Securities Market Law amendments give financial institutions more options

Law No. 27,649, enacted on January 23, amends a number of articles of Peru’s Securities Market Law (SML). The amendments will take effect 60 calendar days from that date. The changes are designed to: (i) improve the institutional framework governing the operation of the national securities market and provide market access to a wider range of companies; (ii) make available to the banking system a more efficient complementary financing source; and (iii) promote competition to reduce interest rates, as well as responding to the demands for change of institutional investors.