Rebaza, Alcázar & De Las Casas advised Banco Bci Perú in obtaining all the regulatory authorizations necessary to start operations as a banking company in the Peruvian market.
Banco Bci Perú is the new subsidiary of Banco de Crédito e Inversiones - BCI, an international corporation founded in Chile in 1937, which operates in Latin America, the United States and Asia, and is currently one of the most recognized private banks in the Chilean financial system.
On April 29, 2022, Banco Bci Perú obtained the Operating Authorization from the Superintendence of Banking, Insurance and Private Pension Fund Managers (SBS) -published in the Official Gazette El Peruano on May 7, 2022- reaching the final milestone for the launching of BCI's services in Peru, which will start its operations with a capital amounting to approximately US$ 62,000,000.
The legal advice considered the adaptation to new regulatory criteria issued by the SBS regarding the authorization of supervised companies, such as those related to the suitability of shareholders, beneficial owners, directors, managers and main officers; information security and cybersecurity; as well as, a deep analysis regarding the AML prevention system, registration of securities in centralized negotiation mechanisms, personal data protection, external and internal audit, corporate governance, market conduct, among others.
Likewise, the procedure before the SBS involved a significant regulatory component, as it implied the preparation and implementation of manuals, internal policies and procedures, contractual models for financial products and services and guarantees to be used by a banking company, targeting the corporate sector.