The SBS opens public consultation for the General Open Finance Regulation

The Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has opened the public consultation for the draft regulation that approves the General Regulation of the Open Finance System, the rule that will define how users’ financial data is exchanged. The decision was officialized through SBS Resolution No. 02433-2026, published in the Official Gazette El Peruano on Monday, October 5, 2026, and grants the public a period of eighteen (18) calendar days to submit comments and observations.

The first article of the resolution authorizes the dissemination of the draft on the SBS Digital Headquarters (www.sbs.gob.pe), while the second article sets the period of eighteen (18) calendar days starting from the day following the publication of the regulation in the Official Gazette El Peruano. The document bears the signature of Superintendent Sergio Javier Espinosa Chiroque and was issued in Lima on October 2, 2026.

The SBS bases the initiative on the Thirty-Second Final and Complementary Provision of Law No. 26702, General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, which regulates the publication of draft regulations, and on Article IV of the Preliminary Title of Law No. 27444, Law of General Administrative Procedure, which enshrines the principle of participation of the administered parties in public decisions. It also invokes the regulation on the publication and dissemination of legal norms of a general nature approved by Supreme Decree No. 009-2024-JUS.

What the new regulation will regulate

According to the recitals, the Superintendency considers it necessary to issue general provisions that regulate the implementation and operation of the Open Finance System. The project includes:

• The governance mechanisms of the system.
• The scope of the data and services included.
• The conditions for entity participation.
• The provisions applicable to the access, exchange, and treatment of information.
• User control over their own data.

The SBS justifies the measure based on the development of open finance models and the benefits associated with their implementation in terms of innovation, competition, and financial inclusion.

How and where to participate

Comments and observations must be sent to the SBS through its Digital Headquarters (www.sbs.gob.pe), where the full draft regulation is published. The deadline runs from the day following the publication of SBS Resolution No. 02433-2026 in the Official Gazette El Peruano.

The resolution has the approval of the Adjunct Superintendency of Regulation and Legal Affairs and the Department of Open Finance, areas that provide technical support for the proposal.

Immediate background

The consultation is added to other actions by the SBS on the matter. On September 29, 2026, SBS Resolution No. 02378-2026 authorized the public consultation release of a draft modification to the Regulation for Effective Capital Requirements for Credit Risk.

On that same day, SBS Resolution No. 02388-2026 authorized the travel of Milton Gener Palacin Grijalva, principal analyst in Open Finance II of the Open Finance Department, to participate in the launch of the Technological Sandbox for Open Finance in Chile, organized by the Inter-American Development Bank (IDB) and the Financial Market Commission (CMF) of Chile.

The regulation under consultation will define the rules for the exchange of financial data in Peru and applies to banks, financial companies, fintechs, and the system’s own customers, who will gain formal control over the use of their information. The opening of the period turns the SBS into the arbiter of a data market that until now operated without a general framework; therefore, the observations submitted in the coming weeks will determine the actual scope of the regulation.

Source: Official Gazette El Peruano, Monday, October 5, 2026, Legal Norms section, p. 22 (official reference: SBS Resolution No. 02433-2026).