Planfía leaves the sofipos sector; CNBV publishes revocation in the DOF

The National Baking and Stock Commission (CNBV) published in the Official Journal of the Federation (DOF) the revocation of the popular financial company Financial Plana firm that since 2017 had special surveillance by this authority due to irregularities of its main shareholder in the stock market.

This Wednesday, September 14, the CNBV published, via the Ministry of Finance, an extract of the official letter by which revokes the authorization granted to Financiera Planfíawhich requested its dissolution, liquidation and subsequent bankruptcy.

“This decentralized body… revokes to Financiera Planfía, SA DE CV, SFP, the authorization for the organization and operation as a popular financial company”, can be read in the document published in the DOF about this entity that was authorized to operate as as of December 2007.

With this, the CNBV shelves an issue that began on November 29, 2017 when the authority notified this entity, focused on giving credit for automobiles, the order of an investigation visit where it found irregularities to register, recognize and reveal variations that meant movements in their accounting.

Said visit was due to different irregularities detected by the supervisor regarding placements in the stock market made by its main shareholder, Planfía, where it used the creation of sofipo credits for the payment, with interest, of the same.

In this context, the CNBV applied different fines to both the sofipo and its main leaders. According to the sanction portal of the regulatory body, the firm revoked today accumulated 40 sanctions from 2014 to 2019 for an amount of 3.5 million pesos for violating different precepts of the Popular Savings and Credit Law such as those related to the prevention of money laundering or providing erroneous information to the authority.

At the end of 2017, the CNBV presented different criminal opinions to the Attorney General’s Office against directors of Planfía for presenting false information to this authority.

self dissolution

In a letter dated May 26, 2021, signed by its president Gerardo González Negrete, and addressed to the CNBV, the firm notified of its dissolution and voluntary liquidation.

“Planfía’s shareholders agreed to carry out the dissolution and voluntary liquidation of Planfíaappoint Federico Gabriel Lucio Decanini as liquidator, as well as present the corresponding notice to the Commission, so that said authority is in a position to carry out the necessary acts to revoke the authorization granted,” the document reads.

According to the letter, for more than three years the institution did not generate new credits or raise resources from the public, so that all liabilities are represented by deposits from related parties that are not likely to be covered by the Sofipos Protection Fund.

With the departure of Planfía, the sofipos sector is made up of 39 companies in operation and two more that have not yet started operations.