The National Council of Supervision of the Financial System (CONASSIF) announced during an ordinary session that it will extend till October 13 the period of investigations of the company, so as to obtain accurate information on dubious operations, the newspaper Delfino.cr. added.

The auditing process requires additional time to thoroughly evaluate a regularization plan proposed by the shareholders, the state regulatory entity argued, the daily quoted.

The entity further explained that the now-extended program shall guarantee the correction of the deficiencies identified in Desyfin Corp. and seek guarantees of its financial viability.

The press release pointed out that Law 9816 grants CONASSIF the power to extend this type of investigation for up to 30 days, in case the situation warrants it due to its complexity.

The process will finish with a report to CONASSIF by the head auditor, Marianne Kött, with recommendations on the alleged reliability of the finance company and, if proven otherwise, the institution will determine the appropriate mechanism to solve the problem or liquidate the company.

The General Superintendence of Financial Entities (SUGEF) accused in mid-August the former general manager of Desyfin Corp. Silvio Lacayo of prohibiting the delivery of information required for its supervision, according to El Observador newspaper.

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