The Superintendence of Popular Economy and Solidarity (SEPS) has mandated the liquidation of the cooperative known as Inteligencia de Negocios (Incoop), based in Ambato, Ecuador. This decision, communicated through a resolution on February 23, indicates that the cooperative has fallen into conditions warranting forced liquidation as per the Organic Monetary and Financial Code. The SEPS will initiate legal actions to safeguard the interests of its members and ensure institutional stability following this announcement.

The resolution stipulates that the liquidation process can take up to three years, beginning from the date the resolution was signed. In addition to the liquidation order, the SEPS has revoked all of Incoop's financial operating permits and licenses, halting its ability to conduct any financial activities. This comprehensive measure reflects the SEPS's commitment to regulating the cooperative sector and ensuring compliance with financial laws.

As the SEPS takes steps to protect the cooperative’s clients and ensure stability within the financial system, this incident highlights broader issues of financial oversight in Ecuador's cooperative sector. The outcome of the liquidation process and legal actions will likely have significant implications not only for the members of Incoop but also for the regulatory framework governing similar institutions throughout the country.