Banking Supervision

Sanctions imposed by the Banco de España

Under the provisions of Art. 115.7 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, the Banco de España shall publish on its website the sanctions and reprimands imposed in relation to serious and very serious infringements within 15 working days from the date on which such sanctions and reprimands have become final pursuant to administrative proceedings. Where appropriate, and if it is so resolved, the identity of the person subject to the sanction or reprimand may remain confidential.

In compliance with this obligation, the following table includes a reference to the aforementioned sanctions and reprimands imposed by the Banco de España since the entry into force of Law 10/2014, referring to the appeals for judicial review, if any, lodged against the sanctioning resolution, and the outcome thereof.

Publication date Information on infringements and sanctions imposed Decision date Status
15/07/21

Fine imposed on CEIM Confederación Empresarial de Madrid CEOE, director of Avalmadrid, a mutual guarantee company, amounting to twenty eight thousand and five hundred euro (€28,500), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
15/07/21

Fine imposed on Mr. Jesús Martín Sanz, director of Avalmadrid, a mutual guarantee company, amounting to forty thousand euro (€40,000), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
15/07/21

Fine imposed on Mr. Alfonso Carcasona García, director of Avalmadrid, a mutual guarantee company, amounting to forty five thousand and six hundred euro (€45,600), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
15/07/21

Fine imposed on Mr. Fernando Rodriguez Sousa, director of Avalmadrid, a mutual guarantee company, amounting to forty seven thousand and five hundred euro (€47,500), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
15/07/21

Fine imposed on Mr. Jesús Alejandro Vidart-Anchía, director of Avalmadrid, a mutual guarantee company, amounting to thirty one thousand and three hundred and fifty euro (€31,350), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
24/05/21

Fine imposed on Servicios Prescriptor y Medios de Pago, E.F.C., S.A.U. (the Entity), amounting to five hundred and forty thousand euro (€540,000) — after application of the 40% reduction established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of said Law 10/2014 consisting in the performance of actions or operations in breach of the rules issued under Article 5 of this Law, and, specifically, in breach of Order 2899/2011 and of Banco de España Circular 5/2012.

This infringement involved the Entity’s commercial practice of linking to the loan for the purchase of goods and services the simultaneous grant of a credit line, whose use was encouraged by the Entity, although it bore little relation to the financing originally sought by the customer, in terms of manner of repayment and cost. Furthermore, in the European Standardised Information Sheet, the credit line information was mixed with the loan information

28/04/21 Final decision
24/05/21

Fine imposed on Servicios Prescriptor y Medios de Pago, E.F.C., S.A.U., amounting to two hundred and seventy thousand euro (€270,000) — after application of the 40% reduction established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 34(2) of Law 16/2011 of 24 June 2011 on consumer credit agreements, consisting in the breach of regulatory and disciplinary provisions of Law 16/2011 during the period between 1 July 2016 and 30 June 2018.

Specifically, these breaches related to the failure to deliver the pre-contractual documentation sufficiently in advance, and to shortcomings in the calculation of the annual percentage rate (APR) in the contractual documentation, given that certain fees and commissions were not included.

28/04/21 Final decision
24/03/21

Fine of two thousand four hundred euro (€2,400) imposed on a shareholder of an electronic money institution, after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, as defined in Article 23(2) of Law 21/2011 of 26 July 2011 on electronic money, and in Article 27(4) of Royal Decree 778/2012 of 4 May 2012 on the legal regime for electronic money institutions.

Specifically, this infringement consisted in the acquisition of a significant shareholding in an electronic money institution, without fulfilling the obligations under Article 21 of the aforementioned Law 21/2011 to give prior notice and submit relevant information to the Banco de España.

28/01/21 Final administrative decision. Currently under appeal before the courts
05/03/21

Fine imposed on CRACK 10 ASTURIAS, S.L. amounting to seventy thousand euro (€70,000), pursuant to the first paragraph of Article 97(1)(a)(2º) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, as defined in paragraph 2 of the fourth additional provision of said Law 10/2014.

Specifically, this infringement consisted in the failure to provide the information requested by the Banco de España as part of an inspection which, in accordance with the aforementioned additional provision, was performed by the latter, following ministerial approval, in order to verify whether said company was carrying out, without authorisation, activities reserved to credit institutions.

18/12/20 Final decision
05/03/21

Secondary measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 97(2)(c) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, relating to the fine imposed on CRACK 10 ASTURIAS, S.L. amounting to seventy thousand euro (€70,000), for the commission of a very serious infringement, of the type described in paragraph 2 of the fourth additional provision of said Law 10/2014.

Specifically, this infringement consisted in the failure to provide the information requested by the Banco de España as part of an inspection which, in accordance with the aforementioned additional provision, was performed by the latter, following ministerial approval, in order to verify whether said company was carrying out, without authorisation, activities reserved to credit institutions.

18/12/20 Final decision
19/02/21

Fine imposed on IBERCAJA BANCO, S.A., amounting to one million eighty thousand euros (€1,080,000) — after the application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government, pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of this latter Law, comprising the performance, between 1 January 2015 and 31 December 2017, of acts or operations in breach of rules issued under Article 5 of said Law 10/2014.

Specifically, in breach of Order 2899/2011 and of Banco de España Circular 5/2012 in relation to the provision of pre-contractual information and their content, as well as in relation to calculation of the APRC included in said pre-contractual information.

18/12/20 Final decision
29/01/21

Fine imposed on Austrogiros Entidad de Pago, S.A., amounting to two hundred thousand euro (€200,000), pursuant to Article 97(1)(a)(2º) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement,  of the type defined in Article 92(d) of said Law 10/2014, comprising the failure to comply with minimum capital requirements.

Specifically, own funds stood below eighty per cent of the minimum level laid down by regulations according to the risks assumed, remaining in that situation for a period of at least six months (from at least 31 December 2014, and in particular, during the whole of the relevant period for the purposes of this proceeding, i.e. 1 January 2017 to 30 September 2018).

20/11/20 Final decision
29/01/21

Fine imposed on Austrogiros Entidad de Pago, S.A., amounting to three hundred and fifty thousand euro (€350,000), pursuant to Article 97(1)(a)(2º) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(g) of said Law 10/2014.

This infringement consisted of critical accounting irregularities which prevented the true balance sheet and financial position of the institution from being known.

20/11/20 Final decision
29/01/21

Fine imposed on Austrogiros Entidad de Pago, S.A., amounting to two hundred and fifty thousand euro (€250,000), pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, comprising the failure to comply with regulatory and disciplinary rules applicable to payment institutions.

Specifically, there was a failure to comply with rules requiring payment institutions to have an  effective administration and management in Spanish territory.

20/11/20 Final decision
29/01/21

Fine imposed on Austrogiros Entidad de Pago, S.A., amounting to one hundred and fifty thousand euro (€150,000), pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(l) of said Law 10/2014.

This infringement consisted in the failure to send, the late sending of or the sending of inaccurate financial and accounting information or information on agents, plans for returning to compliance or the shareholding structure.

20/11/20 Final decision
26/01/21

Fine imposed on Mr. Esteban Cordero, de facto director of Austrogiros Entidad de Pago S.A., amounting to twenty-five thousand euro (€25,000), pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(d) of said Law 10/2014, comprising the failure of the institution to comply with minimum capital requirements.

Specifically, own funds stood below eighty per cent of the minimum level laid down by regulations according to the risks assumed, remaining in that situation for a period of at least six months (from at least 31 December 2014, and in particular, during the whole of the relevant period for the purposes of this proceeding, i.e. 1 January 2017 to 30 September 2018).

20/11/20 Final decision
26/01/21

Penalty imposed on Mr. Esteban Cordero, de facto director of Austrogiros Entidad de Pago S.A.,  of disqualification from serving as a director or  manager at any financial sector entity for a  period of 1 year, pursuant to Article 101(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement,  of the type defined in Article 92(d) of said Law 10/2014,  comprising the failure of the institution to comply with minimum capital requirements.

Specifically, own funds stood below eighty per cent of the minimum level laid down by regulations according to the risks assumed, remaining in that situation for a period of at least six months (from at least 31 December 2014, and in particular, during the whole of the relevant period for the purposes of this proceeding, i.e. 1 January 2017 to 30 September 2018).

20/11/20 Final decision
26/01/21

Fine imposed on Mr. Esteban Cordero, de facto director of Austrogiros Entidad de Pago S.A., amounting to fifty thousand euro (€50,000), pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(g) of said Law 10/2014.

This infringement consisted of critical accounting irregularities which prevented the true balance sheet and financial position of the institution from being known.

20/11/20 Final decision
26/01/21

Penalty imposed on Mr. Esteban Cordero, de facto director of Austrogiros Entidad de Pago S.A., of disqualification from serving as a director or manager at any financial sector entity for a period of 2 years, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(g) of said Law 10/2014.

This infringement consisted of critical accounting irregularities which prevented the true balance sheet and financial position of the institution from being known.

20/11/20 Final decision
26/01/21

Fine imposed on Mr. Esteban Cordero, de facto director of Austrogiros Entidad de Pago S.A. amounting to forty thousand euro (€40,000), pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement,  of the type  defined in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, comprising the failure to comply with regulatory and disciplinary rules applicable to payment institutions.

Specifically, there was a failure to comply with rules requiring payment institutions to have an  effective administration and management in Spanish territory.

20/11/20 Final decision
26/01/21

Penalty imposed on Mr. Esteban Cordero, de facto director of Austrogiros Entidad de Pago S.A., of disqualification from serving as a director or  manager at any financial sector entity for a  period of 1 year, pursuant to Article 101(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement,  of the type defined in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services,  comprising the failure to comply with regulatory and disciplinary rules applicable to payment institutions.

Specifically, there was a failure to comply with rules requiring payment institutions to have an effective administration and management in Spanish territory.

20/11/20 Final decision
25/01/21

Fine imposed on CAJAMAR CAJA RURAL, Sociedad Cooperativa de Crédito,  amounting to nine hundred thousand euro (€900,000) — after the application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government —, pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of said Law 10/2014, comprising the performance, between 1 January 2015 and 31 December 2017, of acts or operations in breach of rules issued under Article 5 of Law 10/2014.

Specifically, in breach of Order 2899/2011 and of Banco de España Circular 5/2012 in relation to the provision of pre-contractual information (above all, in cases of renewal), as well as their content (omission of arrangement expenses and other compulsory costs) and contractual documentation (omission of the APRC), as well as in relation to calculation of the APRC.

20/11/20 Final decision
20/11/20

Penalty imposed on Ms. Susana Ruiz Robles,  sole director of Austrogiros Entidad de Pago S.A., of disqualification from serving as a director or manager at any financial sector entity for a period of 1 year, pursuant to Article 101(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, comprising the failure to comply with regulatory and disciplinary rules applicable to payment institutions.

Specifically, there was a failure to comply with rules requiring payment institutions to have an  effective administration and management in Spanish territory.

20/11/20 Final decision
20/11/20

Fine imposed on Ms. Susana Ruiz Robles, sole director of Austrogiros Entidad de Pago S.A., amounting to five thousand euro (€5,000), pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(l) of said Law 10/2014.

This infringement consisted in the failure to send, the late sending of or the sending of inaccurate financial and accounting information or information on agents, plans for returning to compliance or the shareholding structure.

20/11/20 Final decision
20/11/20

Fine imposed on Ms. Susana Ruiz Robles, sole director of Austrogiros Entidad de Pago S.A., amounting to five thousand euro (€5,000), pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(l) of said Law 10/2014.

This infringement consisted in the failure to send, the late sending of or the sending of inaccurate financial and accounting information or information on agents, plans for returning to compliance or the shareholding structure.

20/11/20 Final decision
22/10/19

Fine imposed on  Gestión y Representación Global, S.L.U. (formerly Gesmare Sociedad Gestora, S.L., which acquired Mediación y Diagnósticos, S.A.), director of Avalmadrid, a mutual guarantee company, amounting to  forty-five thousand six hundred euro (€45,600), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
14/12/20

Fine imposed on Participaciones y Cartera de Inversión, S.L., director of Avalmadrid, a mutual guarantee company, amounting to thirty-three thousand two hundred fifty euro (€33,250), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
22/10/19

Fine imposed on Valoración y Control, S.L., director of Avalmadrid, a mutual guarantee company, amounting to forty-two thousand seven hundred fifty euro (€42,750), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
27/11/20

Fine imposed on Mr. José María Rotellar García, director of Avalmadrid, a mutual guarantee company, amounting to eighteen thousand euro (€18,000), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
27/11/20

Fine imposed on the Consejería de Economía, Empleo y Competitividad de la Comunidad de Madrid, director of Avalmadrid, a mutual guarantee company, amounting to forty-seven thousand five hundred euro (€47,500), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final decision
24/11/20

Fine imposed on Mr. Juan Iranzo Martín, director of Avalmadrid, a mutual guarantee company, amounting to four thousand euro (€4,000), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
24/11/20

Fine imposed on Mr. Jorge Morán Santor, general director of Avalmadrid, a mutual guarantee company, amounting to fifteen thousand euro (€15,000), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/11/20

Fine imposed on Mr. Pedro Irigoyen Barja, director of Avalmadrid, a mutual guarantee company, amounting to ten thousand euro (€10,000), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/11/20

Fine imposed on Banco Santander, S.A.,  in its capacity as universal successor of Banco Popular Español, S.A., director of Avalmadrid, a mutual guarantee company, amounting to thirty-three thousand two hundred fifty euro (€33,250), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/11/20

Fine imposed on Mr. Juan Luis Fernández-Rubíes Lillo,  general director of Avalmadrid, a mutual guarantee company, amounting to forty-five thousand euro (€45,000), pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
26/06/20

Fine imposed on Bankinter, S.A., amounting to five million two hundred thousand euro (€5,200,000) – after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure – pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of said Law 10/2014, comprising the performance between 1 January 2015 and 31 December 2017, of actions or operations in breach of the rules issued under Article 5 of said law.

Specifically, Ministerial Order 2899/2011 and Banco de España Circular 5/2012 were breached in respect of the provision of pre-contractual information, the calculation of the APR included in said information and the omission of the aforementioned rate from the contractual documentation, and the expenses charged to customers for agency services.

26/06/20 Final administrative decision Currently under appeal before the courts
11/06/20

Fine imposed on Astur de hipotecas, S.L. amounting to one hundred and twenty thousand euro (€120,000) — after the application of the reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government-, pursuant to Article 97(1)(a)(2°) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, as defined in Article 92(a) of said Law 10/2014.

This infringement consisted of engaging without authorisation in activities legally reserved for credit institutions.

11/06/20 Final decision
11/06/20

Ancillary measure consisting in a public reprimand of Astur de Hipotecas, S.L. with publication in the Official State Gazette, provided for in Article 97(2)(c) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement defined in Article 92(a) of said Law 10/2014 that consisted of engaging without authorisation in activities legally reserved for credit institutions.

11/06/20 Final decision
11/06/20

Fine imposed on D.ª María Ángeles González González, in her capacity as sole director of Astur de hipotecas, S.L., amounting to nine thousand euro (€9,000) — after the application of the reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government —, pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, as defined in Article 92(a) of said Law 10/2014.

This infringement consisted of engaging without authorisation in activities legally reserved for credit institutions.

11/06/20 Final decision
16/07/20

Fine imposed on BMCE Bank International, S.A. amounting to six hundred thousand euro (€600,000) — after application of a reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 97(1)(a)(2) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on BMCE Bank International, S.A. amounting to three hundred thousand euro (€300,000) — after application of a reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Radi Mahmud Hamudeh, who held various posts at BMCE Bank International, S.A. (Director-General Manager and Chief Executive Officer), amounting to three hundred thousand euro (€300,000), pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
16/07/20

Penalty of disqualification imposed on Mr Radi Mahmud Hamudeh, who held various posts at BMCE Bank International, S.A. (Director-General Manager and Chief Executive Officer), from serving as a director or manager at any credit institution or in the financial sector for a period of 4 years, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Radi Mahmud Hamudeh, who held various posts at BMCE Bank International, S.A. (Director-General Manager and Chief Executive Officer), amounting to one hundred and fifty thousand euro (€150,000), pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Penalty of disqualification imposed on Mr Radi Mahmud Hamudeh, who held various posts at BMCE Bank International, S.A. (Director-General Manager and Chief Executive Officer), from serving as a director or manager at any credit institution or in the financial sector for a period of 2 years, pursuant to Article 101(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Mohammed Agoumi, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to forty-eight thousand euro (€48,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Mohammed Agoumi, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to twenty-four thousand euro (€24,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Azzeddine Guessous, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to twenty-two thousand euro (€22,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Azzeddine Guessous, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to forty-four thousand euro (€44,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Mohammed-Brahim Benjelloun-Touimi, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to thirty-eight thousand four hundred euro (€38,400) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Mohammed-Brahim Benjelloun-Touimi, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to nineteen thousand two hundred euro (€19,200) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Jerónimo Páez López, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to forty-three thousand euro (€43,000) pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Jerónimo Páez López, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to twenty-one thousand five hundred euro (€21,500) pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Othman Benjelloun, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to twenty-nine thousand six hundred euro (€29,600) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Othman Benjelloun, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to fourteen thousand eight hundred euro (€14,800) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Mohamed Bennani, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to eight thousand euro (€8,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Mohamed Bennani, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to four thousand euro (€4,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Mamoun Belghiti, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to four thousand euro (€4,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
30/09/19

Fine imposed on Mr Mamoun Belghiti, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to two thousand euro (€2,000) — after application of a reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
30/05/19

Fine imposed on Mr Rubén Fernando Saavedra, in his capacity as chairman of Intercredit, Inc., amounting to nine thousand euro (€9,000) — after application of a reduction of 40% established in  Article 85 of Law 39/2015 of 1 October 2015 on  the general government common administrative procedure —, pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 4(4)  of Law 16/2009 of 13 November 2009 on payment services (in force at the time of the infringement), relating to Article 92(aa) of said Law 10/2014.

This infringement consists of the repeated provision on a professional basis of payment services without having the status of a payment services provider.

30/05/19 Final decision
30/05/19

Fine imposed on Intercredit, Inc., amounting to seventy-two thousand euro (€72,000) — after application of a reduction of 40% established in  Article 85 of Law 39/2015 of 1 October 2015 on  the general government common administrative procedure —, pursuant to Article 97(1)(a)(1) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type defined in Article 4(4)  of Law 16/2009 of 13 November 2009 on payment services (in force at the time of the infringement), relating to Article 92(aa) of said Law 10/2014.

This infringement consists of the repeated provision on a professional basis of payment services without having the status of a payment services provider.

30/05/19 Final decision
20/12/19

Fine imposed on Banca March, S.A., amounting to five hundred and twenty five thousand euro (€525,000) — after application of a reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure —, pursuant to Article 98(1) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of saidLaw 10/2014, consisting in the performance of actions or operations in breach of the rules issued under Article 5 of that Law.

Breaches of the applicable regulations (Order 2899/2011 and Banco de España Circular 5/2012) were detected, consisting of a failure to deliver the necessary pre-contractual information to customers in all cases, specifically, the information on the arrangement costs assumed. Also, shortcomings were established in the calculation of the APR contained in the pre-contractual information (personalised information sheet) and in the contractual documentation, owing to a failure to include all the relevant expenses and costs in such calculation. The information given to customers on the cost of related products was also deemed insufficient.

20/12/19 Final decision
26/11/19

Fine imposed on ING BANK, N.V. Sucursal en España, amounting to three million euro (€3,000,000) — after application of a reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure —, pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of said Law 10/2014, consisting in the performance of actions or operations in breach of the rules issued under Article 5 of that Law.

Breaches have been observed of Order 2899/2011 and of Banco de España Circular 5/2012, owing to shortcomings in the APR reported to customers. The APR was not correctly calculated in either the pre-contractual information (personalised information sheet) or the contractual documentation, as certain arrangement costs payable by the customer were not included in the calculation. Also the information provided to customers in the personalised information sheet on the expenses and costs assumed by them was deficient.

26/11/19 Final decision
26/11/19

Fine imposed on ING BANK, N.V. Sucursal en España, amounting to two million four hundred thousand euro (€2,400,000)— after application of a reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure —, pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of the said Law 10/2014, consisting in shortcomings observed in internal control mechanisms.

The Entity was found not to be sufficiently controlling the agents that provide customers with binding offers, in breach of Article 29 of the aforementioned Law 10/2014.

26/11/19 Final decision
23/12/19

Fine imposed on Avalmadrid, a mutual guarantee company, amounting to ninety five thousand euro (€95,000), pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final decision
23/12/19

Fine imposed on the Chamber of Commerce, Industry and Services of Madrid, director of Avalmadrid, a mutual guarantee company, amounting to thirty eight thousand four hundred euro (€38,400) —after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure—, pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/12/19

Fine imposed on Mr. Juan Pablo Lázaro Montero de Espinosa, director of Avalmadrid, a mutual guarantee company, amounting to ten thousand four hundred euro (€10,400)—after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure—, pursuant to Article 13(1)(c) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
26/10/18

Fine imposed on Banco Santander, S.A., in its capacity as universal successor of Banco Popular Español, S.A., amounting to one million five hundred thousand euro (€1,500,000), pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(e) of said Law 26/1988, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of Law 2/2011 of 4 March 2011 on the sustainable economy.

This infringement was committed since breaches were detected of Ministerial Order 2899/2011 and of Banco de España Circular 5/2012 relating to: the provision to customers of pre-contractual and contractual information and the compulsory content of such information; calculation of APR; and the charging of commission for services not provided.

26/10/18 Final administrative decision. Currently under appeal before the courts
26/10/18

Fine imposed on Banco Santander, S.A., in its capacity as universal successor of Banco Popular Español, S.A., amounting to three million euro (€3,000,000), pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement of the type defined in Article 4(e) of said Law 26/1988, consisting in the performance of actions or operations prohibited by regulatory and disciplinary provisions with the status of law or in non-compliance with the requirements laid down in those provisions , unless on a merely occasional or isolated basis.

This infringement was committed since breaches were detected of Laws 41/2007 and 44/2002 relating, respectively, to: the compensation and charges in the event of early repayment and the application of interest rate rounding clauses.

26/10/18 Final administrative decision. Currently under appeal before the courts
29/03/19

Fine imposed on Banco Santander, S.A. amounting to three million two hundred thousand euro (€3,200,000) — after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(d) of said Law 26/1988, consisting in the performance on a merely occasional or isolated basis of actions or operations prohibited by regulatory and disciplinary provisions with the status of law, or in non-compliance with the requirements laid down in those provisions.

This infringement was committed since breaches were detected of Laws 41/2007, 2/1994 and 44/2002 relating, respectively, to: early repayment charges and compensation for bearing interest rate risk; novation charges in maturity extensions; and rounding of interest rates.

29/03/19 Final decision
29/03/19

Fine imposed on Banco Santander, S.A. amounting to three million two hundred thousand euro (€3,200,000) — after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(e) of said Law 26/1988, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of Law 2/2011 of 4 March 2011 on the sustainable economy.

This infringement was committed since breaches were detected of Ministerial Order 2899/2011 and of Banco de España Circular 5/2012, relating to: the provision of pre-contractual information; the content of settlement documents in early repayments in which interest rate risk compensation is charged; the debiting of fees in the novation of transactions; the calculation of the annual percentage rate (APR) included in the pre-contractual information and contractual documentation; and the content of the pre-contractual information on other costs included in the APR and in the total amount repayable.

29/03/19 Final decision
29/03/19

Fine imposed on Unicaja Banco, S.A. amounting to one million fifty thousand euro (€1,050,000) — after application of the reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement of the type defined in Article 4(e) of said Law 26/1988, consisting in the performance of actions or operations prohibited by regulatory and disciplinary provisions with the status of law or in non-compliance with the requirements laid down in those provisions.

This infringement was committed since breaches were detected of Article 7 of Law 41/2007 which prohibits charging fees for issuing bank documentation to provide evidence of loan repayment.

29/03/19 Final decision
29/03/19

Fine imposed on Unicaja Banco, S.A. amounting to four hundred and fifty thousand euro (€450,000) — after application of the reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(e) of said Law 26/1988, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of Law 2/2011 of 4 March 2011 on the sustainable economy.

This infringement was committed since breaches were detected of Ministerial Order 2899/2011 and of Banco de España Circular 5/2012, relating to the provision of pre-contractual information and the content of such information and of contractual documentation, as well as to how the annual percentage rate (APR) is calculated in the pre-contractual and contractual documentation, given that all the arrangement costs charged to the borrower and the cost of the property insurance required for arranging the transaction are not included.

29/03/19 Final decision
27/02/19

Fine of twenty-four thousand euro (€24,000) imposed on Mr. Luis Alberto Gasparini, sole director of Euro Trading & Financial, S.A., (after application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type defined in Article 7(3)(I)(b) of Royal Decree 2660/1998 of 14 December 1998 on the changing of foreign currency in establishments open to the public other than credit institutions, in conjunction with Article 92(g) of said Law 10/2014 and with Article 178(Three) of Law 13/1996 of 30 December 1996 on fiscal, administrative and social measures.

This infringement consisted of essential irregularities in the accounts of the Entity that prevent its financial position from being known.

27/02/19 Final decision
27/02/19

Fine of four thousand eight hundred euro (€4,800) imposed on Mr. Luis Alberto Gasparini, sole director of Euro Trading & Financial, S.A., (after application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 7(3)(II)(a) of Royal Decree 2660/1998 of 14 December 1998 on the changing of foreign currency in establishments open to the public other than credit institutions, in conjunction with Article 93(d) of said Law 10/2014 and with Article 178(Three) of Law 13/1996 of 30 December 1996 on fiscal, administrative and social measures.

This infringement consisted of the performance of transactions for the sale of foreign currency without the necessary prior authorisation.

27/02/19 Final decision
27/02/19

Fine of nine thousand euro (€9,000) imposed on Mr. Luis Alberto Gasparini, sole director of Euro Trading & Financial, S.A., (after application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on the changing of foreign currency in establishments open to the public other than credit institutions, in conjunction with Article 93(e) of said Law 10/2014 and with Article 178(Three) of Law 13/1996 of 30 December 1996 on fiscal, administrative and social measures.

This infringement consisted of non-compliance with the obligation to record transactions as stipulated by Banco de España Circular 6/2001 of 29 October 2001 on owners of currency-exchange bureaux.

27/02/19 Final decision
27/02/19

Fine of one hundred and twenty thousand euro (€120,000) imposed on Euro Trading & Financial, S.A. (after application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 97(1)(a)(2) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type defined in Article 7(3)(I)(b) of Royal Decree 2660/1998 of 14 December 1998 on the changing of foreign currency in establishments open to the public other than credit institutions, in conjunction with Article 92(g) of said Law 10/2014 and with Article 178(Three) of Law 13/1996 of 30 December 1996 on fiscal, administrative and social measures.

This infringement consisted of essential irregularities in the accounts of the Entity that prevent its financial position from being known.

27/02/19 Final decision
27/02/19

Fine of twenty-four thousand euro (€24,000) imposed on Euro Trading & Financial, S.A (after application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 98(1)(b)(2) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 7(3)(II)(a) of Royal Decree 2660/1998 of 14 December 1998 on the changing of foreign currency in establishments open to the public other than credit institutions, in conjunction with Article 93(d) of said Law 10/2014 and with Article 178(Three) of Law 13/1996 of 30 December 1996 on fiscal, administrative and social measures.

This infringement consisted of the performance of transactions for the sale of foreign currency without the necessary prior authorisation.

27/02/19 Final decision
27/02/19

Fine of thirty-nine thousand euro (€39,000) imposed on Euro Trading & Financial, S.A. (after application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 98(1)(b)(2) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on the changing of foreign currency in establishments open to the public other than credit institutions, in conjunction with Article 93(e) of said Law 10/2014 and with Article 178(Three) of Law 13/1996 of 30 December 1996 on fiscal, administrative and social measures.

This infringement consisted of non-compliance with the obligation to record transactions as stipulated by Banco de España Circular 6/2001 of 29 October 2001 on owners of currency-exchange bureaux.

27/02/19 Final decision
27/02/19

Fine of one hundred and seventy-four thousand euro (€174,000) imposed on Triodos Bank, N.V., Sucursal en España (after the application of a reduction of 40% provided for in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure) pursuant to Article 98(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 93(f) of said Law 10/2014.

This infringement consisted of non-compliance by the institution with the provisions of Ministerial Order 2899/2011 and Banco de España Circular 5/2012 relating to precontractual information provided to the customer on transaction expenses and costs and to the inclusion of such expenses and costs in the calculation of the annual percentage rate (APR).

27/02/19 Final decision
15/02/19

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on BEP Corporación Financiera, S.L.U. a fine of three hundred and eighty thousand euro (€380,000) for engaging, without authorisation, in 2014 and 2015, in activities legally restricted to payment institutions, which constitutes a very serious infringement (Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in conjunction with Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

27/11/17 Final decision
15/02/19

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on BEP Corporación Financiera, S.L.U. a fine of three hundred and seventy-five thousand euro (€375,000) for using, without authorisation, in 2014 and 2015, names that may only be used by credit institutions or other names that may lead to their being mistaken for them, which constitutes a very serious infringement (Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

27/11/17 Final decision
15/02/19

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on Ms María Nieves Artiles Pérez, sole director of BEP Corporación Financiera, S.L.U., a fine of forty thousand euro (€40,000) for engaging, without authorisation, in 2014 and 2015, in activities legally restricted to payment institutions, which constitutes a very serious infringement (Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in conjunction with Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

27/11/17 Final decision
15/02/19

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on Ms María Nieves Artiles Pérez, sole director of BEP Corporación Financiera, S.L.U., a fine of twenty-five thousand euro (€25,000) for using, without authorisation, in 2014 and 2015, names that may only be used by credit institutions or other names that may lead to their being  mistaken for them, which constitutes a very serious infringement (Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

27/11/17 Final decision
21/12/18

At its meeting on 21 December 2018, the Governing Council of the Banco de España agreed to impose on ABANCA CORPORACIÓN BANCARIA, S.A. a fine of three million euro (€3,000,000), after application of the reductions of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure. The fine is for the commission of a serious infringement, consisting in the performance, from 1 January 2015 to 30 September 2016, of actions or operations in breach of Ministerial Order 2899/2011 and Banco de España Circular 5/2012. (Article 93(f) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

In the proceedings, proof was evidenced of several breaches relating to pre-contractual information provided to the customer in respect of costs and charges of the operation and the inclusion of these costs and charges in the calculation of the annual percentage rate (APR).

21/12/18 Final decision
30/11/18

Fine imposed on CAIXABANK, S.A., amounting to three million six hundred thousand euro (€3,600,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement, as defined in Article 4(e) of this latter Law.

Breaches of rules with the status of a law have been detected in relation to the limits imposed by Law 41/2007 on exit fees for early repayments, to the rules on the replacement of benchmark indices established in the Fifteenth Additional Provision of Law 14/2013 and to the rules on interest rate rounding in the Twelfth Additional Provision of Law 44/2002.

30/11/18 Final decision
30/11/18

 

Fine imposed on CAIXABANK, S.A., amounting to one million two hundred thousand euro (€1,200,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of this latter Law.

Breaches have been detected of specific requirements relating to the delivery of pre-contractual information, to the minimum content of such information and of contractual documentation, to the method of calculating the annual percentage rate (APR) and to the information provided in respect of compensation for bearing interest-rate risk in early repayments. All these obligations are laid down in Ministerial Order 2899/2011 and Banco de España Circular 5/2012.

30/11/18 Final decision
30/11/18

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to one million five hundred thousand euro (€1,500,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of this latter Law.

Breaches have been detected of specific requirements relating to the delivery of pre-contractual information to the customer, to the method of calculating the annual percentage rate (APR), to the information provided in respect of compensation for bearing interest-rate risk in early repayments and to the charging of commission for the removal of a discharged mortgage from the Land Registry, and, finally, to the custody of contractual documentation. All these obligations are laid down in Ministerial Order 2899/2011 and Banco de España Circular 5/2012.

30/11/18 Final decision
30/11/18

 

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to one million two hundred thousand euro (€1,200,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(d) of this latter Law.

Occasional or isolated breaches of rules with the status of a law have been detected. These are specifically breaches relating to the limits imposed by Law 41/2007 on exit fees for early repayments and to the rules on the replacement of benchmark indices established in the Fifteenth Additional Provision of Law 14/2013.

30/11/18 Final decision
30/05/18

Fine imposed on CAIXABANK, S.A. amounting to three hundred and fifty thousand euro (€350,000) pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, which was the law in force at the time the acts concerned were committed, for the commission of a serious infringement of the type described in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship.

This infringement has been committed as a result of the Institution being in breach of certain obligations relating to how the Code of Good Practice should be applied and the information that should be provided to the customer on the Code (respectively, Article 5(4) and Article 5(9) of Royal Decree-Law 6/2012).

30/05/18 Final decision
28/09/18

The payment institution Transferencias América, S.A. has been fined thirty five thousand euro (€35,000), under Article 10(a) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as it failed to have  proper administration and management in Spanish territory.

28/09/18 Final decision
05/12/18

The payment institution Transferencias América, S.A. has been fined one hundred thousand euro (€100,000), under Article 97(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as its own funds were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
05/12/18

The payment institution Transferencias América, S.A. has been fined thirty five thousand euro (€35,000), under Article 10(a) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as it failed to comply with obligations regarding the safeguarding of customer funds delivered for transfer to payees.

28/09/18 Final decision
05/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
05/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
05/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to comply with obligations regarding the safeguarding of customer funds delivered for transfer to payees.

28/09/18 Final decision
05/12/18

Mr José Antonio Zamudio Farrera, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
05/12/18

Mr José Antonio Zamudio Farrera, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
05/12/18

Mr José Antonio Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
05/12/18

Mr José Antonio Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
05/12/18

Mr Andres Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts in question were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
05/12/18

Mr Andres Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
26/10/18

Fine imposed on BANKIA, S.A., in its capacity as universal successor of Banco Mare Nostrum, S.A., amounting to nine hundred thousand euro (€900,000), after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement, as defined in Article 4(e) of said Law, consisting in the performance of actions or operations prohibited by regulatory and disciplinary provisions laid down by statute or in breach of the requirements laid down therein, not merely on an occasional or isolated basis.

26/10/18 Final decision
26/10/18

Fine imposed on BANKIA, S.A., in its capacity as universal successor of Banco Mare Nostrum, S.A., amounting to three hundred thousand euro (€300,000), after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of said Law, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of the Sustainable Economy Law, and, in particular, in breach of Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012.

26/10/18 Final decision
26/10/18

Fine imposed on BANKIA, S.A., amounting to nine hundred thousand euro (€900,000), after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of said Law, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of the Sustainable Economy Law, and, in particular, in breach of Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012.

26/10/18 Final decision
19/11/18

Penalty imposed on Ms Claudia María Hernández Bona of disqualification for a period of 2 years from serving as a director or manager in any payment institution or financial sector entity, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type described in Article 92(o) of said Law 10/2014, consisting in the existence of shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures that jeopardise the solvency or viability of the institution.

29/09/17 Final decision
19/11/18

Fine imposed on Ms Claudia María Hernández Bona amounting to ten thousand euro (€10,000), pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(o) of said Law 10/2014 consisting in the existence of shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures that jeopardise the solvency or viability of the institution.

29/09/17 Final decision
19/11/18

Penalty imposed on Ms Claudia María Hernández Bona of disqualification for a period of 1 year from serving as a director or manager in any payment institution or financial sector entity, and removal from the directorship held, provided for in Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, consisting in failure to comply with regulatory and disciplinary rules applicable to payment institutions, in particular, those relating to the safeguarding of customer funds delivered for transfer to payees.

29/09/17 Final decision
30/07/18

Fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), pursuant to Article 97 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
30/07/18

Secondary measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 97(2)(c) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, of the fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
30/07/18

Fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), pursuant to Article 97 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
30/07/18

Secondary measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 97(2)(c) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, of the fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
30/07/18

Fine imposed on Mr VINCENZO CARPANZANO, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
30/07/18

Penalty imposed on Mr VINCENZO CARPANZANO of disqualification for a period of 5 years from serving as a director or manager in any credit institution or financial sector entity, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
30/07/18

Fine imposed on Mr VINCENZO CARPANZANO, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
30/07/18

Penalty imposed on Mr VINCENZO CARPANZANO of disqualification for a period of 5 years from serving as a director or manager in any payment institution or financial sector entity, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
30/07/18

Fine imposed on Mr MARIO EMMRICH, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
30/07/18

Penalty imposed on Mr MARIO EMMRICH of disqualification for a period of 5 years from serving as a director or manager in any credit institution or financial sector entity, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(a) of said Law 10/2014 consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
30/07/18

Fine imposed on Mr MARIO EMMRICH, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
30/07/18

Penalty imposed on Mr MARIO EMMRICH of disqualification for a period of 5 years from serving as a director or manager in any payment institution or financial sector entity, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
28/09/18

Penalty imposed on Ms Ivette Patricia Hernández Bona of disqualification for a period of 6 months from serving as a director or manager in any payment institution or financial sector entity, and removal from the directorship held, provided for in Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, consisting in failure to comply with regulatory and disciplinary rules applicable to payment institutions, in particular, those relating to the safeguarding of customer funds delivered for transfer to payees.

29/09/17 Final decision
28/09/18

Fine imposed on Ms Ivette Patricia Hernández Bona, amounting to ten thousand euro (€10,000), pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(o) of said Law 10/2014 consisting in the existence of shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures that jeopardise the solvency or viability of the institution.

29/09/17 Final decision
28/09/18

Penalty imposed on Ms Ivette Patricia Hernández Bona of disqualification for a period of 1 year and 6 months from serving as a director or manager in any payment institution or financial sector entity, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement, of the type described in Article 92(o) of said Law 10/2014, consisting in the existence of shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures that jeopardise the solvency or viability of the institution.

29/09/17 Final decision
30/06/17

Fine of four million euro (€4,000,000) imposed on BANKIA, S.A. pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions for the commission, between July 2013 and December 2014, of a serious infringement, as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 5(4) of said Royal Decree-Law 6/2012, relating to the due implementation of the Code of Good Practice annexed to this Royal Decree-Law.

30/06/17 Final decision
30/06/17

Fine of four million euro (€4,000,000) imposed on BANKIA, S.A. pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions for the commission, between July 2013 and December 2014, of a serious infringement, as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 5(9) of said Royal Decree-Law 6/2012, relating to the duty to publicise and inform its customers about the Code of Good Practice annexed to this Royal Decree-Law.

30/06/17 Final decision
30/06/17

Fine of one million euro (€1,000,000) imposed on a credit institution pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions for the commission of a serious infringement, as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 6(5) of said Royal Decree-Law 6/2012, involving the obligation to periodically submit information to the Banco de España, relating to the implementation of the Code of Good Practice annexed to this Royal Decree-Law.

30/06/17 Final decision
24/10/17

Fine imposed on BANCO SANTANDER, S.A., amounting to four hundred and eighty-five thousand euro (€485,000), pursuant to Article 98(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 5(4) of said Royal Decree-Law 6/2012, relating to the due implementation of the Code of Good Practice.

24/10/17 Final administrative decision. Currently under cassation appeal before the Supreme Court
29/06/18

Fine imposed on BANCA PUEYO, S.A., amounting to eight hundred and seventy six thousand euro (€876,000) after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 98(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 93(f) of said Law 10/2014, consisting in the performance, between 1 January 2015 and 30 September 2016, of actions and operations in breach of the rules issued under Article 5 of said Law 10/2014 and, in particular, in breach of Ministerial Order EHA/2899/2011 of 28 October 2011 on transparency and protection of banking service costumers and Banco de España Circular 5/2012 of 27 June 2012, addressed to credit institutions and payment service providers, on banking service transparency and responsible lending.

29/06/18 Final decision
29/11/16

Fine of three hundred and thirty thousand euro (€330,000) imposed on UNIÓN FINANCIERA ASTURIANA E.F.C., S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, for the commission of a serious infringement of the type described in Article 34(2) of Law 16/2011 of 24 June 2011 on consumer credit agreements, the infringement of Articles 10 and 16 of said Law between 2012 and 2015 having been substantiated.

29/11/16 Final decision.
30/05/18

Fine imposed on BANCO PICHINCHA ESPAÑA, S.A., amounting to three hundred and fifty one thousand euro (€351,000) after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 98(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type defined in Article 93(f) of said Law 10/2014, consisting in the performance, between 1 January 2015 and 30 September 2016, of actions and operations in breach of the rules issued under Article 5 of said Law 10/2014 and, in particular, in breach of Ministerial Order EHA/2899/2011 of 28 October 2011 on transparency and protection of banking service costumers and Banco de España Circular 5/2012 of 27 June 2012, addressed to credit institutions and payment service providers, on banking service transparency and responsible lending.

30/05/18 Final decision
16/04/18

Fine of seventy thousand euro (€70,000) imposed on Mr. FABRIZIO SIGNORELLI, sole administrator of Best and Fast Change España, S.A., pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
16/04/18

Penalty of disqualification imposed on Mr. FABRIZIO SIGNORELLI, sole administrator of Best and Fast Change España, S.A., from serving as a director or manager in any payment or financial institution, and removal from the office of sole administrator, for a term of two years, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998, on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
16/04/18

Fine of forty thousand euro (€40,000) imposed on Ms. ALEJANDRA FERRAGUT ASTOL, general director of Best and Fast Change España, S.A., provided for in Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
16/04/18

Penalty of disqualification imposed on Ms. ALEJANDRA FERRAGUT ASTOL, general director of Best and Fast Change España, S.A., from serving as a director or manager in any payment or financial institution, and removal from the directorship held, for a term of one year, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998, on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
24/10/17

Fine of €184,000 imposed on Banco Cetelem, S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, the substantive sanctioning legislation applicable in view of the time when the acts were committed (after application of the reduction for voluntary payment established in Article 85(2) and (3) of Law 39/2015 of 1 October 2015 on the general government common administrative procedure), for the commission of a serious infringement of the type described in Article 34(2) of Law 16/2011 of 24 June 2011 on consumer credit agreements.

24/10/17 Final decision
24/10/17

Fine of €80,000 imposed on Banco Cetelem, S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, the substantive sanctioning legislation applicable in view of the time when the acts were committed (after application of the reduction for voluntary payment established in Article 85(2) and (3), of Law 39/2015 of 1 October 2015 on the general government common administrative procedure), for the commission of a serious infringement of the type described in Article 51(3) of Law 16/2009 of 13 November, on payment services.

24/10/17 Final decision
24/10/17

Fine of €320,000 imposed on Banco Cetelem, S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, the substantive sanctioning legislation applicable in view of the time when the acts were committed (after application of the reduction for voluntary payment established in Article 85(2) and (3) of Law 39/2015 of 1 October 2015 on the general government common administrative procedure), for the commission of a serious infringement of the type described in Article 5(e) of Law 26/1988.

24/10/17 Final decision
20/03/18

Accessory measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 98(2)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, of the fine imposed on BEST AND FAST CHANGE ESPAÑA, S.A. of one and a half million euro (€1,500,000), envisaged in Article 98(1)(a) of Law 10/2014 for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting in “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
20/03/18

Fine of one and a half million euro (€1,500,000) imposed on BEST AND FAST CHANGE ESPAÑA, S.A., pursuant to Article 98(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting in “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
05/02/18

Fine of twenty-five thousand euro (€25,000) imposed on a director or executive in a credit institution, pursuant to Article 12(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, this being the substantive sanctioning legislation applicable in view of the time when the acts were committed, for the commission of a very serious infringement of the type described in Article 4(j) of said Law 26/1988.

27/11/17 Final decision
05/02/18

Fine of fifteen thousand euro (€15,000) imposed on a director or executive in a credit institution, pursuant to Article 12(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, this being the substantive sanctioning legislation applicable in view of the time when the acts were committed, for the commission of a very serious infringement of the type described in Article 4(j) of said Law 26/1988.

27/11/17 Final decision
29/12/17

Fine of four hundred and fifty thousand euro (€450.000) imposed on ING BANK, N.V., Branch in Spain, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, after the application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, for the commission of a very serious infringement of the type described in Article 4(j) of said Law 26/1988.

27/11/17 Final decision
18/12/17

Fine of three million euro (€3,000,000) imposed on Pay-One 911 EP, S.A. pursuant to Article 98(1)(b) of Law 10/2014 of 26 June on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, consisting in non-compliance with regulatory and disciplinary rules applicable to payment institutions, in particular, those relating to the safeguarding of client funds delivered for transfer to payees.

29/09/17 Final decision
18/12/17

Penalty of withdrawal of authorisation imposed on PAY-ONE 911 EP, S.A. pursuant to Article 97(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(g) of said Law 10/2014 relating to keeping accounts with essential irregularities that prevent the net worth or financial position of the institution from being known. 

29/09/17 Final decision
18/12/17

Penalty of withdrawal of authorisation imposed on PAY-ONE 911 EP, S.A. pursuant to Article 97(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(o) of said Law 10/2014 relating to shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, when such shortcomings jeopardise the solvency or viability of the institution.

29/09/17 Final decision
18/12/17

Penalty of disqualification imposed on Mr AQUILES HERNÁNDEZ BONA, for a term of 8 years, from serving as a director or manager in any payment or financial institution, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(o) of said Law 10/2014 relating to shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, when such shortcomings jeopardise the solvency or viability of the institution.

29/09/17 Final decision
18/12/17

Penalty of disqualification imposed on Mr AQUILES HERNÁNDEZ BONA for a term of 3 years, from serving as a director or manager in any payment or financial institution, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, consisting in non-compliance with regulatory and disciplinary rules applicable to payment institutions, in particular, those relating to the safeguarding of client funds delivered for transfer to payees.

29/09/17 Final decision
18/12/17

Fine of fifty thousand euro (€50,000) imposed on Mr AQUILES HERNÁNDEZ BONA pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, consisting in non-compliance with regulatory and disciplinary rules applicable to payment institutions, in particular, those relating to the safeguarding of client funds delivered for transfer to payees.

29/09/17 Final decision
18/12/17

Fine of one hundred thousand euro (€100,000) imposed on Mr AQUILES HERNÁNDEZ BONA pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(o) of said Law 10/2014 relating to shortcomings in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, when such shortcomings jeopardise the solvency or viability of the institution.

29/09/17 Final decision
18/12/17

Penalty of disqualification imposed on Mr AQUILES HERNÁNDEZ BONA for a term of 8 years, from serving as a director or manager in any payment or financial institution, and removal from the directorship held, pursuant to Article 100(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(g) of said Law 10/2014 relating to keeping accounts with essential irregularities that prevent the net worth or financial position of the institution from being known. 

29/09/17 Final decision
18/12/17

Fine of one hundred thousand euro (€100,000) imposed on Mr AQUILES HERNÁNDEZ BONA pursuant to Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a very serious infringement of the type described in Article 92(g) of said Law 10/2014 relating to keeping accounts with essential irregularities that prevent the net worth or financial position of the institution from being known. 

29/09/17 Final decision
29/09/17

Fine imposed on FINANCIERA CARRIÓN S.A., E.F.C., totalling 60,000, provided for in Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, after application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, for the commission of a serious infringement of the type described in Article 34(2) of Law 16/2011 of 24 June 2011 on consumer credit agreements, the infringement of Articles 10 and 16 of said Law between 2013 and 2015 having been established

29/09/17 Final decision
29/09/17

Fine imposed on FINANCIERA CARRIÓN S.A., E.F.C., totalling 102,000, provided for in Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, after application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, for the commission, between 1 January 2013 and 30 June 2015, of a serious infringement of the type described in Article 5(e) of said Law 26/1988, consisting in “the execution of actions or operations in breach of the rules issued under Article 28(2) of this Law or under Article 29(2) of the Sustainable Economy Law”.

29/09/17 Final decision
29/09/17

Fine imposed on FINANCIERA CARRIÓN S.A., E.F.C., totalling 210,000, provided for in Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, after application of the reductions established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, for the commission, between 9 December 2007 and 31 March 2015, of a very serious infringement of the type described in Article 4(e) of said Law 26/1988, consisting in “the performance of actions or operations prohibited by regulatory or disciplinary rules, or without compliance with the requirements laid down therein, not merely on an occasional or isolated basis”. 

29/09/17 Final decision
09/05/17

Fine totalling €70,000, provided for in Article 10. a) of Law 26/1988, of 29 July 1988, on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), imposed on a credit institution for the commission of a serious infringement, as defined in Article 15 of Royal Decree-Law 6/2012, of 6 March 2012, on urgent measures to protect mortgage borrowers without resources, involving the breach of the obligation to provide information established in Article 5.9 of said Royal Decree-Law, the infringing conduct being limited to a single case with limited economic impact.

09/05/17 Final decision
28/07/17

Fine totalling 1,920, provided for in Article 98.1.a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions (having applied the reduction for voluntary payment, legally established in Article 85, paragraphs 2 and 3, of Law 39/2015 of 1 October 2015 on the general government common administrative procedure), imposed on a credit institution for the commission, in respect of a specific customer, of a serious infringement involving the breach of Article 3.bis.I) of Law 2/1981 of 25 March 1981 on regulation of the mortgage market, such breach being occasional or isolated in nature.

28/07/17 Final decision
04/04/17

Fine totalling €300,000 referred to in article 29.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on BANDENIA BANCA PRIVADA, PLC for the commission of a very serious infringement, consisting in using the name “banca”, having previously been requested to cease using that designation, which is reserved for credit institutions.

30/06/15 Final Decision
31/03/17

Fine totalling €10,000 referred to in article 29.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on D. Gonzalo García Vazquez due to its responsibility for the commission of a very serious infringement, consisting in using the name “bank”, denomination reserved for credit institutions, without the requisite authorisation.

24/02/16 Final decision
31/03/17

Fine totalling €50,000 referred to in article 29.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on Expertos Financieros & Inversiones due to its responsibility for the commission of a very serious infringement, consisting in using the name “bank”, denomination reserved for credit institutions, without the requisite authorisation.

24/02/16 Final decision
15/09/16

Fine totalling €20,000 imposed on Mr. ENRIQUE RUIZ JULIÁ referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
15/09/16

Fine totalling 55,000 imposed on Mr. ANTONIO MEDINA BERNABEU referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
25/11/16

Fine totalling €15,000 referred to in paragraph c) of article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on Financiera Unión del Sur, S.A., due to its responsibility for the commission of a serious infringement, as described in article 51.3 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to the safeguarding of client funds.

29/07/15 Final decision
25/11/16

Fine totalling €12,000 referred to in paragraph c) of article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on Financiera Unión del Sur, S.A., due to its responsibility for the commission of a serious infringement, as described in article 51.3 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to submit information related to the change of the Sole Administrator and its representative in order to assess their suitability.

29/07/15 Final decision
25/11/16

Fine totalling €26,000 referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on Financiera Unión del Sur, S.A., due to its responsibility for the commission of a very serious infringement, as described in article 51.1 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to conduct the accounting with essential irregularities that do not allow the financial and equity position of the entity to be known.

29/07/15 Final decision
25/11/16

Fine totalling €32,000 referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on Financiera Unión del Sur, S.A., due to its responsibility for the commission of a very serious infringement, as described in article 51.1 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to submit the annual accounts to audit in accordance with the current legislation on the matter.

29/07/15 Final decision
25/11/16

Fine totalling €30,000 referred to in paragraph a) of article 10 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on the payment institution Austrogiros Entidad de Pago, S.A., due to its responsibility for the commission of a serious infringement, as described in article 51.3 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to submit information related to the change of the Sole Administrator and its representative in order to assess their suitability.

29/07/15 Final decision
25/11/16

Fine totalling €35,000 and public reprimand published in the Official State Gazette referred to in paragraphs a) and b) of article 10 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on the payment institution Austrogiros Entidad de Pago, S.A., due to its responsibility for the commission of a serious infringement, as described in article 51.3 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to the safeguarding of client funds.

29/07/15 Final decision
25/11/16

Fine totalling €50,000 and public reprimand published in the Official State Gazette referred to in paragraphs a) and c) of article 9 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on the payment institution Austrogiros Entidad de Pago, S.A., due to its responsibility for the commission of a very serious infringement, as described in article 51.1 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to conduct the accounting with essential irregularities that do not allow the financial and equity position of the entity to be known.

29/07/15 Final decision
25/11/16

Fine totalling €60,000 referred to in paragraph a) of article 9 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, imposed on the payment institution Austrogiros Entidad de Pago, S.A., due to its responsibility for the commission of a very serious infringement, as described in article 51.1 of Law 16/2009, of 13 November, on Payment Services, consisting in non-compliance with organisational and disciplinary standards applicable to payment institutions, in particular, those relating to submit the annual accounts to audit in accordance with the current legislation on the matter.

29/07/15 Final decision
22/09/16

Fine totalling €5,000 imposed on Mr. VICENTE LAFUENTE MARTÍNEZ referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
16/09/16

Fine totalling €10,000 imposed on Mr. DANIEL VICENTE MORAGUES TORTOSA referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. JOSÉ FRANCISCO BLASCO MORÁN referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. ENRIQUE MONTES ESTELLÉS referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. SALVADOR FERRER FERNÁNDEZ referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. EMILIO DOMENECH PENALVA referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. HÉCTOR GIMENO MONDRAGÓN referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.  

30/06/15 Final decision
16/09/16

Fine totalling 20,000 imposed on Mr. FERNANDO SERRANO SASTRE referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.  

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. MIGUEL ANTONIO MILLANA SANSATURIO  referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. CARLOS CABRERA AHÍS referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €20,000 imposed on Mr. ANTONIO ALONSO MIRAVETE referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €40,000 imposed on Mr. JOSÉ MARÍA GARCÍA QUIJADA referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €40,000 imposed on Mrs. ISABEL COSME RODRÍGUEZ referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €50,000 imposed on Mr. RAMÓN RENAU FAURÓ referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.  

30/06/15 Final decision
16/09/16

Fine totalling €50,000 imposed on Mr. JORGE VELA BARGUES referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.  

30/06/15 Final decision
16/09/16

Fine totalling €50,000 imposed on Mr. SALVADOR NAVARRO PRADAS referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.  

30/06/15 Final decision
16/09/16

Fine totalling €50,000 imposed on Mr. JUAN VICENTE GÓMEZ NAVARRO referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling 50,000 imposed on Mr. JAVIER LÓPEZ MORA referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
16/09/16

Fine totalling €50,000 imposed on Mr. ENRIQUE SOTO RIPOLL referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.  

30/06/15 Final decision
16/09/16

Fine totalling 55,000 imposed on Mr. RAFAEL MONTERO GOMIS referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €60,000 imposed on Mr. JUAN MANUEL GARCÍA PUCHOL referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
16/09/16

Fine totalling €130,000 imposed on SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) referred to in paragraph a) of Article 9 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining its own funds at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
15/09/16

Fine totalling €20,000 imposed on Mr. JOSÉ HERNÁNDEZ GUIRADO referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law.

30/06/15 Final decision
15/09/16

Fine totalling €20,000 imposed on Mr. MODESTO JAIME GALINDO referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
15/09/16

Fine totalling €20,000 imposed on Mr. JUAN MANUEL SUÁREZ PALACÍN referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law. 

30/06/15 Final decision
15/09/16

Fine totalling €20,000 imposed on Mr. JOSÉ LUIS BOIX FIBLA referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
15/09/16

Fine totalling €50,000 imposed on Mr. JUAN ELOY DURÁ CATALÁ referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
15/09/16

Fine totalling €60,000 imposed on Mr. JOSÉ ROCA VALLÉS referred to in paragraph a) of Article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in Article 4.c) of said Law.

30/06/15 Final decision
18/08/16

Fine totalling €50,000 imposed on ANDRÉS SEVILA CASTELLÓ referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law.

30/06/15 Final decision
18/08/16

Fine totalling €50,000 imposed on EDUARDO LÓPEZ PÉREZ referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law.

30/06/15 Final decision
18/08/16

Fine totalling €20,000 imposed on ANDRÉS MARTÍNEZ ESPINOSA referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law. 

30/06/15 Final decision
18/08/16

Fine totalling €20,000 imposed on VICENTE FARACH PÉREZ referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law.

30/06/15 Final decision
18/08/16

Fine totalling €30,000 imposed on AGUSTÍN LLORCA RAMÍREZ referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law.

30/06/15 Final decision
18/08/16

Fine totalling €50,000 imposed on BERNABÉ SÁNCHEZ-MINGUET MARTÍNEZ referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law. 

30/06/15 Final decision
18/08/16

Fine totalling €20,000 imposed on RAMÓN ARENOS RIPOLLÉS referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, which was the law in force at the time the action was committed, for the commission of a very serious infringement consisting in maintaining the own funds of SOGAVAL (Sociedad de Garantía Recíproca de la Comunitat Valenciana) at a level below eighty percent of the minimum regulatory requirements during a period of more than six months, described in article 4.c) of said Law. 

30/06/15 Final decision
09/08/21

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to four million euro (€4,000,000), pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 15 of Real Decreto-Ley 6/2012, of march 9, on urgent measures to protect mortgage debtors without resources.

Specifically, the obligations derived from article 5.9 of the aforementioned Real Decreto-Ley have been breached, in relation to the information provided to clients on the existence and content of the Código de Buenas Prácticas, as well as, in certain cases, on the information regarding the causes of denial of requests on the documentation to be provided by the customer.

26/10/20 Final administrative decision
09/08/21

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to two million euro (€2,000,000), pursuant to Article 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 15 of Real Decreto-Ley 6/2012, of march 9, on urgent measures to protect mortgage debtors without resources.

Specifically, the obligations derived from article 5.4 of the aforementioned Real Decreto-Ley have been breached, related to issues such as the moment in which the economic effects of the restructuring should be applied, and, in certain cases, their amortization period or the requirement of additional conditions to those established in the standard.

26/10/20 Final administrative decision