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.

Decision date Information on infringements and sanctions imposed Status
29-07-15

Fine totalling €3,000 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 AUSTROBANK OVERSEAS (PANAMÁ), 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 provided for its transfer to the payees.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
29-07-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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. 

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

Fine totalling €50,000 imposed on Mr. MARTIRÍAN MARTÍN SERRA 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.

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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. 

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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. 

Final decision
30-06-15

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. 

Final decision
30-06-15

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.  

Final decision
30-06-15

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.

Final decision
30-06-15

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.  

Final decision
30-06-15

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.

Final decision
30-06-15

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. 

Final decision
30-06-15

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. 

Final decision
30-06-15

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.

Final decision
30-06-15

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.

Final decision
30-06-15

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. 

Final decision
30-06-15

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. 

Final decision
30-06-15

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.

Final decision
30-06-15

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.  

Final decision
30-06-15

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.

Final decision
30-06-15

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. 

Final decision
30-06-15

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.  

Final decision
30-06-15

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. 

Final decision
30-06-15

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. 

Final decision
30-06-15

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.

Final Decision
30-06-15

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.

Final decision
30-06-15

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.  

Final decision
30-06-15

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. 

Final decision
30-06-15

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.  

Final decision
30-06-15

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. 

Final decision