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