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
29-11-16

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.

Final decision.
21-03-16

Fine totalling €10,000 imposed on TECHNOACTIVITY, S.L. referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance since August 2014 with organizational and disciplinary standards applicable to payment institutions, namely those imposing the obligation to notify the Bank of Spain of the intention to delegate any essential operational functions at least one month prior to said delegation. This infringement is described in Article 51.3 of Law 16/2009, of 13 November, on Payment Services.   

Final decision
21-03-16

Fine totalling €6,000 imposed on TECHNOACTIVITY, S.L. referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in maintaining the own funds of Mobile Global Payments, S.L. at a level below the minimum regulatory requirements, remaining in such situation during a period of at least six months (namely, from the 31st of December 2013 to the 24th of December 2014). This infringement is described in Article 5.h) of said Law, applicable by virtue of the reference made by article 51.1 of Law 16/2009, of 13 November, on Payment Services.     

Final decision
21-03-16

Fine totalling €10,000 imposed on JOSÉ MIGUEL ROTAECHE MONTALVO referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance since August 2014 with organizational and disciplinary standards applicable to payment institutions, namely those imposing the obligation to notify the Bank of Spain of the intention to delegate any essential operational functions at least one month prior to said delegation. This infringement is described in Article 51.3 of Law 16/2009, of 13 November, on Payment Services.   

Final decision
21-03-16

Fine totalling €6,000 imposed on JOSÉ MIGUEL ROTAECHE MONTALVO referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in maintaining the own funds of Mobile Global Payments, S.L. at a level below the minimum regulatory requirements, remaining in such situation during a period of at least six months (namely, from the 31st of December 2013 to the 24th of December 2014). This infringement is described in article 5.h) of said Law, applicable by virtue of the reference made by Article 51.1 of Law 16/2009, of 13 November, on Payment Services.     

Final decision
21-03-16

Fine totalling €15,000 imposed on  JOSÉ MARÍA MARTÍN DIEZ referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance since August 2014 with organizational and disciplinary standards applicable to payment institutions, namely those imposing the obligation to notify the Bank of Spain of the intention to delegate any essential operational functions at least one month prior to said delegation. This infringement is described in Article 51.3 of Law 16/2009, of 13 November, on Payment Services.

Final decision
21-03-16

Fine totalling €3,000 imposed on JOSÉ MARÍA MARTÍN DIEZ referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance since August 2013 with organizational and disciplinary standards applicable to payment institutions, namely those relating to the safeguarding of client funds provided for its transfer to the payees,. This infringement is described in Article 51.3 of Law 16/2009, of 13 November, on Payment Services.

Final decision
21-03-16

Fine totalling €6,000 imposed on JOSÉ MARÍA MARTÍN DIEZ referred to in paragraph c) of Article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in maintaining the own funds of Mobile Global Payments, S.L. at a level below the minimum regulatory requirements, remaining in such situation during a period of at least six months (namely, from the 31st of December 2013 to the 24th of December 2014). This infringement is described in Article 5.h) of said Law, applicable by virtue of the reference made by article 51.1 of Law 16/2009, of 13 November, on Payment Services.     

Final decision
21-03-16

Fine totalling €30,000 imposed on MOBILE GLOBAL PAYMENTS, S.L. referred to in paragraph a) of Article 10 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance since August 2014 with organizational and disciplinary standards applicable to payment institutions, namely those imposing the obligation to notify the Bank of Spain of the intention to delegate any essential operational functions at least one month prior to said delegation. This infringement is described in Article 51.3 of Law 16/2009, of 13 November, on Payment Services.   

Final decision
21-03-16

Fine totalling €10,000 imposed on MOBILE GLOBAL PAYMENTS, S.L. referred to in paragraph a) of Article 10 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance since August 2013 with organizational and disciplinary standards applicable to payment institutions, namely those relating to the safeguarding of client funds provided for its transfer to the payees. This infringement is described in Article 51.3 of Law 16/2009, of 13 November, on Payment Services.   

Final decision
21-03-16

Fine totalling €20,000 imposed on MOBILE GLOBAL PAYMENTS, S.L. referred to in paragraph a) of Article 10 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in maintaining the entity own funds at a level below the minimum regulatory requirements, remaining in such situation during a period of at least six months (namely, from the 31st of December 2013 to the 24th of December 2014). This infringement is described in article 5.h) of said Law, applicable by virtue of the reference made by Article 51.1 of Law 16/2009, of 13 November, on Payment Services.

Final decision
24-02-16

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.

Final decision
24-02-16

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.

Final decision
19-01-16

Fine totalling 12.000€ imposed on PATRICK HAMMONDS BATES referred to in paragraph c) of article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, due to his responsibility for the commission of a serious infringement consisting in non-compliance with organizational and disciplinary standards applicable to payment institutions, in particular those relating to the safeguarding of client funds provided for its transfer to the payees, during the first half of 2014. This infringement is described in article 51.3 of Law 16/2009, of 13 November, on Payment Services.

Final decision
19-01-16

Fine totalling 25.000€ imposed on PATRICK HAMMONDS BATES referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a very serious infringement consisting in maintaining the own funds of Europhil United EP, S.A.-between April and November 2014- at a level below eighty percent of the minimum regulatory requirements, according to the risks assumed, remaining in such situation during a period of at least six months. This infringement is described in article 4.c) of said Law, applicable by virtue of the reference made by article 51.1 of Law 16/2009, of 13 November, on Payment Services.

Final decision
19-01-16

Fine totalling 16.000€ imposed on FRANCISCO MORENO DELGADO referred to in paragraph c) of article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, due to his responsibility for the commission of a serious infringement consisting in non-compliance with organizational and disciplinary standards applicable to payment institutions, in particular those relating to the safeguarding of client funds provided for its transfer to the payees, during the first half of 2014. This infringement is described in article 51.3 of Law 16/2009, of 13 November, on Payment Services.  

Final decision
19-01-16

Fine totalling 25.000€ imposed on FRANCISCO MORENO DELGADO referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a very serious infringement consisting in maintaining the own funds of Europhil United EP, S.A.-between April and November 2014 - at a level below eighty percent of the minimum regulatory requirements, according to the risks assumed, remaining in such situation during a period of at least six months. This infringement is described in article 4.c) of said Law, applicable by virtue of the reference made by article 51.1 of Law 16/2009, of 13 November, on Payment Services.

Final decision
19-01-16

Fine totalling 12.000€ imposed on EDUARDO VILLALOBOS referred to in paragraph c) of article 13.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, due to his responsibility for the commission of a serious infringement consisting in non-compliance with organizational and disciplinary standards applicable to payment institutions, in particular those relating to the safeguarding of client funds provided for its transfer to the payees, during the first half of 2014. This infringement is described in article 51.3 of Law 16/2009, of 13 November, on Payment Services.  

Final decision
19-01-16

Fine totalling €25.000 imposed on EDUARDO VILLALOBOS referred to in paragraph a) of article 12.1 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a very serious infringement consisting in maintaining the own funds of Europhil United EP, S.A.-between April and November 2014 - at a level below eighty percent of the minimum regulatory requirements, according to the risks assumed, remaining in such situation during a period of at least six months. This infringement is described in article 4.c) of said Law, applicable by virtue of the reference made by article 51.1 of Law 16/2009, of 13 November, on Payment Services.

Final decisión
19-01-16

Fine totalling €25.000 imposed on UNITED EUROPHIL EP, S.A. referred to in paragraph a) of article 10 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a serious infringement consisting in non-compliance with organizational and disciplinary standards applicable to payment institutions, in particular those relating to the safeguarding of client funds provided for its transfer to the payees, during the first half of 2014. This infringement is described in article 51.3 of Law 16/2009, of 13 November, on Payment Services.

Final decision
19-01-16

Fine totalling €50.000 imposed on UNITED EUROPHIL EP, S.A. referred to in paragraph a) of article 9 of Law 26/1988, of 29 July, on the Discipline and Intervention of Credit Institutions, for the commission of a very serious infringement consisting in maintaining the entity own funds – between April and November 2014 - at a level below eighty percent of the minimum regulatory requirements, according to the risks assumed, remaining in such situation during a period of at least six months. This infringement is described in article 4.c) of said Law, applicable by virtue of the reference made by article 51.1 of Law 16/2009, of 13 November, on Payment Services.

Final decision