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
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