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
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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. 

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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. 

Final decision
29-09-17

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. 

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

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”.

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”. 

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision
29-09-17

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.

Final decision