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
27-11-17

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on BEP Corporación Financiera, S.L.U. a fine of three hundred and eighty thousand euro (€380,000) for engaging, without authorisation, in 2014 and 2015, in activities legally restricted to payment institutions, which constitutes a very serious infringement (Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in conjunction with Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

Final decision
27-11-17

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on BEP Corporación Financiera, S.L.U. a fine of three hundred and seventy-five thousand euro (€375,000) for using, without authorisation, in 2014 and 2015, names that may only be used by credit institutions or other names that may lead to their being mistaken for them, which constitutes a very serious infringement (Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

Final decision
27-11-17

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on Ms María Nieves Artiles Pérez, sole director of BEP Corporación Financiera, S.L.U., a fine of forty thousand euro (€40,000) for engaging, without authorisation, in 2014 and 2015, in activities legally restricted to payment institutions, which constitutes a very serious infringement (Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in conjunction with Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

Final decision
27-11-17

At its meeting on 27 November 2017, the Governing Council of the Banco de España resolved to impose on Ms María Nieves Artiles Pérez, sole director of BEP Corporación Financiera, S.L.U., a fine of twenty-five thousand euro (€25,000) for using, without authorisation, in 2014 and 2015, names that may only be used by credit institutions or other names that may lead to their being  mistaken for them, which constitutes a very serious infringement (Article 92(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).

Final administrative decision. Currently under appeal before the courts with precautionary suspension of sanction
27-11-17

Fine of four hundred and fifty thousand euro (€450.000) imposed on ING BANK, N.V., Branch in Spain, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, after the 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 very serious infringement of the type described in Article 4(j) of said Law 26/1988.

Final decision
27-11-17

Fine of fifteen thousand euro (€15,000) imposed on a director or executive in a credit institution, pursuant to Article 12(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, this being the substantive sanctioning legislation applicable in view of the time when the acts were committed, for the commission of a very serious infringement of the type described in Article 4(j) of said Law 26/1988.

Final decision
27-11-17

Fine of twenty-five thousand euro (€25,000) imposed on a director or executive in a credit institution, pursuant to Article 12(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, this being the substantive sanctioning legislation applicable in view of the time when the acts were committed, for the commission of a very serious infringement of the type described in Article 4(j) of said Law 26/1988.

Final decision