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.

Publication date Information on infringements and sanctions imposed Decision date Status
28/12/18

Fine imposed on CAIXABANK, S.A., amounting to three million six hundred thousand euro (€3,600,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement, as defined in Article 4(e) of this latter Law.

Breaches of rules with the status of a law have been detected in relation to the limits imposed by Law 41/2007 on exit fees for early repayments, to the rules on the replacement of benchmark indices established in the Fifteenth Additional Provision of Law 14/2013 and to the rules on interest rate rounding in the Twelfth Additional Provision of Law 44/2002.

30/11/18 Final decision
28/12/18

 

Fine imposed on CAIXABANK, S.A., amounting to one million two hundred thousand euro (€1,200,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of this latter Law.

Breaches have been detected of specific requirements relating to the delivery of pre-contractual information, to the minimum content of such information and of contractual documentation, to the method of calculating the annual percentage rate (APR) and to the information provided in respect of compensation for bearing interest-rate risk in early repayments. All these obligations are laid down in Ministerial Order 2899/2011 and Banco de España Circular 5/2012.

30/11/18 Final decision
28/12/18

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to one million five hundred thousand euro (€1,500,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of this latter Law.

Breaches have been detected of specific requirements relating to the delivery of pre-contractual information to the customer, to the method of calculating the annual percentage rate (APR), to the information provided in respect of compensation for bearing interest-rate risk in early repayments and to the charging of commission for the removal of a discharged mortgage from the Land Registry, and, finally, to the custody of contractual documentation. All these obligations are laid down in Ministerial Order 2899/2011 and Banco de España Circular 5/2012.

30/11/18 Final decision
28/12/18

 

Fine imposed on BANCO BILBAO VIZCAYA ARGENTARIA, S.A., amounting to one million two hundred thousand euro (€1,200,000), after application of the reductions envisaged in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanctioning proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(d) of this latter Law.

Occasional or isolated breaches of rules with the status of a law have been detected. These are specifically breaches relating to the limits imposed by Law 41/2007 on exit fees for early repayments and to the rules on the replacement of benchmark indices established in the Fifteenth Additional Provision of Law 14/2013.

30/11/18 Final decision
18/12/18

Fine imposed on CAIXABANK, S.A. amounting to three hundred and fifty thousand euro (€350,000) pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, which was the law in force at the time the acts concerned were committed, for the commission of a serious infringement of the type described in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship.

This infringement has been committed as a result of the Institution being in breach of certain obligations relating to how the Code of Good Practice should be applied and the information that should be provided to the customer on the Code (respectively, Article 5(4) and Article 5(9) of Royal Decree-Law 6/2012).

30/05/18 Final decision
05/12/18

The payment institution Transferencias América, S.A. has been fined thirty five thousand euro (€35,000), under Article 10(a) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as it failed to have  proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

The payment institution Transferencias América, S.A. has been fined one hundred thousand euro (€100,000), under Article 97(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as its own funds were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

The payment institution Transferencias América, S.A. has been fined thirty five thousand euro (€35,000), under Article 10(a) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as it failed to comply with obligations regarding the safeguarding of customer funds delivered for transfer to payees.

28/09/18 Final decision
07/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

Ms Silvia Patricia Miranda Juárez, Chair of the Board of Directors and Chief Executive Officer of Transferencias América S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to comply with obligations regarding the safeguarding of customer funds delivered for transfer to payees.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Farrera, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Farrera, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts concerned were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Mr José Antonio Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
07/12/18

Mr Andres Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined fifteen thousand euro (€15,000), under Article 13(1)(c) of Law 26/1988 of 29 July on the discipline and intervention of credit institutions (in force at the time the acts in question were committed), for a serious infringement, of the type described in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, as this entity failed to have proper administration and management in Spanish territory.

28/09/18 Final decision
07/12/18

Mr Andres Zamudio Miranda, member of the Board of Directors of Transferencias América, S.A., has been fined twenty thousand euro (€20,000), under Article 100(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for a very serious infringement, of the type described in Article 92(d) of said Law 10/2014, as the own funds of this entity were below eighty per cent of the minimum level required for the risks taken, from 30 June 2016 to 12 January 2017.

28/09/18 Final decision
22/11/18

Fine imposed on BANKIA, S.A., in its capacity as universal successor of Banco Mare Nostrum, S.A., amounting to nine hundred thousand euro (€900,000), 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, pursuant to Article 9(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a very serious infringement, as defined in Article 4(e) of said Law, consisting in the performance of actions or operations prohibited by regulatory and disciplinary provisions laid down by statute or in breach of the requirements laid down therein, not merely on an occasional or isolated basis.

26/10/18 Final decision
22/11/18

Fine imposed on BANKIA, S.A., in its capacity as universal successor of Banco Mare Nostrum, S.A., amounting to three hundred thousand euro (€300,000), 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, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of said Law, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of the Sustainable Economy Law, and, in particular, in breach of Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012.

26/10/18 Final decision
22/11/18

Fine imposed on BANKIA, S.A., amounting to nine hundred thousand euro (€900,000), 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, pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement, as defined in Article 5(e) of said Law, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of the Sustainable Economy Law, and, in particular, in breach of Ministerial Order EHA/2899/2011 and Banco de España Circular 5/2012.

26/10/18 Final decision
19/11/18

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.

29/09/17 Final decision
19/11/18

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.

29/09/17 Final decision
19/11/18

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.

29/09/17 Final decision
03/10/18

Fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), pursuant to Article 97 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
03/10/18

Secondary measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 97(2)(c) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, of the fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
03/10/18

Fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), pursuant to Article 97 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
03/10/18

Secondary measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 97(2)(c) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, of the fine imposed on MARVIN MANAGEMENT, S.L., amounting to five hundred and fifty thousand euro (€550,000), for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
03/10/18

Fine imposed on Mr VINCENZO CARPANZANO, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
03/10/18

Penalty imposed on Mr VINCENZO CARPANZANO of disqualification for a period of 5 years from serving as a director or manager in any credit 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(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
03/10/18

Fine imposed on Mr VINCENZO CARPANZANO, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
03/10/18

Penalty imposed on Mr VINCENZO CARPANZANO of disqualification for a period of 5 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 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
03/10/18

Fine imposed on Mr MARIO EMMRICH, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
03/10/18

Penalty imposed on Mr MARIO EMMRICH of disqualification for a period of 5 years from serving as a director or manager in any credit 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(a) of said Law 10/2014 consisting in carrying out, without authorisation, activities legally reserved for credit institutions.

30/07/18 Final decision
03/10/18

Fine imposed on Mr MARIO EMMRICH, amounting to fifty thousand euro (€50,000), pursuant to Article 100 of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission in 2016 and 2017 of a very serious infringement of the type described in Article 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92(a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
03/10/18

Penalty imposed on Mr MARIO EMMRICH of disqualification for a period of 5 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 4(4) of Law 16/2009 of 13 November 2009 on payment services, in relation to Article 92 (a) of said Law 10/2014, consisting in carrying out, without authorisation, activities legally reserved for payment institutions.

30/07/18 Final decision
28/09/18

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.

29/09/17 Final decision
28/09/18

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.

29/09/17 Final decision
28/09/18

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.

29/09/17 Final decision
07/09/18

Fine of four million euro (€4,000,000) imposed on BANKIA, 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, between July 2013 and December 2014, of a serious infringement, as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 5(4) of said Royal Decree-Law 6/2012, relating to the due implementation of the Code of Good Practice annexed to this Royal Decree-Law.

30/06/17 Final decision
07/09/18

Fine of four million euro (€4,000,000) imposed on BANKIA, 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, between July 2013 and December 2014, of a serious infringement, as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 5(9) of said Royal Decree-Law 6/2012, relating to the duty to publicise and inform its customers about the Code of Good Practice annexed to this Royal Decree-Law.

30/06/17 Final decision
03/09/18

Fine of one million euro (€1,000,000) imposed on a credit institution 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, as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 6(5) of said Royal Decree-Law 6/2012, involving the obligation to periodically submit information to the Banco de España, relating to the implementation of the Code of Good Practice annexed to this Royal Decree-Law.

30/06/17 Final decision
24/08/18

Fine imposed on BANCO SANTANDER, S.A., amounting to four hundred and eighty-five thousand euro (€485,000), pursuant to Article 98(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 as defined in Article 15 of Royal Decree-Law 6/2012 of 9 March 2012 on urgent measures to protect mortgagors experiencing financial hardship, having failed to fulfil its obligations under Article 5(4) of said Royal Decree-Law 6/2012, relating to the due implementation of the Code of Good Practice.

24/10/17 Final decision
27/07/18

Fine imposed on BANCA PUEYO, S.A., amounting to eight hundred and seventy six thousand euro (€876,000) 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, pursuant to Article 98(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 defined in Article 93(f) of said Law 10/2014, consisting in the performance, between 1 January 2015 and 30 September 2016, of actions and operations in breach of the rules issued under Article 5 of said Law 10/2014 and, in particular, in breach of Ministerial Order EHA/2899/2011 of 28 October 2011 on transparency and protection of banking service costumers and Banco de España Circular 5/2012 of 27 June 2012, addressed to credit institutions and payment service providers, on banking service transparency and responsible lending.

29/06/18 Final decision
27/07/18

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.

29/11/16 Final decision.
25/06/18

Fine imposed on BANCO PICHINCHA ESPAÑA, S.A., amounting to three hundred and fifty one thousand euro (€351,000) 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, pursuant to Article 98(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 defined in Article 93(f) of said Law 10/2014, consisting in the performance, between 1 January 2015 and 30 September 2016, of actions and operations in breach of the rules issued under Article 5 of said Law 10/2014 and, in particular, in breach of Ministerial Order EHA/2899/2011 of 28 October 2011 on transparency and protection of banking service costumers and Banco de España Circular 5/2012 of 27 June 2012, addressed to credit institutions and payment service providers, on banking service transparency and responsible lending.

30/05/18 Final decision
16/04/18

Fine of seventy thousand euro (€70,000) imposed on Mr. FABRIZIO SIGNORELLI, sole administrator of Best and Fast Change España, S.A., 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 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
16/04/18

Penalty of disqualification imposed on Mr. FABRIZIO SIGNORELLI, sole administrator of Best and Fast Change España, S.A., from serving as a director or manager in any payment or financial institution, and removal from the office of sole administrator, for a term of two years, 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 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998, on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
16/04/18

Fine of forty thousand euro (€40,000) imposed on Ms. ALEJANDRA FERRAGUT ASTOL, general director of Best and Fast Change España, S.A., provided for in 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 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
16/04/18

Penalty of disqualification imposed on Ms. ALEJANDRA FERRAGUT ASTOL, general director of Best and Fast Change España, S.A., from serving as a director or manager in any payment or financial institution, and removal from the directorship held, for a term of one year, 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 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998, on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting of “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
06/04/18

Fine of €184,000 imposed on Banco Cetelem, S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, the substantive sanctioning legislation applicable in view of the time when the acts were committed (after application of the reduction for voluntary payment established in Article 85(2) and (3) 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.

24/10/17 Final decision
06/04/18

Fine of €80,000 imposed on Banco Cetelem, S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, the substantive sanctioning legislation applicable in view of the time when the acts were committed (after application of the reduction for voluntary payment established in Article 85(2) and (3), 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 51(3) of Law 16/2009 of 13 November, on payment services.

24/10/17 Final decision
06/04/18

Fine of €320,000 imposed on Banco Cetelem, S.A., pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, the substantive sanctioning legislation applicable in view of the time when the acts were committed (after application of the reduction for voluntary payment established in Article 85(2) and (3) 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 5(e) of Law 26/1988.

24/10/17 Final decision
20/03/18

Accessory measure consisting in a public reprimand, with publication in the Official State Gazette, pursuant to Article 98(2)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, of the fine imposed on BEST AND FAST CHANGE ESPAÑA, S.A. of one and a half million euro (€1,500,000), envisaged in Article 98(1)(a) of Law 10/2014 for the commission of a serious infringement of the type described in Article 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting in “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
20/03/18

Fine of one and a half million euro (€1,500,000) imposed on BEST AND FAST CHANGE ESPAÑA, S.A., pursuant to Article 98(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 7(3)(II)(b) of Royal Decree 2660/1998 of 14 December 1998 on foreign currency exchange in establishments open to the public other than credit institutions, in connection with Article 93(e) of Law 10/2014, consisting in “the performance of actions or operations prohibited by the regulations governing currency-exchange bureaux, or in breach of the requirements laid down therein, not merely on an occasional or isolated basis”, all the foregoing for failing to provide sufficient information to its customers, in particular relating to commission charges.

26/05/17 Final decision
05/02/18

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.

27/11/17 Final decision
05/02/18

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.

27/11/17 Final decision