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
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision
30-07-18

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.

Final decision