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
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision
28-09-18

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.

Final decision