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
15/02/19

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).

27/11/17 Final decision
15/02/19

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).

27/11/17 Final decision
15/02/19

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).

27/11/17 Final decision
15/02/19

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).

27/11/17 Final decision