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
30-05-19

Fine imposed on Intercredit, Inc., amounting to seventy-two thousand euro (€72,000) — after application of a reduction of 40% established in  Article 85 of Law 39/2015 of 1 October 2015 on  the general government common administrative procedure —, pursuant to Article 97(1)(a)(1) 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 defined in Article 4(4)  of Law 16/2009 of 13 November 2009 on payment services (in force at the time of the infringement), relating to Article 92(aa) of said Law 10/2014.

This infringement consists of the repeated provision on a professional basis of payment services without having the status of a payment services provider.

Final decision
30-05-19

Fine imposed on Mr Rubén Fernando Saavedra, in his capacity as chairman of Intercredit, Inc., amounting to nine thousand euro (€9,000) — after application of a reduction of 40% established in  Article 85 of Law 39/2015 of 1 October 2015 on  the general government common administrative procedure —, 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 defined in Article 4(4)  of Law 16/2009 of 13 November 2009 on payment services (in force at the time of the infringement), relating to Article 92(aa) of said Law 10/2014.

This infringement consists of the repeated provision on a professional basis of payment services without having the status of a payment services provider.

Final decision