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
22-10-19

Fine imposed on Avalmadrid, a mutual guarantee company, amounting to ninety five thousand euro (€95,000), 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, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

Final decision
22-10-19

Fine imposed on the Chamber of Commerce, Industry and Services of Madrid, director of Avalmadrid, a mutual guarantee company, amounting to thirty eight thousand four hundred euro (€38,400) —after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure—, pursuant to Article 13(1)(c) 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, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

Final administrative decision. Currently under appeal before the courts
22-10-19

Fine imposed on Mr. Juan Pablo Lázaro Montero de Espinosa, director of Avalmadrid, a mutual guarantee company, amounting to ten thousand four hundred euro (€10,400)—after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure—, pursuant to Article 13(1)(c) 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, of the type defined in Article 5(r) of said Law 26/1988.

This infringement arose as the Entity failed to comply with a Banco de España requirement relating to internal control (risk concentration and monitoring).

Final administrative decision. Currently under appeal before the courts