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
20/11/20

Penalty imposed on Ms. Susana Ruiz Robles,  sole director of Austrogiros Entidad de Pago S.A., of disqualification from serving as a director or manager at any financial sector entity for a period of 1 year, pursuant to Article 101(1)(d) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 51(3) of Law 16/2009 of 13 November 2009 on payment services, comprising the failure to comply with regulatory and disciplinary rules applicable to payment institutions.

Specifically, there was a failure to comply with rules requiring payment institutions to have an  effective administration and management in Spanish territory.

20/11/20 Final decision
20/11/20

Fine imposed on Ms. Susana Ruiz Robles, sole director of Austrogiros Entidad de Pago S.A., amounting to five thousand euro (€5,000), pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(l) of said Law 10/2014.

This infringement consisted in the failure to send, the late sending of or the sending of inaccurate financial and accounting information or information on agents, plans for returning to compliance or the shareholding structure.

20/11/20 Final decision
20/11/20

Fine imposed on Ms. Susana Ruiz Robles, sole director of Austrogiros Entidad de Pago S.A., amounting to five thousand euro (€5,000), pursuant to Article 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(l) of said Law 10/2014.

This infringement consisted in the failure to send, the late sending of or the sending of inaccurate financial and accounting information or information on agents, plans for returning to compliance or the shareholding structure.

20/11/20 Final decision
14/12/20

Fine imposed on Participaciones y Cartera de Inversión, S.L., director of Avalmadrid, a mutual guarantee company, amounting to thirty-three thousand two hundred fifty euro (€33,250), 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 monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
27/11/20

Fine imposed on Mr. José María Rotellar García, director of Avalmadrid, a mutual guarantee company, amounting to eighteen thousand euro (€18,000), 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).

22/10/19 Final administrative decision. Currently under appeal before the courts
27/11/20

Fine imposed on the Consejería de Economía, Empleo y Competitividad de la Comunidad de Madrid, director of Avalmadrid, a mutual guarantee company, amounting to forty-seven thousand five hundred euro (€47,500), 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).

22/10/19 Final decision
24/11/20

Fine imposed on Mr. Juan Iranzo Martín, director of Avalmadrid, a mutual guarantee company, amounting to four thousand euro (€4,000), 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 monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
24/11/20

Fine imposed on Mr. Jorge Morán Santor, general director of Avalmadrid, a mutual guarantee company, amounting to fifteen thousand euro (€15,000), 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 monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/11/20

Fine imposed on Mr. Pedro Irigoyen Barja, director of Avalmadrid, a mutual guarantee company, amounting to ten thousand euro (€10,000), 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 monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/11/20

Fine imposed on Banco Santander, S.A.,  in its capacity as universal successor of Banco Popular Español, S.A., director of Avalmadrid, a mutual guarantee company, amounting to thirty-three thousand two hundred fifty euro (€33,250), 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 monitoring).

22/10/19 Final administrative decision. Currently under appeal before the courts
23/11/20

Fine imposed on Mr. Juan Luis Fernández-Rubíes Lillo,  general director of Avalmadrid, a mutual guarantee company, amounting to forty-five thousand euro (€45,000), 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).

22/10/19 Final administrative decision. Currently under appeal before the courts
26/06/20

Fine imposed on Bankinter, S.A., amounting to five million two hundred thousand euro (€5,200,000) – after application of a 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 98(1)(b) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(f) of said Law 10/2014, comprising the performance between 1 January 2015 and 31 December 2017, of actions or operations in breach of the rules issued under Article 5 of said law.

Specifically, Ministerial Order 2899/2011 and Banco de España Circular 5/2012 were breached in respect of the provision of pre-contractual information, the calculation of the APR included in said information and the omission of the aforementioned rate from the contractual documentation, and the expenses charged to customers for agency services.

26/06/20 Final administrative decision Currently under appeal before the courts
11/06/20

Fine imposed on Astur de hipotecas, S.L. amounting to one hundred and twenty thousand euro (€120,000) — after the application of the reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government-, pursuant to Article 97(1)(a)(2°) 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, as defined in Article 92(a) of said Law 10/2014.

This infringement consisted of engaging without authorisation in activities legally reserved for credit institutions.

11/06/20 Final decision
11/06/20

Ancillary measure consisting in a public reprimand of Astur de Hipotecas, S.L. with publication in the Official State Gazette, provided for in Article 97(2)(c) 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 defined in Article 92(a) of said Law 10/2014 that consisted of engaging without authorisation in activities legally reserved for credit institutions.

11/06/20 Final decision
11/06/20

Fine imposed on D.ª María Ángeles González González, in her capacity as sole director of Astur de hipotecas, S.L., amounting to nine thousand euro (€9,000) — after the application of the reduction of 40% established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government —, pursuant to Article 100 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, as defined in Article 92(a) of said Law 10/2014.

This infringement consisted of engaging without authorisation in activities legally reserved for credit institutions.

11/06/20 Final decision
16/07/20

Fine imposed on BMCE Bank International, S.A. amounting to six hundred thousand euro (€600,000) — 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)(2) 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 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
16/07/20

Penalty of disqualification imposed on Mr Radi Mahmud Hamudeh, who held various posts at BMCE Bank International, S.A. (Director-General Manager and Chief Executive Officer), from serving as a director or manager at any credit institution or in the financial sector for a period of 4 years, 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 defined in Article 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Mohammed Agoumi, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to twenty-four thousand euro (€24,000) — after application of a 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 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Azzeddine Guessous, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to twenty-two thousand euro (€22,000) — after application of a 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 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Mohammed-Brahim Benjelloun-Touimi, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to nineteen thousand two hundred euro (€19,200) — after application of a 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 101(1)(a) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions, for the commission of a serious infringement, of the type defined in Article 93(p) of said Law 10/2014.

This infringement consisted of shortcomings detected at the aforementioned institution in its organisational structure, in its internal control mechanisms or in its administrative and accounting procedures, without said shortcomings jeopardising the solvency or viability of the institution.

30/09/19 Final decision
16/07/20

Fine imposed on Mr Jerónimo Páez López, in his capacity as member of the Board of Directors of BMCE Bank International, S.A., amounting to forty-three thousand euro (€43,000) 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 92(w) of said Law 10/2014.

This infringement consisted of breaches detected relating to corporate governance and the remuneration policy.

30/09/19 Final decision