Banking Supervision

Fine imposed on Gesvalt Sociedad de Tasación, S.A., amounting to one hundred and thirty six thousand euros (€136,000) – after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government –, provided for in Article 97(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, as defined in Article 3.(bis.2)(a).3ª of Law 2/1981 of 25 March 1981 on mortgage market regulation, comprising shortcomings in the administrative, technical or personnel organisation of the institution or in its internal control procedures. As a result of those shortcomings, the following were not ensured: the institution’s capacity to ascertain the situation and conditions of the real estate market in which it operates, uniform compliance with the applicable appraisal rules, its professional independence from shareholders or customers, and control of the incompatibility obligations applicable to the professionals in its service.

Fine imposed on Ms. Sandra Aránzazu Daza Silva, director and general manager of  Gesvalt Sociedad de Tasación, S.A.., amounting to thirteen thousand six hundred euros (€13,600) – after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government –, provided for in 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, as defined in Article 3(bis.2)(a).3ª of Law 2/1981 of 25 March 1981 on mortgage market regulation, comprising shortcomings in the administrative, technical or personnel organisation of the institution or in its internal control procedures. As a result of those shortcomings, the following were not ensured: the institution’s capacity to ascertain the situation and conditions of the real estate market in which it operates, uniform compliance with the applicable appraisal rules, its professional independence from shareholders or customers, and control of the incompatibility obligations applicable to the professionals in its service.

Fine imposed on Mr. Germán Casaseca Hontoria, president and chief executive officer of  Gesvalt Sociedad de Tasación, S.A., amounting to thirteen thousand six hundred euros (€13,600)– after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government –, provided for in 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, as defined in Article 3(bis.2)(a).3ª of Law 2/1981 of 25 March 1981 on mortgage market regulation, comprising shortcomings in the administrative, technical or personnel organisation of the institution or in its internal control procedures. As a result of those shortcomings, the following were not ensured: the institution’s capacity to ascertain the situation and conditions of the real estate market in which it operates, uniform compliance with the applicable appraisal rules, its professional independence from shareholders or customers, and control of the incompatibility obligations applicable to the professionals in its service.

Fine imposed on Mr. Guillermo Masso López, director of  Gesvalt Sociedad de Tasación, S.A., amounting to six thousand four hundred euros (€6,400) – after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the common administrative procedure for general government –, provided for in 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, as defined in Article 3(bis.2)(a).3ª of Law 2/1981 of 25 March 1981 on mortgage market regulation, comprising shortcomings in the administrative, technical or personnel organisation of the institution or in its internal control procedures. As a result of those shortcomings, the following were not ensured: the institution’s capacity to ascertain the situation and conditions of the real estate market in which it operates, uniform compliance with the applicable appraisal rules, its professional independence from shareholders or customers, and control of the incompatibility obligations applicable to the professionals in its service.