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
21/02/23

Decision: Fine on Mr. José Antonio Muro Calero, Vice Chairman and General Manager of TECNITASA Técnicos en Tasación, S.A., amounting to TWENTY-TWO THOUSAND euro (€22,000).

Reason: Very serious infringement 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.

Applicable legislation: Law 10/2014 and Law 2/1981

 30/03/22 Final decision
21/02/23

Decision: Fine on TECNITASA Técnicos en Tasación, S.A., amounting to TWO HUNDRED AND TWENTY-FIVE THOUSAND euro (€225,000).

Reason: Very serious infringement 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.

Applicable legislation: Law 10/2014 and Law 2/1981

 30/03/22 Final decision
21/02/23

Decision: Fine on Mr. José María Basáñez Agarrado, Chairman of the Board of Directors of TECNITASA Técnicos en Tasación, S.A., amounting to THIRTEEN THOUSAND euro (€13,000).

Reason: Very serious infringement 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.

Applicable legislation: Law 10/2014 and Law 2/1981

 30/03/22 Final decision
21/02/23

Decision: Fine on Mr. Manuel Ramos Letrán, Director of TECNITASA Técnicos en Tasación, S.A., amounting to THIRTEEN THOUSAND euro (€13,000).

Reason: Very serious infringement 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.

Applicable legislation: Law 10/2014 and Law 2/1981

 30/03/22 Final decision
21/02/23

Decision: Fine on Mr. Luis Elías Rodríguez-Viña González, Chief Executive Officer of TECNITASA Técnicos en Tasación, S.A., amounting to TWENTY-TWO THOUSAND euro (€22,000).

Reason: Very serious infringement 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.

Applicable legislation: Law 10/2014 and Law 2/1981

 30/03/22 Final decision
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