Spain

The company failed to publish related-party transactions as required. The CNMV Board resolution is dated 25 June 2026 and the notice appeared in the BOE of 3 August 2026; the company waived administrative appeal.

The CNMV Board imposed fines totalling EUR 600,000 on the firm for three very serious infringements concerning organisational requirements, product governance, and client information and suitability assessment. Directors Juan Colón Bolea and Javier Colón Bolea were fined EUR 160,000 each and Ignacio Sánchez-Asiaín Sanz EUR 128,000. Published in the BOE of 19 October 2026; the parties waived administrative appeal.

Fined for a very serious infringement: ceasing a qualifying holding in a payment institution without the required prior notification to the Banco de España. Resolution dated 17 June 2026; published on the Bank's sanctions page on 19 August 2026.

Public reprimand imposed by the CNMV Board on 27 May 2026 for a serious infringement: failing to meet commitments to correct supervisory deficiencies in oversight of agents' activity and the review of their remuneration policy. Published in BOE No. 186 of 31 July 2026 (notice dated 17 July 2026); the sanction is final in the administrative route and no fine is stated.

The CNMV Board fined the company for a serious infringement after it disseminated incorrect 2023 results through 'Otra Información Relevante'. Publication resolution dated 17 July 2026, BOE of 3 August 2026.

CNMV Board resolution of 30 April 2026, published in the BOE of 3 August 2026 (notice dated 17 July 2026). Fines of EUR 50,000, 30,000 and 35,000 (total EUR 115,000) for incomplete and untruthful 2023 accounts of the venture capital fund Impulse Technology Transfer CLM, FCR, for not meeting the authorised human-resources conditions for managing the fund, and for investing in assets outside the fund's prospectus or regulations. Its director Juan Lladó García-Lomas was fined EUR 40,000, 20,000 and 25,000. Both waived administrative appeal.

The firm did not check that the liquidation commissions of six SICAVs it managed were at least as good as market terms, and the general shareholders' meetings had not expressly authorised those fees before they were applied. Published in the BOE of 20 April 2026; final for all purposes after no appeal was lodged.

As a director of Demium Capital, SGEIC, SA he was fined for the firm's failure to keep conflict-of-interest measures after its October 2020 change of authorisation. CNMV Board resolution of 25 February 2026; the notice was published in the BOE of 31 July 2026 and also fines Santiago Reyna Herrero and Luis Manuel Martínez Fernández (EUR 25,000 each).

As a director of Demium Capital, SGEIC, SA he was fined for the firm's failure to keep conflict-of-interest measures after its October 2020 change of authorisation. CNMV Board resolution of 25 February 2026; the notice was published in the BOE of 31 July 2026 and also fines Santiago Reyna Herrero and Luis Manuel Martínez Fernández (EUR 25,000 each).

As chief executive of Demium Capital, SGEIC, SA he was fined for the firm's failure to keep conflict-of-interest measures after its October 2020 change of authorisation. CNMV Board resolution of 25 February 2026; published in the BOE of 31 July 2026.

As chairman of Demium Capital, SGEIC, SA he was fined for the firm's failure to keep conflict-of-interest measures after its October 2020 change of authorisation. CNMV Board resolution of 25 February 2026; the notice was published in the BOE of 31 July 2026 and also fines Luis Manuel Martínez Fernández (EUR 25,000) and two directors (EUR 15,000 each).

Fined for buying 104,166 Aspy shares on 20 January 2021 while holding inside information about Atrys Health's planned acquisition of Aspy Global Services, announced on 22 January 2021, and selling them on 27 January 2021 at a profit. Imposed by the CNMV Board on 25 February 2026 and published in the BOE of 11 May 2026; an appeal to the Audiencia Nacional was still pending according to a notice of 22 July 2026.

Fined for dealing on inside information: she bought 2,016 Biosearch, SA shares on 10 February 2021 after receiving inside information from Jesús de la Lama Obando about a possible tender offer for Biosearch, SA, made public on 15 February 2021. CNMV Board resolution of 28 January 2026, published in the BOE of 2 March 2026.

Fined for dealing on inside information: he bought 2,000 Biosearch, SA shares on 9 and 10 February 2021 after receiving inside information from Jesús de la Lama Obando about a possible tender offer for Biosearch, SA, made public on 15 February 2021. CNMV Board resolution of 28 January 2026, published in the BOE of 2 March 2026.

Fined for unlawfully disclosing to two others inside information about a possible tender offer for Biosearch, SA, made public on 15 February 2021. CNMV Board resolution of 28 January 2026, published in the BOE of 2 March 2026; the two recipients of the information, Francisco de Asís Escacena Campos and María Inmaculada Obando Santaella (EUR 15,000 each), are listed as separate rows.

Fined for continued market manipulation in the shares of Singular People, SA across 34 trading sessions between April and December 2023. CNMV Board resolution of 18 December 2025; published in the BOE of 26 January 2026.

Fined for trading in Euskaltel, SA shares on 12 March 2021 while in possession of inside information about the forthcoming tender offer. Part of the five-person notice published in the BOE of 21 March 2026.

Fined for trading in Euskaltel, SA shares for herself and her mother on the strength of inside information about the tender offer announced on 28 March 2021. Part of the five-person notice published in the BOE of 21 March 2026.

Fined for trading in Euskaltel, SA shares, including for his parents, while holding inside information about the tender offer announced on 28 March 2021. Sanctioned in the same notice as four others (BOE of 21 March 2026); he was separately fined EUR 90,000 in a Masmovil Ibercom insider case dated 24 September 2025.

Fined for unlawfully disclosing inside information on the tender offer for 100% of Euskaltel, SA announced on 28 March 2021. The CNMV Board resolution is dated 18 December 2025 and the notice was published in the BOE of 21 March 2026.

Fined EUR 250,000 for insider dealing (a very serious infringement, trades of 12 March 2021) and EUR 30,000 for recommending a third party to buy (serious), ahead of the announced tender offer for Euskaltel, SA by Kaixo Telecom, SAU. The total is EUR 280,000; the same notice sanctions five people in all and was published in the BOE of 21 March 2026.

The CNMV Board fined the company for a continued very serious breach of its duty to assist the CNMV: it did not check whether Quantum AI was authorised to provide investment services, or appeared on CNMV or foreign warning lists, for adverts named in a CNMV request of 8 November 2023. The company waived administrative appeal; the notice was published in the BOE of 13 November 2025.

Fined EUR 2,000,000 for serious breaches of remuneration policy rules (pension commitments not treated as variable remuneration); resolution dated 24 February 2025, published on 24 July 2026. The CEO was fined EUR 75,000 and two directors EUR 55,000 each. The Bank's page says the sanctions are under appeal and not final for judicial purposes.