Sanctions on supervised entities

According to Article 22 of the Financial Disciplinary System Regulation Act (hereinafter, LRRD), sanctions and reprimands for serious and very serious infringements that have been imposed on supervised entities and whose administrative procedure is ended must be published on the AFA website.

Sanction Date State

Penalty imposed on the bank Crèdit Andorrà, SA, amounting to €240.000 (after a reduction of a 40% on the penalty of €400.000 proposed by the AFA in accordance with Article 8.3 of the LRRD) as foreseen in Article 18, paragraph 1, of the LRRD for the commission of a very serious infringement of Article 15 d) of the same rule, for failure to comply with the maximum risk concentration limits set out in Articles 12, 13 and 14 of the Financial Institutions Solvency and Liquidity Act (standard in force at the time of the commission of the acts).

04-04-2019 Ferma