The Bank of Spain has published sanctions imposed for very serious infringements against the appraisal company Arco Valoraciones, SA, and its management and executive officers (Art. 115.5 Law 10/2014). The sanctions stem from deficiencies in administrative, technical, or internal control organisation that prevented ensuring compliance with valuation standards, professional independence, or real estate market knowledge (Art. 58.3 RDL 24/2021). The applied fines include a 40% discount for opting for reductions under Law 39/2015.
For the entity Arco Valoraciones, SA, the sanction amounts to EUR 96,000 (Art. 97.1.a)2. Law 10/2014). For the sanctioned executives, individual fines range between EUR 4,800 and EUR 12,000 (Art. 100.1.a Law 10/2014). This resolution highlights the risk of personal liability for directors in the event of internal control deficiencies within appraisal companies.
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