The executive committee of the National Securities Market Commission (CNMV) has agreed to initiate a sanctioning administrative file for very serious infringement of Banco Popular for having provided the body with financial information with inaccurate or inaccurate data in its 2016 annual accounts.
The file, initiated by the CNMV at its meeting on October 11, 2018, extends to the executive directors of the Popular -among them, its president Ángel Ron- to the members of the bank's audit committee and its financial director at the time of the events, as reported by the supervisor in a statement.
In the same meeting, the executive committee of the CNMV, in accordance with article 272.2 of the Securities Market Law, agreed to suspend the processing of the file due to the fact that a criminal proceeding is pending due to identical or inseparable facts until a final ruling is issued. the judicial authority.
The file referred to in this press release is limited to the aspects of the 2016 annual accounts to which the communication of relevant information made by the entity on April 3, 2017, was referred.