March 4, 2013 / 4:57 PM / 5 years ago

Bank of Spain starts proceedings over Santander's Saenz's pardon

MADRID, March 4 (Reuters) - The Bank of Spain said on Monday it had started proceedings to decide whether the Chief Executive of Banco Santander, Alfredo Saenz, will be barred from banking.

Spain’s Supreme Court last month partially annulled a 2011 pardon of a conviction held by Saenz, reviving a long-running case and creating a headache for the central bank, which now has to decide his fate as CEO of the euro zone’s biggest bank.

Although Spanish rules on banking ethics would in most cases bar a person with a criminal record, the Bank of Spain said it could not prejudge the outcome of the proceedings.

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