Facts
The appellant A. was a member of the executive staff of UBS AG. In the context of administrative proceedings against UBS AG in connection with the submission of interest rates, particularly for the London Interbank Offered Rate (LIBOR), the Swiss Financial Market Supervisory Authority FINMA (FINMA) on December 14, 2012 found a serious violation of Swiss financial market law by the bank. As a result, FINMA included A. in its data collection "Guarantee of Proper Business Conduct and Professional Practice", the so-called Watchlist.
A. requested FINMA to grant him access to the data stored about him and to delete this data. FINMA initially refused this, but later informed A. about the entry in the Watchlist and the information contained therein. A. then filed a complaint with the Federal Administrative Court, which was dismissed. A. appealed against this decision to the Federal Supreme Court in public law matters.
Considerations
The Federal Supreme Court upholds the appeal. It finds that the inclusion of the appellant in the Watchlist constitutes a serious interference with his right to informational self-determination under Article 13 paragraph 2 of the Federal Constitution and therefore requires a formal legal basis.
While Article 23 paragraph 1 of the Federal Act on the Swiss Financial Market Supervisory Authority (FINMAG) provides FINMA with the authority to process personal data, including personality profiles, according to the case law of the Federal Supreme Court, only substantiated information about the person in connection with reliable data on business activities is permissible in the Watchlist. However, the information about the appellant collected by FINMA in the present case does not meet these requirements, as it is…