Facts
The Swiss Financial Market Supervisory Authority (FINMASA) and [X.] have lodged a complaint against the judgment of the Federal Administrative Court of 14 December 2009. FINMASA requests the annulment of item 1 of the dispositif, insofar as it concerns the distribution of a collective investment scheme, as well as item 4 (party compensation). [X.] requests the annulment of the decision of the Federal Administrative Court of 14 December 2009, insofar as it did not succeed with his legal requests.
The Swiss Federal Banking Commission (SFBC) had found that Ambros Baumann and various of his individual companies had professionally accepted public deposits and thus violated the Federal Act of 8 November 1934 on Banks and Savings Banks (Banking Act, BankA). The SFBC opened bankruptcy proceedings over the estate of Ambros Baumann and his individual companies.
[X.] was active as a broker for the "Baumann" group and had close contacts with Ambros Baumann. He received an annual commission of 20 to 50 per thousand of the managed assets for his activities.
The Federal Administrative Court confirmed the ban imposed on [X.] , not to accept public deposits professionally in the future or to advertise for the acceptance of public deposits or any other activity reserved for banks in advertisements, prospectuses, circulars, electronic or other media.
Considerations
The Federal Court based its decision on the facts as established by the lower court. It considered the appointment of the investigating officer and the cost ruling in the contested decision as not objectionable.
The Federal Court found that [X.] is to be considered part of the "Baumann" group and that his activities for this group went beyond mere brokerage activities. It also found that [X.] violated the Banking Act by…