Facts
This decision concerns a nullity appeal filed by [A.] against a judgment of the Cantonal Court of Zurich convicting him for the illegal exercise of the activity of a custodian bank without authorization, pursuant to Art. 49 para. 1 and 2 of the Federal Act on Investment Funds (IFA). The facts occurred between mid-1971 and mid-1972, during which period [A.] was a delegate of the board of directors and director of Bank X., which acted as a custodian bank without the required authorization.
The Federal Department of Finance and Customs imposed a fine on [A.] in 1976. He requested a court judgment, which found him guilty in 1977. The judgment was upheld on appeal by the Cantonal Court of Zurich in 1978. [A.] then filed a nullity appeal with the SCC, invoking the statute of limitations and the violation of the principle of legality.
Considerations
The SCC dismissed the appeal. Regarding the statute of limitations, it considered that even though the statute of limitations for criminal prosecution is a controversial issue (procedural or substantive law), Art. 337 SCC applies and prevents the retroactive application of new, more severe provisions on the statute of limitations. However, the statute of limitations had not been reached, as the new provisions of Art. 52 para. 3 IFA, in force at the time of the facts, provided for a 5-year statute of limitations, which had not yet been reached at the time of the judgment.
As for the alleged…