Facts
The complainant, Ronny Pecik, was heard by the Federal Banking Commission (FBC) in the context of an administrative procedure due to possible violations of reporting obligations in trading with participation certificates of Sulzer AG. The complainant contested the jurisdiction of the FBC and requested that this issue be decided beforehand. However, the FBC decided that the final decision was imminent and dismissed the request. The complainant filed a complaint with the Federal Administrative Court, which dismissed the complaint. Subsequently, the complainant turned to the Federal Court.
The Swiss Financial Market Supervisory Authority (FINMA) took over the procedure from the FBC and decided that it was authorized to issue disclosure-related rulings against individuals and companies subject to stock exchange reporting obligations. FINMA concluded that the complainant and another person had violated their reporting obligations under Art. 20 SESTA.
Considerations
The Federal Court ruled that it would not consider the complaint, as the complainant no longer had a legitimate interest in the assessment of his submission. FINMA had already examined its jurisdiction and dealt with the complainant's arguments, making the complaint against the refusal of justice or denial of justice no longer relevant.
The court stated that the issue of jurisdiction should be examined in the context of challenging the substantive…