New limits for use of supervisory information in criminal proceedings

by Philipp Candreia, Sandro Abegglen, Martin Schaub

Federal Supreme Court declares mandatory FINMA disclosures inadmissible  

The Swiss Federal Supreme Court has reshaped the legal landscape for financial institutions and their employees facing criminal prosecution with its judgment 7B_45/2022 of 21 July 2025: Information provided to FINMA or other authorities under a duty to cooperate is now inadmissible in criminal proceedings unless the party was informed of their right to remain silent.  

Key takeaways: 

• New rule: Information obtained by FINMA under a duty to cooperate without mentioning the right to remain silent is inadmissible in criminal proceedings. A threat of criminal sanction for non-compliance is no longer needed.
• Supervisory authorities covered: Beyond FINMA, the new rule must apply to any authority or entity discharging public functions with which supervised parties are obliged to cooperate, within and outside the financial sector.
• Only new statements protected: The rule applies to new responses, not to the production of existing documents known to the authority. 
• Company vs. individual: Individuals may benefit from the protection even if the information was provided by their company.