Following the recent wave of arrests on money-laundering charges, Liechtenstein's Head of Government, Mario Frick and Minister of Justice Heinz Frommelt, held a press briefing last week at which they announced details of the Government's long-awaited package of reform measures.
There will be major revisions to the law covering the duty of care, changes to the penal code and the code of criminal procedure, and a complete reorganisation of procedures for giving international legal assistance. The laws are intended to come into force from the beginning of 2001.
The Financial Services Department is to be split into two, one part dealing with the capital markets and the other with financial services. Its staff is to be increased from five to eight members.
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