EU GRECO LIC Compliance Report


On Mar. 11, EU GRECO issued 4th round interim compliance report.


  • EU GRECO issued Liechtenstein Interim Compliance Report of 4th Evaluation Round.
  • Covers corruption prevention in relation to members of parliament, judges, prosecutor.
  • The report was adopted by EU GRECO at its 95th plenary meeting of Nov-Dec 2023.
  • Context
  • Interim Compliance Report assesses measures taken by authorities of Liechtenstein to implement recommendations issued in 4th Round Evaluation Report on Liechtenstein.
  • As adopted in Sep. 2020 and made public in Dec. 2020, post authorization by country.
  • EU GRECO’s 4th Evaluation Round deals with Corruption prevention in respect of members of parliament, judges and prosecutors; new report issued in EN, FR, DE.
  • Recalls in Compliance Report, adopted in Jun. 2022, EU GRECO concluded that very low level of compliance with recommendations was globally unsatisfactory.
  • That, within meaning of Rule 31 revised, paragraph 8.3 of its Rules of Procedure.
  • Thus decided to apply Rule 32 concerning members found not to be in compliance with recommendations contained in Evaluation Report and asked LIC Head of delegation to submit a report on the progress in implementing the outstanding recommendations.
  • Situation Report on measures taken to implement recommendations thus submitted.
  • Together with data supplied later on, served as basis for Interim Compliance Report.
  • EU GRECO selected Finland (for parliamentary assemblies) and Austria (for judicial institutions) to appoint rapporteurs for the compliance procedure.
  • They were assisted by secretariat in drawing up compliance report; Interim Compliance Report assessed the state of implementation of 15 outstanding recommendations (i to ix and xi to xvi) since adoption of the Compliance Report.
  • Provides overall assessment of LIC’s level of compliance with these recommendations.
  • Conclusion and Further Action
  • EU GRECO addressed 16 recommendations to Liechtenstein in its Evaluation Report.
  • Concluded Liechtenstein implemented or dealt with in satisfactory manner 6 out of 16.
  • Of the other, 8 have been partly implemented and 2 have not been implemented.
  • Recommendation x was implemented satisfactorily while ix and xi to xiii, xv and xvi were partly implemented and i to viii and xiv not implemented.
  • Compliance with the outstanding ones is dealt with in specific sections of the report.
  • Per para 8.2 of Art 31 of Rules of Procedure, asked head of Liechtenstein delegation to provide report on measures taken to implement the outstanding recommendations.
  • I.e. recommendations i, ii, v to ix, xii, xiv, xvi and that, by Dec. 31, 2024 at the latest.
  • Invited LIC to authorize publication of the report, to translate it and make it public.
  • Effectiveness
  • New progress report expected by Dec. 31, 2024, at the latest.

Regulators EU GRECO
Entity Types Corp
Reference Rp Trsl, PR, 3/11/2024; Rp Greco RC4(2023)16, 12/1/2023
Functions Anti-Bribery; Compliance; Exams; Legal; Operations; Risk
Countries European Union; Liechtenstein
Category
State
Products Corporate
Regions EMEA
Rule Type Final
Rule Date 3/11/2024
Effective Date 12/31/2024
Rule Id 204183
Linked to N/A
Reg. Last Update 3/11/2024
Report Section AML & Enforcement

Last substantive update on 03/13/2024