Professional Ethics at Liechtenstein
In Liechtenstein, professional ethics are upheld through a combination of national legislation, sector-specific regulations, and oversight bodies. Here's an overview of the ethical frameworks governing key professions:
⚖️ Legal Profession Ethics
In Liechtenstein, the legal profession is governed by the Lawyers Act (RAG) and the Professional Guidelines of the Liechtenstein Chamber of Lawyers. Key ethical principles include: (Professional law :: Liechtensteinische Rechtsanwaltskammer)
Independence: Lawyers must practice independently, in their own name and on their own responsibility. (Job description :: Liechtensteinische Rechtsanwaltskammer)
Confidentiality: Lawyers are obligated to maintain confidentiality about matters entrusted to them, as well as other matters that have become known to them in their professional capacity. (Liechtenstein (Chapter 19) - Professional Secrecy of Lawyers in Europe)
Conflict of Interest: Lawyers must refuse representation or advice if a conflict of interest exists, such as representing both parties in the same matter. (Quality and security :: Liechtensteinische Rechtsanwaltskammer)
Supervision and Disciplinary Authority: Lawyers are subject to the supervision of the Bar Association and the disciplinary authority of the High Court. (Quality and security :: Liechtensteinische Rechtsanwaltskammer)
🏥 Medical Profession Ethics
Medical professionals in Liechtenstein adhere to the International Code of Medical Ethics established by the World Medical Association (WMA). Key ethical obligations include:
Patient Welfare: Prioritizing the health and well-being of patients.
Informed Consent: Ensuring patients are fully informed about their treatment options.
Confidentiality: Protecting patient privacy and confidentiality.
Professional Competence: Maintaining and improving professional knowledge and skills.
Accountability: Recognizing and addressing unethical or incompetent practices.
🧪 Fiduciary and Trust Services Ethics
Professionals in fiduciary and trust services in Liechtenstein are governed by the Liechtenstein Institute of Professional Trustees and Fiduciaries. Key ethical principles include: (Disciplinary Bodies | Liechtensteinische Treuhandkammer)
Integrity: Upholding honesty and integrity in all professional dealings.
Confidentiality: Maintaining the confidentiality of client information.
Conflict of Interest: Avoiding situations where personal interests conflict with professional duties.
Disciplinary Oversight: The Professional Ethics Committee and Investigator are responsible for receiving and addressing disciplinary complaints. (Disciplinary Bodies | Liechtensteinische Treuhandkammer)
🏛️ Banking and Financial Services Ethics
Financial institutions in Liechtenstein, such as the Liechtensteinische Landesbank (LLB), adhere to a Code of Conduct that emphasizes:
Compliance: Strict adherence to laws, regulations, and standards. (Code of Conduct | LLB)
Anti-Corruption: Commitment to combatting money laundering, terrorist financing, and corruption. (Code of Conduct | LLB)
Privacy Protection: Active protection of client privacy and data. (Code of Conduct | LLB)
Conflict of Interest: Avoidance of conflicts of interest and exploitation of insider information. (Code of Conduct | LLB)
Fair Competition: Engagement in fair competitive practices and respect for intellectual property. (Code of Conduct | LLB)
🌐 International Ethical Standards
Professionals in Liechtenstein are also guided by international ethical standards, including:
Declaration of Geneva: A modern version of the Hippocratic Oath, emphasizing respect for patient autonomy, confidentiality, and the commitment to share medical knowledge.
Declaration of Helsinki: Outlines ethical principles for medical research involving human subjects, prioritizing the well-being of research participants.
International Bar Association (IBA) Guidelines: Provides ethical standards for legal professionals globally, promoting justice and the rule of law.
These ethical frameworks collectively contribute to promoting integrity, accountability, and professionalism across various sectors in Liechtenstein.
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