The office of the Special Prosecutor, which was established to investigate the Icelandic banking collapse in 2008, will be shut down at the end of this year, according to legislation passed by Alþingi, the Icelandic parliament, on Tuesday.
The legislation includes extensive changes to the prosecution. The projects of the Special Prosecutor will be moved to the new office of the District Prosecutor. The office was supposed to be established as early as 2008 but plans had to be postponed, mainly due to lack of funds, ruv.is reports.
As of the beginning of next year, the prosecution will be on two levels: the State Prosecutor will remain the highest authority, while the District Prosecutor will serve as a lower-level prosecution and police authority.
The new office will be responsible for the investigation and prosecution of economic crimes, for which the office of the Special Prosecutor is currently responsible, and excess cases from the Director of Tax Investigations and the Financial Intelligence Unit.