Politically Exposed Person (PEP)
We are required to check whether you, or anyone connected with you, might be a “politically exposed person” (known as a “PEP”). If you, a member of your family, or a close associate, currently holds, or has held, in the last 12 months, a prominent public function, in any country, then we are required to ensure that we identity you as a PEP, and as a result, are required by law to to take additional anti-money laundering precautions.
Please read through the details below carefully, and if you consider that you, a member of your family, or a close associate may qualify as a PEP, then please let us know before returning your signed Client Care Pack paperwork.
WHAT IS CONSIDERED “A PROMINENT PUBLIC FUNCTION”?
The following as a list of what is considered a prominent public function. If you currently hold, or have held in the last 12 months, in any country, one of the following roles when you will qualify as a PEP and will need to let us know please
- member of parliament
- member of the governing body of a political party
- appeal court judge
- member of the court of auditors or the board of a central bank
- diplomat or high-ranking officer in the armed forces
- member of the administrative, management or supervisory body of a State-owned enterprise
- senior officer or director of an international organisation
- head of state, head of government, minister or deputy or assistant minister.
Does A MEMBER OF YOUR FAMILY hold such a function?
- your spouse or civil partner
- your parents, or the parents of your spouse or civil partner
- your children
If so, please let us know.
Does A CLOSE ASSOCIATE OF YOURS hold such a function?
- someone with whom you have close business relations
- someone with whom you have joint beneficial ownership of a legal entity or a legal arrangement (like a company or trust)
- someone for whose benefit a legal entity or a legal arrangement has been set up, in respect of which you have sole ownership
If so, please let us know.
Please do not hesitate to contact your lawyer if you have any questions or queries regarding your potential PEP status.