Politically Exposed Persons (PEPs) - Revision history

Nicguana at 17:16, 1 January 2021

2021-01-01T17:16:18Z

← Older revision		Revision as of 17:16, 1 January 2021
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	==What is a PEP?==		==What is a PEP?==

	A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes:		A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes, but is not limited to:

	* heads of state, heads of government, ministers and deputy or assistant ministers;		* heads of state, heads of government, ministers and deputy or assistant ministers;
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	* an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;		* an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;
	* an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.		* an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.
			* an individual having power to direct the activities of a customer

Nicguana at 14:09, 24 February 2020

2020-02-24T14:09:52Z

← Older revision		Revision as of 14:09, 24 February 2020
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	Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.		Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.


	==What is a PEP?==		==What is a PEP?==
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	A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes:		A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes:

	~~(a)~~ heads of state, heads of government, ministers and deputy or assistant ministers;		* heads of state, heads of government, ministers and deputy or assistant ministers;
			* members of parliament or of similar legislative bodies;
	~~(b)~~ members of parliament or of similar legislative bodies;		* members of the governing bodies of political parties;
			* members of supreme courts, of constitutional courts or of any judicial body the decisions of which are not subject to further appeal except in exceptional circumstances;
	~~(c)~~ members of the governing bodies of political parties;		* members of courts of auditors or of the boards of central banks;
			* ambassadors, chargé(e)s d’affaires and high-ranking officers in the armed forces;
	~~(d)~~ members of supreme courts, of constitutional courts or of any judicial body the decisions of which are not subject to further appeal except in exceptional circumstances;		* members of the administrative, management or supervisory bodies of State-owned enterprises;
			* directors, deputy directors and members of the board or equivalent function of an international organisation.
	~~(e)~~ members of courts of auditors or of the boards of central banks;

	~~(f)~~ ambassadors, chargé(e)s d’affaires and high-ranking officers in the armed forces;

	~~(g)~~ members of the administrative, management or supervisory bodies of State-owned enterprises;

	~~(h)~~ directors, deputy directors and members of the board or equivalent function of an international organisation.


	==What counts as a family member of a PEP?==		==What counts as a family member of a PEP?==

	A family member of a politically exposed person ~~includes—~~		A family member of a politically exposed person includes:

	~~(a) a spouse or civil partner of the PEP;~~

	~~(b) children of the PEP and the spouses or civil partners of the PEP’s children;~~

	~~(c) parents of the PEP;~~

			* a spouse or civil partner of the PEP;
			* children of the PEP and the spouses or civil partners of the PEP’s children;
			* parents of the PEP;

	==What counts as a close associate of a PEP?==		==What counts as a close associate of a PEP?==

	A known close associate of a PEP ~~means—~~		A known close associate of a PEP includes—

	~~(a) an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;~~

	~~(b)~~ an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.		* an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;
			* an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.

Nicguana at 14:07, 24 February 2020

2020-02-24T14:07:20Z

← Older revision		Revision as of 14:07, 24 February 2020
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	Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.		Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.


	==What is a PEP?==		==What is a PEP?==
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	(h) directors, deputy directors and members of the board or equivalent function of an international organisation.		(h) directors, deputy directors and members of the board or equivalent function of an international organisation.


			==What counts as a family member of a PEP?==

	A family member of a politically exposed person includes—		A family member of a politically exposed person includes—
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	(c) parents of the PEP;		(c) parents of the PEP;


			==What counts as a close associate of a PEP?==

	A known close associate of a PEP means—		A known close associate of a PEP means—

Nicguana at 14:06, 24 February 2020

2020-02-24T14:06:03Z

← Older revision		Revision as of 14:06, 24 February 2020
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	Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.		Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.

			==What is a PEP?==

	A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes:		A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes:

Nicguana at 14:04, 24 February 2020

2020-02-24T14:04:49Z

← Older revision		Revision as of 14:04, 24 February 2020
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	A family member of a politically exposed person includes—		A family member of a politically exposed person includes—

	(i) a spouse or civil partner of the PEP;		(a) a spouse or civil partner of the PEP;

	(ii) children of the PEP and the spouses or civil partners of the PEP’s children;		(b) children of the PEP and the spouses or civil partners of the PEP’s children;

	(~~iii~~) parents of the PEP;		(c) parents of the PEP;

	A known close associate of a PEP means—		A known close associate of a PEP means—

	(I) an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;		(a) an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;

	(ii) an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.		(b) an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.

Nicguana at 12:29, 24 February 2020

2020-02-24T12:29:32Z

← Older revision		Revision as of 12:29, 24 February 2020
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	A family member of a politically exposed person includes—		A family member of a politically exposed person includes—

	(I) a spouse or civil partner of the PEP;		(i) a spouse or civil partner of the PEP;

	(ii) children of the PEP and the spouses or civil partners of the PEP’s children;		(ii) children of the PEP and the spouses or civil partners of the PEP’s children;

Nicguana at 12:21, 24 February 2020

2020-02-24T12:21:38Z

← Older revision		Revision as of 12:21, 24 February 2020
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	(e) members of courts of auditors or of the boards of central banks;		(e) members of courts of auditors or of the boards of central banks;

	(f) ambassadors, ~~charges~~ d’affaires and high-ranking officers in the armed forces;		(f) ambassadors, chargé(e)s d’affaires and high-ranking officers in the armed forces;

	(g) members of the administrative, management or supervisory bodies of State-owned enterprises;		(g) members of the administrative, management or supervisory bodies of State-owned enterprises;

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2020-02-24T12:06:19Z

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Bittylicious requires its customers to disclose whether they are a Politically Exposed Person (PEP) or a family member or close associate of a PEP.

A PEP is an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official. This includes:

(a) heads of state, heads of government, ministers and deputy or assistant ministers;

(b) members of parliament or of similar legislative bodies;

(c) members of the governing bodies of political parties;

(d) members of supreme courts, of constitutional courts or of any judicial body the decisions of which are not subject to further appeal except in exceptional circumstances;

(e) members of courts of auditors or of the boards of central banks;

(f) ambassadors, charges d’affaires and high-ranking officers in the armed forces;

(g) members of the administrative, management or supervisory bodies of State-owned enterprises;

(h) directors, deputy directors and members of the board or equivalent function of an international organisation.

A family member of a politically exposed person includes—

(I) a spouse or civil partner of the PEP;

(ii) children of the PEP and the spouses or civil partners of the PEP’s children;

(iii) parents of the PEP;

A known close associate of a PEP means—

(I) an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP;

(ii) an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP.