Politically Exposed Persons
Politically Exposed Persons (PEPs) are individuals who are or have been entrusted with prominent public functions. Amongst others, these include:
- • Heads of State, Heads of Government, Ministers, Deputy or Assistant Ministers, and Parliamentary Secretaries;
- • Members of Parliament or similar legislative bodies;
- • Members of the governing bodies of political parties;
- • Members of the superior, supreme, and constitutional courts or of other high level judicial bodies
whose decisions are not subject to further appeal, except in exceptional circumstances;
- • Members of courts of auditors, or of the boards of central banks;
- • Ambassadors, chargé d’affaires and other high-ranking officers in the armed forces;
- • Members of the administrative, management or supervisory boards of state-owned enterprises; and
- • Anyone exercising a function equivalent to any of those set out above within an institution of the European Union or any other international body.
Immediate Family Members
Immediate family members of PEPs include:
- • The spouse, or any person considered to be the equivalent to a spouse;
- • The children and their spouses, or persons considered to be the equivalent to a spouse; and
- • The parents.
Close Associates
Close associates of PEPs include persons:
- • Known to have joint beneficial ownership of a body corporate or any other form of legal arrangement with a PEP;
- • Known to have close business relations with a PEP; and
- • Who have sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of a PEP.
