The House of Commons Library has published a briefing paper on the Politically Exposed Persons (PEPs) Regime. The paper summarises the law on PEPs, and the obligations to apply enhanced customer due diligence measures and enhanced ongoing monitoring when a customer (or their beneficial owner) is identified as a PEP. The paper is a useful tool for FIs to review the current management of PEP relationships and the risk associated with PEPs.

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