---
title: FCA Updates PEPs Guidance
description: The Financial Conduct Authority (FCA) released updated guidance on the treatment of Politically Exposed Persons (PEPs).
---

[News & insights ](https://www.plenitudeconsulting.com/news-insights)

# [FCA Updates PEPs Guidance](https://www.plenitudeconsulting.com/news-insights/fca-updates-peps-guidance)

 Written by [Insight & Partnership Team](https://www.plenitudeconsulting.com/news-insights/author/insight-partnership-team) | Jul 11, 2025 3:42:43 PM

 

 

The update follows consultation from July to October 2024 on the proposed changes.

Key updates to the guidance include:

➡️ Definition: Greater clarification on who should and should not be considered a PEP, for example explicitly stating that non-executive board members should not be treated as PEPs;

➡️ Sign-offs: Improved flexibility on which members of senior management can sign-off PEP relationships using a risk-based approach;

➡️ Regulatory alignment: Changes reflecting updates to the Money Laundering Regulations in 2024, including the treatment of domestic PEPs as lower risk in the absence of high-risk indicators; and

➡️ Beneficial ownership: Clarifying that legal entities should not be treated as PEPs unless firms are satisfied that a PEP is exercising significant control.

✅ Firms should review their control frameworks in line with the new regulatory guidance, ensuring that PEP risks are promptly identified and reviewed via appropriate channels.

💡 Plenitude RegSight and its subscription newsletter keep you informed of the evolving regulatory landscape in the UK and its impacts for firms. Visit our website for more information: [https://www.plenitudeconsulting.com/what-we-do/plenitude-regsight/](https://www.plenitudeconsulting.com/what-we-do/plenitude-regsight/)

 

[View full post](https://www.plenitudeconsulting.com/news-insights/fca-updates-peps-guidance)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Insight & Partnership Team"
  },
  "dateModified" : "2025-07-11T15:42:48.625Z",
  "datePublished" : "2025-07-11T15:42:43Z",
  "headline" : "FCA Updates PEPs Guidance",
  "image" : {
    "@type" : "ImageObject",
    "height" : 1414,
    "url" : "https://9417247.fs1.hubspotusercontent-na1.net/hubfs/9417247/PEP-3.jpg",
    "width" : 2121
  },
  "mainEntityOfPage" : "https://www.plenitudeconsulting.com/news-insights/fca-updates-peps-guidance",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60,
      "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png",
      "width" : 60
    },
    "name" : "News & insights"
  }
}
```