UK: POLITICALLY EXPOSED PERSONS (PEP) REGIME

On 16 February, the House of Commons Library published a briefing paper observing that FATF in December 2018 rated the UK as  “compliant” with its main recommendation on PEP, noting that “all criteria are met”.  However, it also notes that, in November 2021 a number of peers raised concerns that firms were still imposing disproportionate due diligence requirements on them and their families.

https://researchbriefings.files.parliament.uk/documents/CBP-7376/CBP-7376.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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