Recital 92

(92) Members of the administrative, management or supervisory bodies of enterprises controlled by the state or by regional or local authorities can also be exposed to risks of corruption and associated money laundering. Given the size of the budget of such enterprises and the funds under management, such risks are particularly acute in relation to senior executive members in enterprises controlled by the state. Risks can also arise in relation to enterprises of a significant size controlled by regional and local authorities. As a result, the senior executives in enterprises controlled by regional or local authorities should be considered as politically exposed persons where those enterprises qualify as medium-sized or large undertakings or groups as defined in Article 3 of Directive 2013/34/EU of the European Parliament and of the Council (25). However, recognising the geographical and administrative organisational differences, and the powers and responsibilities associated with those enterprises and their senior executives, Member States should be able to choose to set a lower annual turnover threshold on the basis of risk. In such a case, Member States should notify the Commission of that decision.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.