Section 35(12)

In this regulation— “politically exposed person” or “PEP” means an individual who is entrusted with prominent public functions, other than as a middle-ranking or more junior official; “family member” of a politically exposed person includes— a spouse or civil partner of the PEP; children of the PEP and the spouses or civil partners of the PEP's children; parents of the PEP; “known close associate” of a PEP means— an individual known to have joint beneficial ownership of a legal entity or a legal arrangement or any other close business relations with a PEP; an individual who has sole beneficial ownership of a legal entity or a legal arrangement which is known to have been set up for the benefit of a PEP; “domestic PEP” means a politically exposed person entrusted with prominent public functions by the United Kingdom; “non-domestic PEP” means a politically exposed person who is not a domestic PEP; “enhanced risk factors”, in relation to a customer or potential customer who is a domestic PEP or a family member or a known close associate of that domestic PEP, mean risk factors other than the customer’s or potential customer’s position as a domestic PEP or as a family member or a known close associate of that domestic PEP.

← 11 · All articles · 13 →

Source: legislation.gov.uk · retrieved 2026-09-04