Who is a Politically Exposed Person?

A Politically Exposed Person ("PEP") is a person who is or has been entrusted with prominent public functions. Their family members or persons known to be close associates are also included in this category.

Persons who are or have been entrusted with prominent public functions include among others:

- heads of State, heads of government, ministers and deputy or assistant ministers;
- members of parliament or of similar legislative bodies;
- members of supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances;
- members of courts of auditors or of the boards or directorates of central banks;
- ambassadors, chargés d’affaires and high-ranking officers in the armed forces;
- members of the administrative, management or supervisory bodies of State-owned enterprises;
- important officials and members of the governing bodies of political parties;
- directors, deputy directors and members of the board or equivalent function of an international organisation.

Family members of PEPs are:

- spouse;
- any partner considered by national law as equivalent to the spouse;
- children and their spouses, or partners considered by national law as equivalent to a spouse;
- parents;
- brothers and sisters.

Persons known to be close associates include among others:

- any person who has joint beneficial ownership of a legal entity or any other close business relations with a PEP;
- any person who has sole beneficial ownership of a legal entity which has been set up for the benefit, in practice, of a PEP.

PEP users may be asked for additional documentation to begin using our services.