Thematic Review of managing the risk posed by Politically Exposed Persons
27th July 2023
The Commission has today issued its report on the thematic review of the effectiveness of firms’ monitoring of, and compliance with, requirements for managing the risks posed by Politically Exposed Persons (“PEPs”). We undertook onsite inspections to 30 firms across the sectors with the largest exposure to PEPs. In all of the 170 PEP files which were reviewed, the relationships had an appropriate...