Politically Exposed Persons
(asked on 18th July 2024) - View Source
Question to the HM Treasury:
To ask His Majesty's Government when they expect new guidance on the treatment of politically exposed persons to be implemented.
This question was answered on 29th July 2024
The Financial Conduct Authority is currently consulting on changes to its guidance on the treatment of politically exposed persons (PEPs) for anti-money laundering purposes, following a review of the treatment of domestic PEPs by financial institutions. The consultation closes on 18 October 2024. The FCA expects that the revised guidance will be published and brought into effect in the first half of 2025.