Definition of Foreign PEPs (Politically Exposed Persons)

Foreign PEPs (Politically Exposed Persons) refer to individuals who fall under any of the following categories:

"Individuals who hold prominent public positions in foreign governments or similar institutions” means individuals who serve in significant public roles in foreign governments, central banks, or similar institutions (including former holders of such positions). These include the following roles/positions:

• Prime Ministers, Ministers of State, Deputy Ministers, or equivalent positions
• President or Vice President of the House of Representatives or the House of Councillors, or equivalent positions
• Justices of the Supreme Court or equivalent positions
• Ambassador Extraordinary and Plenipotentiary, Envoy Extraordinary and Minister Plenipotentiary, Special Ambassador, Government Representative, or Plenipotentiary Delegate or equivalent positions
• Chief or Vice Chief of the Joint Staff, Chief or Vice Chief of Staff, Ground Self-Defense Force, Chief or Vice Chief of Staff, Maritime Self-Defense Force, or Chief or Vice Chief of Staff, Air Self-Defense Force, or equivalent positions
• Executives of central banks
• Executives of entities that require parliamentary approval for their budgets

Additionally, family members of individuals holding prominent public positions in foreign governments include the person’s parents, children, siblings, spouse, spouse’s parents, and spouse’s children. Individuals in a de facto marriage (common-law relationship) are also included.

Definition of PEPs

When referring simply to "PEPs," it means individuals who fall under any of the following categories.

A. Entrusted with a prominent public function, such as: 

• Head of State or of Government;
• Senior Politicians and Ministers;
• Senior Government, Judicial (whose decisions are not subject to further appeal) or Military Officials;
• Senior Executives of State Owned Corporations (with genuine economic or political importance);
• Important Political Party Officials;
• Members of Ruling Royal Families, with Government responsibilities;
• Members of Senior Management or Individuals who have been entrusted with equivalent functions in an International Organisation (i.e. directors, deputy directors and members of the board or equivalent functions).
• Senior Religious Officials

B. Entrusted with a leading function of an international organization:

• Informed about the organization as part of a type of leading function: president, director, deputy director, secretary general, member of the board, chairman of the board, vice chairman of the board or equivalent function.

C. Family member to person (PEP) stated in A or B above:

• Spouse
• Person considered to be equivalent to a spouse according to national law
• Child
• Child’s spouse or person considered to be equivalent to a spouse according to national law
• Parent
• Parent of a child’s spouse or person considered to be equivalent to a spouse according to national law
• Grandparents

A PEP can also be:

• Natural person known to be a close associate, with beneficial ownership of legal entities or arrangements jointly with PEP or assigned to set up such entities or arrangements for benefit of a PEP according to categories A and B above.
• Natural person who has sole beneficial ownership of a corporate entity or any other form of legal arrangement that is known to have been established for the benefit of that PEP.
• Other close relations with a PEP under categories A and B.
• Beneficial owner with a PEP in categories A and B, as well as the other related categories.