Politically Exposed Person (PEP):
The term ‘PEP’ refers to a politically exposed person, i.e. a person who currently holds or who has at some point during the last 18 months held a prominent public function for a state or an international organisation. The bank also needs to know if you, a member of your family or a close associate is a PEP.
You are a PEP if you hold or have held over the last 18 months one of the following positions:
- Head of State or Government, Minister or Deputy Minister.
- Board member of a political party.
- Parliament representative (in Sweden this refers to the Swedish Parliament and the European Parliament) or a representative of similar legislative bodies.
- Judge of the Supreme Court, a constitutional court or other judicial bodies at a high level, the rulings of which may only be appealed in exceptional cases. In Sweden, this refers to the Supreme Court and the Supreme Administrative Court.
- Senior official for audit authorities or a member of the governing bodies of central banks (in Sweden this refers to Auditors General and members of the Executive Board of Riksbank, Sweden’s central bank).
- Ambassador, chargé d’affaires or a high-ranking officer in the armed forces (in Sweden this refers to a general, lieutenant general, major general, admiral, vice admiral and rear admiral).
- Member of the administrative, management or supervisory bodies of state-owned enterprises (e.g. CEO or board member).
- Member of the senior management of an international organisation (director, deputy director, board member or someone in a similar position).
We also need to know if a member of your family or a close associate is a PEP. In this context, a family member is a:
- Registered partner
- Common law spouse
- Child and their spouse, registered partner or common law spouse
You are considered to be a close associate of a PEP if you are a person who:
- Jointly with a PEP, owns or otherwise exercises a controlling influence over a company.
- Otherwise has or has had a close relationship with a PEP (this does not need to be a commercial relationship).
- Alone owns or otherwise exercises a controlling influence over a company which in reality has been formed for the benefit of a PEP.