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:

  • Spouse
  • Registered partner
  • Common law spouse
  • Child and their spouse, registered partner or common law spouse
  • Parent

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.