What you need to know about PEP, Politically Exposed Persons

Jan 24, 2023

Definition Politically Exposed Persons

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Politically Exposed Persons (Article 14. Spanish Law 10/2010, of 28 April, prevention of money laundering and terrorism financing)

Politically Exposed Persons will be considered those who perform or have performed prominent public such as:

Heads of State,
Heads of Government,
Ministers or other members of Government,
Secretaries of State or Undersecretaries,
Parliamentarians,
Supreme Court judges, Constitutional Court judges or other senior judicial officials whose decisions are not normally appealable, outside of exceptional circumstances, including the equivalent members of the Public Prosecution Service,
The members of courts of auditors or of boards of directors of central banks,
Ambassadors and chargés d’affaires,
Senior staff of the Armed Forces,
Members of the administrative, management or supervision bodies of government-owned enterprises,
Directors, deputy directors and members of the board of directors, or equivalent function, of an international organization,
Senior management positions of political parties with parliamentary representation.

In addition, the following will be considered as Politically Exposed Persons (only provided for positions of Politically Exposed Persons in Spain):

a) Persons, other than those listed in the previous section, who are considered senior officials in accordance with the provisions of article 1 of Law 3/2015, of March 30, regulating the exercise of senior positions in the General State Administration. *

b) Persons who perform or have performed important public functions in the Spanish regional (autonomous) governments, such as Presidents, Ministers, and Directors and other members of the Executive Councils, as well as persons who hold positions equivalent to those listed in letter a), and the regional deputies and senior management positions of political parties with regional representation.

c) At the Spanish local level, mayors, councilors and people who hold positions equivalent to those listed in letter a) of provincial capital municipalities, or Autonomous Community and Local Entities with more than 50,000 inhabitants, as well such as senior management positions of political parties with representation in said constituencies.

d) Senior management positions in Spanish trade union or business organizations.

e) People who perform important public functions in international organizations accredited in Spain, such as:

Presidency, vice-presidencies and general secretary;
positions on the executive committee or council or management bodies of a similar nature;
treasury or positions with similar functions;
presidencies of the regional business confederations.

The Commission for the Prevention of Money Laundering and Monetary Offenses will prepare and publish a list detailing what type of functions and positions determine the consideration of a person with Spanish public responsibility. *

None of the categories provided for in the preceding paragraphs will include public employees at intermediate or lower levels.None of the categories provided for in the preceding paragraphs will include public employees at intermediate or lower levels.

*In the event that you perform or have performed important public functions in Spain, below you will find the list detailing types of functions and positions determine the consideration of a person with Spanish public responsibility (development in Spanish of Law 3/2015, of March 30, regulating the exercise of senior positions in the General State Administration, and of the list of the Commission for the Prevention of Money Laundering and Monetary Offenses detailing what type of functions and positions determine the consideration of a person with Spanish public responsibility)

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