The Financial Conduct Authority (FCA) is undertaking a review into how financial services firms have applied the Politically Exposed Persons (PEPs) regime.
Through this review, it aims to establish whether changes to the guidance, issued in 2017, are required.
The PEPs regime means that firms are required by law to undertake extra checks on political figures, their families and known close associates.
This derives from the international standards issued by the...
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