top of page

Politically exposed person:

A politically exposed person (“PEP-person”) means a natural person who is or has been entrusted with a prominent public function.

A prominent public function includes the following:

a) heads of State, heads of government, ministers and deputy or assistant ministers;

b) members of parliament;

c) members of governing bodies of political parties;

d) members of the supreme courts, of constitutional courts or of other high-level judicial bodies, the decisions of which are not subject to further appeal, except in exceptional circumstances;

e) members of courts of auditors or of the highest decision-making body,equivalent to the National Audit office of Finland, that audits the State’s finances;

f) members of boards of central banks;

g) ambassadors or chargés d'affaires;

h) members of the high-ranking officers in the armed forces (at least a member the body of generals in the armed forces);

i) a member of the administrative, management or supervisory bodies of a wholly state-owned or state majority-owned enterprise;or

j) directors, deputy directors and members of the board of an international organisation. 

 

A family member of a politically exposed person includes the following:

a) the spouse, or a person who according to the national law of the country concerned is considered equivalent to a spouse, of a politically exposed person

b) the children and their spouses or partners referred to above of a politically exposed person; and

c) the parents of a politically exposed person.

Close associates’ means:

(a)
natural persons who are known to have joint beneficial ownership of legal entities or legal arrangements, or any other close business relations, with a politically exposed person;

(b)
natural persons who have sole beneficial ownership of a legal entity or legal arrangement which is known to have been set up for the de facto benefit of a politically exposed person.

 

© 2021 by Nikula Legal. Proudly created with Wix.com

bottom of page