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What is PEP?

What is PEP?

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PEP – Politically Exposed Person – means, excluding groups of middle and lower-level positions, persons holding significant public positions or performing significant public functions and persons who have ceased to hold a significant public position or significant public function within the last 12 months.

Who is PEP?

a) heads of state, heads of government, ministers, deputy ministers, secretaries of state,

b) members of parliament or similar legislative bodies,

c) members of governing bodies of political parties,

d) members of the supreme courts, constitutional courts and other high-level judicial bodies, whose decisions are not subject to appeal, except in extraordinary cases,

e) members of courts of auditors or central banks’ management boards,

f) ambassadors, chargés d’affaires and senior officers of the armed forces,

g) members of administrative, management or supervisory bodies of state-owned enterprises, companies with State Treasury shareholding in which more than half of the shares or stocks are owned by the State Treasury or other state legal persons,

h) directors, deputy directors and members of bodies of international organisations or persons performing equivalent functions in these organisations,

i) general directors in the chief offices and central state authorities, general directors in voivodeship offices,

j) other persons holding public positions or performing public functions in state authorities or central government administration bodies.

Who are the people known to be close associates of the Politically Exposed Person?

a) Natural persons who are the real beneficiaries of legal persons, organisational units without legal personality or trusts together with the person referred to in footnote 1 or maintaining other close relations with such a person with the conducted business activity, and natural persons who are the only real beneficiaries of legal persons, entities organisational entities without legal personality or
trusts known to have been created for the actual benefit of the person referred to in footnote 1.

b) Natural persons who are the sole real beneficiaries of legal persons, organisational units without legal personality or trusts, which are known to have been established in order to obtain actual benefits by a politically exposed person.

Who are the family members of a Politically Exposed Person?

a) a spouse or a person living in cohabitation with a person holding a politically exposed position,

b) a child of a politically exposed person and his/her spouse or cohabitant,

c) parents of a politically exposed person.