• Politically Exposed Person (PEP)

    Token Issuers may be obliged to undertake Enhanced Customer Due Diligence (ECDD) on those investors who are classified as a Politically Exposed Person (PEP).

     

    Please read the definition below carefully, then select the relevant response confirming that you are/are not a PEP.

     

    It is your obligation to inform us of a change to your status as a PEP or Non-PEP should it change at any time in the future.

     

    A PEP is defined as a person who holds, or has held at any time in the last year

    1. a prominent public function including
      1. A head of state, head of Government, Government minister, deputy, or assistant Government minister;
      2. A member of parliament;
      3. A member of a supreme court, constitutional court, or other high level judicial body whose decisions, other than in exceptional circumstances, are not subject to further appeal;
      4. A member of a court of auditors or the board of a central bank;
      5. An ambassador, chargé d’affairs, or high-ranking officer in the armed forces.
    2. or is a member of the administrative, management, or supervisory body of a state-owned enterprise

    PEP Close Associates & Family

    The definition extends the requirement to apply ECDD to an immediate family member, or a close associate, of a PEP.

     

    A “close associate” is defined to include any of the following persons:

    1. Any individual who has joint beneficial ownership of a legal entity, or a legal arrangement, or close business relationship, with a PEP;
    2. Any individual who has sole beneficial ownership of a legal entity, or legal arrangement set up for the actual benefit of a PEP.
    An “immediate family member” of a PEP includes any of the following persons:
    1. Any spouse of the PEP;
    2. Any person who is considered to be the equivalent to a spouse of the PEP;
    3. Any cohabitant of the PEP;
    4. Any child of the PEP;
    5. Any spouse of the child of a PEP;
    6. Any person who is considered to be the equivalent to a spouse of a child of the PEP;
    7. Any cohabitant of a child of the PEP;
    8. Any parent of the PEP;
    9. Any other family member of the PEP who is of a prescribed class.
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