A person is considered a politically exposed person (PEP), as defined by Law No. 83/2017, dated August 18, if:
they have held or currently hold political or public positions in the last 12 months,
they are a close family member of a politically exposed person,
they are closely associated with a politically exposed person.
Which political or public positions are considered to identify a PEP?
Directors, deputy directors, and members of the board of directors or individuals with equivalent functions in an international organization.
A person is considered a PEP if, in the last 12 months, they have held in any country or jurisdiction one of the following prominent high-level public functions:
Heads of State, Heads of Government, and members of the Government, including ministers, secretaries, and undersecretaries of State or equivalents
Members of parliament or other members of parliamentary bodies
Members of high-level courts, including the Constitutional Court, the Supreme Court of Justice, the Supreme Administrative Court, the Court of Auditors, and members of supreme courts, constitutional courts, and other high-level judicial bodies from other states and international organizations
Representatives of the Republic and members of self-governing bodies of autonomous regions
Ombudsman, State Councilors, and members of entities such as the National Data Protection Commission, the Superior Council of the Judiciary, the Superior Council of Administrative and Tax Courts, the Attorney General's Office, the Superior Council of Public Prosecution, the Superior Council of National Defense, the Economic and Social Council, and the Regulatory Entity for Social Communication
Heads of diplomatic missions and consular posts
General Officers of the Armed Forces and the National Republican Guard (GNR) in active service, as well as Chief Superintendents of the Public Security Police (PSP)
Presidents and executive councillors of municipal chambers
Members of the management and supervisory bodies of central banks, including the European Central Bank
Members of the management and supervisory bodies of public institutes, public foundations, public establishments, and independent administrative entities, regardless of the method of appointment
Members of the management and supervisory bodies of entities belonging to the public business sector, including the business, regional, and local sectors
Members of the executive leadership of national or regional political parties
What does it mean to be a close family member of a politically exposed person?
It is considered a close family member if they are in one of the following situations:
A person who, in other legal systems, holds similar positions.
Spouse or partner of a politically exposed person
Relative up to the 2nd degree, in the direct or collateral line
Partner of the family members of the politically exposed person mentioned above, to the extent that they do not benefit from the affinity status
What does it mean to be a person closely associated with a politically exposed person?
A person is considered closely associated if they are in one of the following situations:
Known as a co-owner, along with a politically exposed person, of a legal entity or a center of collective interests without legal personality
Owner of share capital or voting rights of a legal entity or assets of a center of collective interests without legal personality, known to have a politically exposed person as the beneficial owner
Known to have business, commercial, or professional relationships with a politically exposed person.
If you need further clarification, please contact us via support@daskapital.eu.
