The term ‘politically exposed persons’ is broad and generally includes all persons who fulfil a prominent public function. A natural person who is or has been entrusted with a prominent public function shall include:
(a) Heads of State, Heads of Government, Ministers and Deputy and Assistant Ministers and Parliamentary Secretaries;
(b) Members of Parliament;
(c) Members of the Courts or of other high-level judicial bodies whose decisions are not subject to further appeal, except in exceptional circumstances;
(d) Members of courts of auditors, Audit Committees or of the boards of central banks;
(e) Ambassadors, charge d’affaires and other high-ranking officers in the armed forces;
(f) Members of the administration, management or boards of State-owned corporations;
and where applicable, for the purposes of (a) to (e), shall include positions held at the Community or international level.
With respect to the term ‘immediate family members’ of PEPs, the PMLFTR provide that the term shall include:
(a) the spouse, or any partner recognized by national law as equivalent to the spouse;
(b) the children and their spouses or partners; and
(c) the parents.
With respect to the term ‘persons known to be close associates’, the PMLFTR provide that the term shall include:
(a) a natural person known to have:
(1) joint beneficial ownership of a body corporate or any other form of legal arrangement;
(2) or any other close business relations with that PEP.
(b) a natural person who has sole beneficial ownership of a body corporate or any other form of legal arrangement that is known to have been established for the benefit of that PEP