The FCA has published a consultation on proposed guidance (GC17/02) on the treatment of politically exposed persons (PEPs) under the proposed draft Money Laundering Regulations 2017 (see daily news 16 March 2017).

The proposed guidance clarifies who should be considered a PEP and sets out the requirements on how firms can take a proportionate, risk based and differentiated approach to meeting their obligations under the Money Laundering Regulations 2017.

The deadline for comments is 18 April 2017.

Copies of the;

Guidance consultation:  http://bit.ly/2nMfNTm

Webpage:  http://bit.ly/2mzW7B7