DOC-2019-17 Guidelines on the Concept of Politically Exposed Person

The French Financial Markets Authority (AMF) issued DOC-2019-17 to define the specific vigilance measures required for individuals exposed to heightened risks due to their political, judicial, or administrative functions or those of their close associates. These guidelines, updated to reflect the transposition of the 4th and 5th Anti-Money Laundering Directives, expand the scope of politically exposed persons to include political party leaders and national figures exercising such roles in France. The document mandates enhanced due diligence procedures for investment service providers and other regulated entities when dealing with these high-risk clients.

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III - Service Providers
III. 3 - Combating Money Laundering and Terrorist Financing
Doctrine
Anti-Money Laundering

Guidelines on the Concept of Politically Exposed Person

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Applicable from January 18, 2021 Position DOC-2019-17

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Summary
DOC-2019-17 outlines the specific vigilance measures provided for by regulation regarding persons exposed to particular risks due to the political, judicial, or administrative functions they or their entourage hold. These guidelines are up to date with the provisions that transposed the 4th and 5th Directives.

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Reference texts

Article L. 561-10 1° of the Monetary and Financial Code

Article R. 561-18 of the Monetary and Financial Code

Article R. 561-20-2 of the Monetary and Financial Code

Article 321-147 of the General Regulation

Article 320-20 of the General Regulation

Article 325-22 of the General Regulation

Article 325-62 of the General Regulation
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DOC-2019-17 outlines the specific vigilance measures provided for by regulation regarding persons exposed to particular risks due to the political, judicial, or administrative functions they or their entourage hold. These guidelines are up to date with the provisions that transposed the 4th Directive, which expanded the list of political, judicial, or administrative functions concerned to include leaders of political parties and extended the scope of obligations to persons exercising such functions in France (National PEPs).

Download the doctrine
Reference texts

Article L. 561-10 2° of the Monetary and Financial Code

Article R. 561-18 of the Monetary and Financial Code

Article 561-20-2 of the Monetary and Financial Code

Article 321-147 of the General Regulation

Article 320-20 of the General Regulation

Article 325-22 of the General Regulation

Article 325-62 of the General Regulation
Keywords

Investment Services

Investment Advice
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Publisher: The Director of the Communication Department of the AMF. Contact: Communication Department, Autorité des marchés financiers - 17, place de la Bourse - 75082 Paris Cedex 02

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DOC-2019-17 Guidelines on the Concept of Politically Exposed Person

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