Regulatory AlertsDOC-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
Download Viewed Version 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.
Download the doctrine 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 Archives
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 Legal notices: 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