Resolution No. 29 of December 7, 2017 – Procedures for COAF-Regulated Persons Regarding Politically Exposed Persons

The resolution establishes that persons regulated by COAF must follow the procedures set out herein to monitor operations or proposals involving politically exposed persons (PEPs) and their families, close associates, or related legal entities, using specific government databases for domestic PEPs and open public and private sources for foreign and international PEPs. It requires prior authorization from the managing partner, due‑diligence on the origin of funds, and reinforced continuous monitoring, with PEP status persisting for up to five years after the person no longer meets the criteria. Failure to comply subjects the responsible entities and their administrators to the sanctions provided in art. 12 of Law No. 9,613, as applied by COAF. The resolution becomes effective ninety days after publication and repeals Resolution No. 16 of March 28, 2007.

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Resolution No. 29 of December 7, 2017 – Procedures for COAF‑Regulated Persons Regarding Politically Exposed Persons

Provides for the procedures to be observed by persons regulated by COAF, pursuant to § 1 of article 14 of Law No. 9,613, of March 3, 1998, regarding politically exposed persons. Published on: 08/12/2017 | Edition: 235 | Section: 1 | Page: 52. This Resolution entered into force ninety days after its publication, at which time Resolution No. 16, of March 28, 2007, was repealed.

Published on 02/03/2022 17:56 Modified 5 years ago

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Source: Conselho de Controle de Atividades Financeiras — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works