Regulatory Alerts2016-08-14 | Resolución SBS 4349-2016Added · Updated
SBS Resolution N° 4349-2016: Norm on Functions and Positions Occupied by Politically Exposed Persons (PEP)
The Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) approved a norm defining politically exposed persons (PEP) and mandating reinforced due diligence for obligated subjects under its supervision. The resolution replaces previous PEP definitions in existing anti-money laundering norms and establishes a specific list of public and international positions qualifying as PEP status. This list includes heads of state, ministers, judges, military commanders, and directors of public entities, along with their direct collaborators. The resolution entered into force the day following its publication in the Official Gazette El Peruano.
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