What is a pep?

In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold.

What is a PEP in the UK?

A politically exposed person (PEP) is defined in regulation 35(12) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) as an individual who is entrusted with prominent public functions, excluding middle-ranking or more junior officials.

What is a financial PEP?

Personal equity plans (PEPs) were an investment plan in the U.K. introduced in the 1980s that encouraged people to invest in British companies, providing incentives such as tax-free gains. The plans were replaced by Individual Savings Accounts (ISAs) in 1999, with the same goal of encouraging people to save.

What is an example of a PEP?

Examples of PEPs include heads of state, government ministers or equivalent politicians, senior government executives, high-ranking judges, high-ranking military officers, central bank governors, or board members or executives of an international organisation. This is not a complete list of PEPs.

What is a PEP in Australia?

[email protected] | 1300 021 037 | @AUSTRAC | austrac.gov.au. A Politically Exposed Persons (PEP) is someone who holds a prominent public position in a government or international organisation. Through their position, they may have power and influence, and access to and control over money and resources.

What is a Politically Exposed Person? What is needed to onboard a PEP? - AML Tutorial

What is a PEP in British slang?

Pep is liveliness and energy. [informal, old-fashioned] Many say that, given a choice, they would opt for a holiday to put the pep back in their lives. Synonyms: energy, life, spirit, zip [informal] More Synonyms of pep.

What is PEP short for slang?

Pep first appeared in 1912, as a shortened form of pepper, which once meant "moxie" or "gusto." Definitions of pep. noun. liveliness and energy.

What is a PEP also known as?

Post-exposure prophylaxis (PEP) refers to a short course (28 days) of HIV medicines that are taken after a possible exposure to prevent HIV infection. PEP must be started within 72 hours after a possible exposure to HIV. The sooner PEP is started after a possible HIV exposure, the better.

Do PEPs still exist?

PEPs have been replaced by stocks and shares ISAs. The last date on which a PEP could be opened was 5 April 1999.

What does a PEP stand for?

In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold.

Is a PEP a pension?

A PEPP is a personal pension product which can be funded by you and your employer. A PEPP is a portable pension meaning that it may be used to accumulate retirement benefits in any European Union (EU) Member State.

What is PEP money?

A personal equity plan (PEP) was a form of tax-privileged investment account in the United Kingdom, available between 1986 and 1999.

Is a PEP a red flag for money laundering?

A politically exposed person (PEP) is an individual who is or has been entrusted with a prominent function. Many PEPs hold positions that can be abused for the purpose of laundering illicit funds or other predicate offences such as corruption or bribery.

What is a PEP in hmrc?

A PEP is defined as someone holding a prominent public position who is entrusted with prominent public functions either in the UK or elsewhere in the world. The Regulations also require EDD to be applied to a PEP's close family members or known close associates.

What does PEP really stand for?

PEP (post-exposure prophylaxis)

You may be prescribed PEP if you are HIV negative or don't know your HIV status, and in the last 72 hours you may have been exposed to HIV: During sex, for example if a condom broke during sex with someone who could have HIV, Through the sharing of needles or drug preparation equipment.

What are the three stages of money laundering?

Do I pay tax on a PEP?

Stocks and shares investments which could be held in a PEP include unit trusts, open ended investment companies (OEICs), investment trusts, ordinary shares, preference shares and fixed interest corporate bonds. Income from PEP investments is tax free and you do not have to report it on your tax return.

What is the difference between a PEP and an ISA?

Unlike PEPs, ISAs allow you to put your money into Cash and Investments alike, rather than restricting options to just investments. ISAs are a tax-efficient wrapper into which you can put your money to gain returns either from interest or investment, which are not subject to capital gains tax or income tax.

When did PEP become ISA?

The PEP was replaced in 1999 by the ISA,² but its intention remained the same. At the outset, savers could place £7,000 each year into an ISA.

What is a PEP slang for?

uncountable noun. Pep is liveliness and energy. [informal, old-fashioned] Many say that, given a choice, they would opt for a vacation to put the pep back in their lives. Synonyms: energy, life, spirit, zip [informal] More Synonyms of pep.

What is a PEP nhs?

PEP is a treatment that can stop an HIV infection after the virus has entered a person's body. It must be taken within 72 hours of exposure. If you think you might need PEP have a look at the quick reference guide.

What is the difference between PEP and PEP?

PrEP and PEP are two ways to use anti-HIV medications as 'prophylaxis', in other words as prevention. They work in different ways. PrEP stands for pre-exposure prophylaxis. PEP stands for post-exposure prophylaxis.

What does downhearted and blue mean?

Definitions of downhearted. adjective. filled with melancholy and despondency. “feeling discouraged and downhearted” synonyms: blue, depressed, dispirited, down, down in the mouth, downcast, gloomy, grim, low, low-spirited.

What does "sans" mean in slang?

preposition. If someone or something is sans another thing, they lack the other thing. [informal] She would not be happy with people seeing her sans makeup.

What is the meaning of bored stiff?

idiom informal (also bored to death, bored to tears) Add to word list Add to word list. extremely unhappy because something is not interesting or because you have nothing to do: We sat there, bored stiff, while the history teacher droned on.