Charles Walker – 2016 Parliamentary Question to the Department for Energy and Climate Change
The below Parliamentary question was asked by Charles Walker on 2016-03-17.
To ask the Secretary of State for Energy and Climate Change, what estimate her Department has made of the number of its senior civil servants who will potentially fall under the provisions of the fourth EU Money Laundering Directive, 2015/849; and what assessment she has made of which of her Department’s agencies or other public bodies will potentially be classed as holding a prominent public function for the purposes of that directive.
Andrea Leadsom
Under the Fourth Anti-Money Laundering Directive, which will be transposed into national law by June 2017, a politically exposed person is one who has been entrusted with a prominent public function domestically or by a foreign country. The Government’s view is that the Directive permits a risk-based approach to the identification of whether an individual is a politically exposed person and, when identified, the Directive enables the application of different degrees of enhanced measures to reflect the risks posed. We will be setting out this view in our consultation which will be published shortly.
This change should not prevent any individual in this category from gaining or maintaining access to financial services. We encourage financial institutions to take a proportionate risk-based approach when applying these measures.
