Politically Exposed Foreign Person or PEFP (Canada)
Canadian anti-money laundering legislation requires financial institutions to determine if clients are Politically Exposed Foreign Persons (PEFPs). This Canadian term shows a large degree of overlap with the politically exposed person (PEP) definition used in most other countries in the world, and is also comparable to the "senior foreign political figure" as outlined in the USA PATRIOT Act.
The Canadian PEFP definition is:
"Politically exposed foreign person - means a person who holds or has ever held one of the following offices or positions in or on behalf of a foreign state:
(a) head of state or head of government;
(b) member of the executive council of government or member of a legislature;
(c) deputy minister or equivalent rank;
(d) ambassador or attaché or counsellor of an ambassador;
(e) military officer with a rank of general or above;
(f) president of a state-owned company or a state-owned bank;
(g) head of a government agency;
(h) judge;
(i) leader or president of a political party represented in a legislature; or
(j) holder of any prescribed office or position."
The definition includes any prescribed family member of such a person.
Read more about this topic: Politically Exposed Person
Famous quotes containing the words politically, exposed, foreign and/or person:
“All you can be sure about in a political-minded writer is that if his work should last you will have to skip the politics when you read it. Many of the so-called politically enlisted writers change their politics frequently.... Perhaps it can be respected as a form of the pursuit of happiness.”
—Ernest Hemingway (1899–1961)
“I would rather be exposed to the inconveniences attending too much liberty than those attending too small a degree of it.”
—Thomas Jefferson (1743–1826)
“The American who has been confined, in his own country, to the sight of buildings designed after foreign models, is surprised on entering York Minster or St. Peter’s at Rome, by the feeling that these structures are imitations also,—faint copies of an invisible archetype.”
—Ralph Waldo Emerson (1803–1882)
“Now, a corpse, poor thing, is an untouchable and the process of decay is, of all pieces of bad manners, the vulgarest imaginable. For a corpse is, by definition, a person absolutely devoid of savoir vivre.”
—Aldous Huxley (1894–1963)