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:
“There is something suspicious about music, gentlemen. I insist that she is, by her nature, equivocal. I shall not be going too far in saying at once that she is politically suspect.”
—Thomas Mann (1875–1955)
“So while it is true that children are exposed to more information and a greater variety of experiences than were children of the past, it does not follow that they automatically become more sophisticated. We always know much more than we understand, and with the torrent of information to which young people are exposed, the gap between knowing and understanding, between experience and learning, has become even greater than it was in the past.”
—David Elkind (20th century)
“Friends, both the imaginary ones you build for yourself out of phrases taken from a living writer, or real ones from college, and relatives, despite all the waste of ceremony and fakery and the fact that out of an hour of conversation you may have only five minutes in which the old entente reappears, are the only real means for foreign ideas to enter your brain.”
—Nicholson Baker (b. 1957)
“Hence it will not do for the Landlord to possess too fine a nature.... He must have no idiosyncracies, no particular bents or tendencies to this or that, but a general, uniform, and healthy development, such as his portly person indicates, offering himself equally on all sides to men.”
—Henry David Thoreau (1817–1862)