FIAU Notice: Publication of the EU List of Prominent Public Functions (PEPs)

14th November 2023 • Notice Board

In terms of Regulation 2(1) of the Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR), politically exposed persons (PEPs) are “natural persons who are or have been entrusted with prominent public functions in or outside Malta, other than middle ranking or more junior officials”. In addition to this, Article 20a (3) of the revised Fourth Anti-Money Laundering Directive requires the EU Commission to assemble a single list of all public functions of each Member State (indicating the exact functions) which, according to national laws, regulations and administrative provisions, qualify as prominent public functions.

On the 10th of November 2023, the above list of prominent public functions at national level, at level of international organisations and at level of EU institutions and bodies has been published on the EU Official Journal: EUR-Lex – 52023XC00724. The list can also be accessed from the FIAU’s website.

In so far as the EU Member States are concerned, a PEP is anyone holding one of the positions set out in the respective national lists. Anyone holding a position not within those lists does not qualify as a PEP and Enhanced Due Diligence measures would therefore be applicable only to the extent that the business relationship or occasional transaction presents a high risk of ML/FT. The EU list includes the most recent available version of the list of prominent public functions in Malta, which is the one published on the Government Gazzette on 6 April 2021, and which may be accessed via the FIAU website.