Addition of new MSOEs into PEP file


We are excited to announce an addition of new MSOEs into our PEP file

On October 19, we will commence the delivery of around 30,000 new Member of State Owned Entities (MSOE) and Members of Sovereign Wealth Funds (MSWF) profiles into your existing PEP subscription. Driven by customer feedback and ever-increasing requirements surrounding onboarding of state-owned entities and Politically Exposed Persons (PEPs), Accuity is growing the coverage of MSOE data.

There will be no change required in your existing systems, but it is our expectation that you may experience spikes in MSOE hits, due to the large number of new data being introduced. We will be phasing data over five weeks commencing on October 19. After the last phased date, we will continue to introduce any further MSOE data collected by our researchers. You may expect the increase in spikes on the following dates:

  1. 19 October
  2. 26 October
  3. 02 November
  4. 09 November
  5. 16 November

Should you like any further details on this development, please do not hesitate to contact us.

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Defining an MSOE and MSWF

The Financial Action Task Force (FATF) sets standards for anti-money laundering and counter-terrorism finance (AML/CTF). FATF recognises financial risk in individuals who are, or were in the past, entrusted with prominent public functions within their governments. These individuals are called Politically Exposed Persons (PEPs).

FATF also labels some individuals as PEPs because they sit on the decision-making bodies that direct a State Owned Enterprise (SOE). Accuity defines these individuals as Members of State Owned Enterprises (MSOEs).

PEPs who sit on the decision-making bodies of a Sovereign Wealth Fund (SWF) are called Members of Sovereign Wealth Funds (MSWFs).

Member of State Owned Enterprise (Member of SOE) (currently Management Government Corp)

A Politically Exposed Person (PEP), or group that holds an executive decision-making role in the governing body of an SOE (a corporation owned in whole or in part by a sovereign government) such as the Board of Directors and C-level management; or an individual or group that hold senior management positions, such as a company or a senior executive of a company that conducts the day-to-day operations of an SOE.

This includes individuals who already hold senior government positions and serve in other capacities, as well as those who are private citizens hired or appointed by the state to serve in management or decision-making and advisory capacities.

Individuals may already be PEPs because they hold senior offices in government service, or they may be private citizens. Their service as senior executive member of an SOE governing body designates them as PEPs in accordance with FATF Recommendations.

Member of Sovereign Wealth Fund (new) MSWF

A Politically Exposed Person (PEP) or group that holds an executive decision-making role in the governing body of an SWF such as the Board of Directors and C-level management; or an individual or group that hold senior management positions, such as a company or a senior executive of a company that conducts the day-to-day operations of an SWF.

This includes individuals who already hold senior government positions and serve in other capacities, as well as those who are private citizens hired or appointed by the state to serve in management or decision-making and advisory capacities.

MSOE and MSWF Administrative Levels

An administrative level, sometimes called an administrative division, refers to how sovereign states and territories organise themselves politically. Administrative levels describe the government divisions affiliated with the MSOE.  MSOEs are profiled as a part of an SOE owned by government at a national or state administrative level only.

  • National is a country’s national or federal government.
  • State is one step below national government.

 

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