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  1. #1
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    Default What Government Workers are Politically Exposed Persons

    Tennessee state.

    What laws, regulation or rules speak to which state and local government persons would be considered domestic PEP's as well as when it is or is not appropriate, or even lawful, for them to serve as Board Members for various private entity boards?

    I have found some relatively recent papers speaking to judicial members serving on say, bank boards etc. However, what I have found doesn't reference any codified statute, act or law. I have ingested parts of Title 30? USC (which speaks to foreign persons) and some FDIC papers, I'm not finding anything in TN's codes, acts, or even opinions that get this specific in seeming to have a shared nexus with "Check 21" PEP language.

    Thank you for any links, suggestions or assistance you can offer.

  2. #2
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    Default Re: What Government Workers are Politically Exposed Persons

    There's no standard definition of "politically exposed person", so you would have to look to whatever statutory or regulatory framework you have in mind, see if it includes a concept of the "politically exposed person" and, if so, check the associated legislation, regulation, and any associated records or case law to determine how that definition is applied.

  3. #3
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    Default Re: What Government Workers are Politically Exposed Persons

    Hypothetically, say a top level member of the judicial branch was seated as a board of directors member for a local county bank, in a county having no "national" or even "state-wide" banks, and in the same judicial district he presided over, does that sound right?

    How about a county executive's son, over the county the bank is 'headquartered' sitting on that same board?

    TN Code speaking to conflicts of interest appear vague in these instances which seem to be obvious and blatant conflicts where the PEP's in place are easily able to thwart any challenges to unlawful activities or enterprise, while just as easily profiteering.

    I'm not finding any "PEP" dialogue in TN's courts and very little in US courts.

  4. #4
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    Default Re: What Government Workers are Politically Exposed Persons

    Same answer.

  5. #5
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    Default Re: What Government Workers are Politically Exposed Persons

    I am only looking for any and all discussion on the subject from any and all that may have useful information to share.

    To respectfully respond to your two answers with the hopes of expanding the dialogue, I'll disagree with your assertion that there is no standard definition of a "politically exposed person".

    US Code 31 and FATF address them and in 2012 the concept was expanded to include Domestic PEP's.

    With regards to the simple nuts and bolts of an ordinary citizen obtaining a bank account in the USA, banks will determine if they are indeed a PEP and have the absolute right to refuse to accept them as patrons predicated on such determinations, per Check 21 language.

  6. #6
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    Default Re: What Government Workers are Politically Exposed Persons

    Since you know all the answers, you have no need of us here.

    Have a nice day.

  7. #7
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    Default Re: What Government Workers are Politically Exposed Persons

    Quote Quoting cbg
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    Since you know all the answers, you have no need of us here.

    Have a nice day.
    Are you the official forum spokesperson for the "us" collective?

  8. #8
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    Default Re: What Government Workers are Politically Exposed Persons

    Quote Quoting JustANobody
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    Are you the official forum spokesperson for the "us" collective?
    No, but cbg certainly is telling it like it is.

    You're looking for information that cannot be provided here. Good luck in your search.

  9. #9
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    Default Re: What Government Workers are Politically Exposed Persons

    Quote Quoting JustANobody
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    To respectfully respond to your two answers with the hopes of expanding the dialogue, I'll disagree with your assertion that there is no standard definition of a "politically exposed person".

    US Code 31 and FATF address them and in 2012 the concept was expanded to include Domestic PEP's.
    To say that there is a definition in one statute does not mean there is a universal or standard definition of the term. Mr. Knowitall is correct that there is no such universal or standard definition. The law tends to forbid only the most obvious conflict of interest situations, and those laws vary considerably. The federal, state, and local governments have varying degrees of rules for this sort of thing.

    If you think a particular situation that you see with regards to banks is improper but it not illegal, ask your state legislators to make it illegal.


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