MLR changes address domestic PEPs

Changes to the MLRs will take effect from 10 January 2024, which meet the requirements of s77 FSMA 2023 and provide that the starting point for EDD assessments where a customer is a domestic PEP or is a family member or known close associate of such a PEP, should be that the customer presents a lower level of risk than a non-domestic PEP.  As a result, the EDD measures applied should be less, unless there are other enhanced risk factors.

Emma Radmore