Politically Exposed Person (PEP) Weekly Digest – Volume 176

176th PEP Weekly Digest:

Introducing the 176th edition of The PEP Weekly Digest, where we present to you the most recent updates and news on the global political stage.

Recent and upcoming elections influence the worldwide political landscape in eight nations, slated between Oct 04, 2026, and Nov 03, 2026. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Somalia PM Appoints Abdulkadir Omar Moallim as Minister of Ports and Marine Transport

One noteworthy event has occurred in Somalia, Somali Prime Minister Hamza Abdi Barre has appointed Abdulkadir Omar Moallim as Minister of Ports and Marine Transport, the Office of the Prime Minister announced.

The appointment was made under Article 120, paragraphs two and three, of Somalia’s Constitution, taking into account the president’s recommendation and the new minister’s qualifications and experience.

Moallim replaces Abdulkadir Mohamed Nur ‘Jama’, who was elected Speaker of the House of the People on 10 August 2026, securing 142 votes against Moallim, who received 30 votes in the parliamentary leadership contest.
Jama, who had headed the ministry since March 2025, announced his resignation from the ministerial position following his election as speaker.

Iran’s Parliament Approves Mehrdad Akhlaqi Ketabchi as New Defence Minister

Shifting our focus to Iran, Iran’s parliament approved Mehrdad Akhlaqi Ketabchi as the country’s new defence minister, ending months of interim leadership as Tehran faces continued military tensions with the United States and Israel.

Akhlaqi replaces Majid Ebn al-Reza, who had served as acting defence minister following the death of Aziz Nasirzadeh in U.S.-Israeli strikes in February.

The appointment places an experienced defence industry official in charge of Iran’s military production, procurement and technological development at a critical point in the regional conflict.

Akhlaqi has spent decades working in Iran’s defence industry, including senior positions overseeing aerospace and missile-related activities.

Japan’s Agriculture Minister Kazuo Yana Resigns Following Scandals

In Japan, Agriculture minister Kazuo Yana announced his resignation evening following a series of scandals, dealing a blow to Prime Minister Sanae Takaichi’s administration.

His sudden exit, just a month after Takaichi appointed him in a Cabinet reshuffle, leaves the prime minister without a key Cabinet ally. It also comes in the midst of parliamentary debate on key legislative items involving the ministry, including a controversial bill to reduce the food consumption tax from 8% to 1% next April for two years that the government is pushing for but that major opposition parties oppose.

“I submitted my resignation because I can’t continue to create more trouble with parliamentary deliberations. I also felt that I needed to avoid a situation where I’d no longer be able to concentrate on (my ministerial duties) for agricultural, forestry and fisheries administration,” Yana said.

U.S. Treasury Imposes Over $1.21 Billion in Penalties Against Bank of America

In the realm of regulatory affairs, the U.S. Department of the Treasury announced enforcement actions imposing more than $1.21 billion in penalties against Bank of America (“the Bank”), the second-largest bank in the United States, for violations of anti-money laundering and sanctions laws. These actions include the third-largest penalty in Treasury history and the largest in the Office of the Comptroller of the Currency (OCC) history.

The Financial Crimes Enforcement Network (FinCEN) assessed a $1.2 billion penalty for the Bank’s failure to mitigate and report priority national security risks, including Chinese Money Laundering Networks and illicit finance along the southwest border.

The OCC assessed a $750 million civil money penalty for the Bank’s deficient and ineffective BSA/AML (anti-money laundering) compliance program.

The Office of Foreign Assets Control (OFAC) announced an $11.6 million settlement agreement with the Bank over apparent violations of numerous sanctions programs, including on Iran, Russia, narcotics, and global terrorism.

Former DUP Leader Jeffrey Donaldson Sentenced to Seven and a Half Years for Sexual Offences

Shifting our attention to the United Kingdom, Former DUP leader Jeffrey Donaldson will spend seven and a half years in prison after he was sentenced for for 18 sexual offences, including the rape of a child.

Donaldson (63) was convicted at Newry Crown Court in June of 18 sex offences relating to the abuse of two women when they were children, on dates from 1985 to 2008.

He had denied the offences but the jury convicted him of one count of rape, 13 counts of indecent assault and four counts of gross indecency.

Donaldson was sentenced to 11 years in prison on the rape charge and the other offences against his first victim, and a further four years for the offences committed against his second victim, to run consecutively – a total sentence of 15 years.

Donaldson qualifies for an automatic 50 per cent remission of his sentence, so he will spend seven and a half years in prison and the rest on licence.

Read about the product: Data Asset Builder

Empower your organization with ZIGRAM’s integrated RegTech solutions – Book a Demo