Politically Exposed Person (PEP) Weekly Digest – Volume 134

134th PEP Weekly Digest:

Introducing the 134th 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 Dec 14, 2025 and Feb 01, 2026. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Romania Appoints Radu Miruță as New Defense Minister After Weeks of Uncertainty

One noteworthy event has occurred in Romania: Romania’s government has confirmed a key change at the top of its defense establishment, with Radu Miruță formally taking office as minister of national defense following a swearing-in ceremony at the Cotroceni Palace on December 23.

Miruță, a senior figure within the Save Romania Union (USR), moves to the defense portfolio after previously serving as minister of economy. His appointment comes after several weeks of uncertainty at the Ministry of Defense, where he had already been acting in an interim capacity following the resignation of his party colleague Ionuț Moșteanu in November.

Moșteanu stepped down amid a public controversy related to inaccuracies in his academic credentials, a case that quickly became a political liability for the governing coalition. His departure left the defense ministry without permanent leadership at a time when Romania remains deeply engaged in modernization efforts and regional security initiatives linked to NATO and the European Union.

Quebec Health Minister Christian Dubé Resigns After Doctor Pay Reform Is Weakened

Shifting our focus to Canada, with his signature legislation to modernize doctor compensation diluted, Christian Dubé announced he would resign as health minister and quit the Coalition Avenir Québec party altogether.

In a letter published on social media, Dubé said he is not the right person to continue negotiations with family doctors over changes to a controversial doctor-payment law that he had championed.

“Under the current circumstances, this is a difficult decision I am making for the good of patients, physicians, and the health-care system,” Dubé said.

Passed on Oct. 25, Bill 2 ties part of physicians’ remuneration to performance targets and threatens steep fines for those who use pressure tactics to boycott the changes. Doctors had argued it muzzled them and could drive physicians out of Quebec.

Maharashtra Sports Minister Manikrao Kokate Resigns After Court Upholds Housing Scam Conviction

In India, Maharashtra Sports Minister and NCP leader Manikrao Kokate resigned hours after a court upheld his conviction in a three-decade-old housing scam case, triggering political churn within the state’s ruling Mahayuti alliance and intensifying pressure on Deputy Chief Minister Ajit Pawar.

Kokate, who held the sports portfolio and was later left without charge following earlier controversies, stepped down after a Nashik sessions court confirmed a two-year prison sentence against him. The Maharashtra Sports Ministry is now under Ajit Pawar’s charge.

FINRA Fines Osaic Institutions $650,000 Over Anti-Money-Laundering Failures

In the realm of regulatory affairs, Osaic Institutions has been subject to a censure, a $650,000 fine, and a remediation undertaking after FINRA found the firm’s anti-money-laundering program fell short of Bank Secrecy Act requirements over several years.

In a letter of acceptance, waiver, and consent, dated December 19, Finra said the firm – previously known as Infinex Investments – failed to maintain an AML program reasonably designed to flag and report suspicious activity, particularly in relation to money movements and customers in higher-risk jurisdictions.

A FINRA member firm since 1994, Osaic Institutions is based in Meriden, Connecticut, and works with roughly 730 registered reps in about 950 branches serving retail investors, including clients in Argentina, Bolivia, and Mexico. It was renamed after Osaic, then named Advisor Group, acquired the bank broker-dealer in 2022.

Malaysia’s Former Prime Minister Najib Razak Sentenced to 15 Years and $3.3 Billion Penalty in 1MDB Corruption Case

Shifting our attention to Malaysia, imprisoned former Malaysian Prime Minister Najib Razak was sentenced to 15 years and a hefty 13.5 billion ringgit ($3.3 billion) in fines and assets after being convicted in his biggest corruption trial tied to the multibillion-dollar looting of the 1MDB state investment fund.

The nation’s High Court found Najib, 72, guilty on four counts of abuse of power and 21 charges of money laundering related to more than $700 million channeled into his personal bank accounts from the 1MDB fund.

Justice Collin Lawrence Sequerah sentenced Najib to 15 years in prison for each charge of abuse of power, and five years for each of the money laundering charges. The sentences are to run concurrently which means he will face another 15 years in prison. The new sentence will run after his current term for an earlier 1MDB case ends, the judge said.

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