Politically Exposed Person (PEP) Weekly Digest – Volume 163

163rd PEP Weekly Digest:

Introducing the 163rd 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 Jun 21, 2026, and Aug 30, 2026. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Ukraine Parliament Approves Serhii Koretskyi as Prime Minister

One noteworthy event has occurred in Ukraine: Parliament approved Serhii Koretskyi as the country’s new prime minister as part of a major government reshuffle. President Volodymyr Zelenskyy nominated Koretskyi, citing his record in the energy sector and arguing that he was best placed to help prepare Ukraine for another wartime winter. Koretskyi had been serving as CEO of Naftogaz, Ukraine’s national oil and gas company, since May 2025. The appointment came as hundreds of protesters gathered outside parliament to oppose President Zelenskyy’s dismissal of Defence Minister Mykhailo Fedorov after just six months in office. Critics warned that the move could disrupt military reforms while the war continues.

Andy Burnham Takes Office as UK Prime Minister Following Keir Starmer’s Resignation

Shifting our focus to the United Kingdom, Andy Burnham, newly elected leader of the Labour Party, has taken charge as the UK’s new Prime Minister. In his inaugural speech at 10 Downing Street, Burnham said he will make politics more about problem-solving and ensure his appointment is a “circuit breaker” moment for the country.

Addressing the public, Prime Minister Burnham urges people to build a national sense of unity and make Britain starts to believe again.

Burnham took formal charge as Britain’s new PM after King Charles III invited him to form a new government following the resignation of Keir Starmer.

Earlier, Starmer delivered his final address from 10 Downing Street as Britain’s Prime Minister before making his way to meet the King to formally tender his resignation, amid long growing internal pressure from his own party.

Venezuela Appoints Félix Plasencia to Lead New Foreign Relations and Trade Ministry

In Venezuela, Venezuela’s acting president, Delcy Rodríguez, has appointed diplomat Félix Plasencia to head a new Ministry of Foreign Relations and Trade, merging the diplomatic and foreign trade portfolios. Plasencia had until now served as Venezuela’s chief of mission in the United States, and replaces Yvan Gil, foreign minister since 2023, who moves to the Ministry of Science and Technology.

Rodríguez announced the changes through her official channels. “I have appointed the internationalist Félix Plasencia, who has extensive diplomatic experience and will be tasked with directing Venezuelan foreign policy, defending our sovereignty, strengthening cooperative relations and promoting peace diplomacy in the world,” she wrote. The merger of the two ministries leaves out of the cabinet Johan Álvarez, who had headed Foreign Trade.

UK HMRC Updates AML Guidance on Politically Exposed Persons

In the realm of regulatory affairs, the UK’s HM Revenue & Customs (HMRC) has updated its Anti-Money Laundering (AML) guidance on Politically Exposed Persons (PEPs) following amendments to the Money Laundering Regulations that came into force on 30 June 2026. The revised guidance provides greater clarity on the identification, risk assessment, and ongoing monitoring of PEPs, their family members, and known close associates. It reiterates that regulated businesses must implement appropriate risk management systems to identify PEPs and apply Enhanced Due Diligence (EDD) where required.

The guidance outlines the categories of individuals considered PEPs, including heads of state, ministers, members of parliament, senior judges, central bank officials, high-ranking military officers, senior executives of state-owned enterprises, and officials of international organisations. It also distinguishes between lower-risk and higher-risk PEPs, emphasizing that UK domestic PEPs should generally be treated as lower risk unless other factors indicate otherwise. HMRC further highlights country-specific and individual risk indicators that should inform a firm’s assessment and confirms that EDD should normally continue for at least 12 months after a PEP leaves public office. The update reinforces a proportionate, risk-based approach to AML compliance while strengthening expectations for customer due diligence, record-keeping, and ongoing monitoring by supervised businesses.

Nepal Court Sentences Former Home Minister Bal Krishna Khand to Two Years in Fake Bhutanese Refugee Scam

Shifting our attention to Nepal, the Kathmandu District Court has sentenced former Home Minister and Nepali Congress leader Bal Krishna Khand to two years in prison in the fake Bhutanese refugee scam.

In its final sentencing delivered, the court also imposed a fine of Rs 20,000 on Khand.

On July 7, the court had convicted Khand and former minister and CPN-UML leader Top Bahadur Rayamajhi of offenses against the state for their roles in the scheme to send Nepali citizens to the United States by falsely presenting them as Bhutanese refugees. The sentencing, however, had been deferred.

Former Home Secretary Tek Narayan Pandey and Keshav Prasad Dulal, former personal secretary to Nepali Congress leader Sujata Koirala, were also convicted of offenses against the state.

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