Politically Exposed Person (PEP) Weekly Digest – Volume 179

179th PEP Weekly Digest:

Introducing the 179th 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 27, 2026, and Dec 05, 2026. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Princess Kasune Assumes Office as Zambia’s New Minister of Tourism

One noteworthy event has occurred in Zambia, Princess Kasune has assumed office as the new Minister of Tourism for Zambia, following her recent appointment by the country’s President Hakainde Hichilema.

She takes over from Rodney Sikumba. Kasune was among 24 Cabinet ministers sworn in at State House in Lusaka last month, alongside 10 provincial ministers.

A member of Parliament for Keembe West, Kasune made her entrance into the Parliament in 2016.

She went on to become the first woman to serve as Deputy Government Chief Whip and the first female Provincial Minister for Central Province and later became Zambia’s first female Minister of Justice.

Kasune’s academic qualifications include master’s degrees in Business Administration, with a focus on non-profit administration, and in Divinity. Her public service also included community development work through Fountain of Life (FOLA).

Spain’s Transport Minister Oscar Puente Resigns Following Deadly Train Crashes

Shifting our focus to Spain, Spanish Transport Minister Oscar Puente has resigned less than a week after one of the deadliest train crashes in the country’s history. He has also withdrawn from the upcoming general election.

Puente said that he had decided to resign immediately after last week’s crash but remained in office while the government coordinated its initial response. The collision, the second major train crash in Spain in less than a year, killed 69 people in central Spain’s Castilla-La Mancha region.

“A transport minister in a country like Spain cannot continue in office with two accidents of this severity in less than a year,” Puente said, referring also to a high-speed train derailment in January in Andalusia that killed 46 people.

Edvards Smiltēns Re-elected as Speaker of Latvia’s 15th Saeima

In Latvia, Politician Edvards Smiltēns (United List) was elected as the Speaker of the 15th Saeima on November 3rd, marking a return to the position he lost just over three years ago.

In a contest against Julija Stepaņenko (Sovereign Power/New Latvians Union) 79 of the Saeima’s 100 members voted for Smiltēns, while 15 backed Stepaņenko, representing the 15 elected members from her own party.

Smiltēns was supported by deputies from various parties, though six deputies got their careers in the 15th Saeima off to a less than glorious start by filling in their ballots incorrectly. Perhaps surprisingly, the dodgy half dozen included several extremely experienced politicians such as former Prime Minister Māris Kučinskis (United List), Latvia First party leader Ainars Šlesers, and former Ministers Inese Lībiņa-Egnere (New Unity), Nauris Puntulis (National alliance) and Līga Meņģelsone (United List).

FINRA Fines Webull Financial $4.2 Million for AML and Compliance Failures

In the realm of regulatory affairs, FINRA has fined Webull Financial LLC $4.2 million for failing to implement reasonably designed programs for anti-money laundering (AML), identity theft prevention and best execution. FINRA also ordered Webull to certify remediation of the deficiencies in its AML and identity theft prevention programs and retain an independent consultant to address its best execution program.

Webull experienced rapid and significant growth between January 2020 and September 2023, opening millions of new customer accounts each year. From at least February 2020, the firm executed billions of shares and received payment for order flow.

Turkey Jails Former Minister Fatma Betül Sayan Kaya in Stock Market Crisis Investigation

Shifting our attention to Turkey, a Turkish court jailed a former minister and senior member of the ruling AK Party early in an investigation ​into the country’s fund crisis, the state-run Anadolu Agency and other domestic sources said.

Fatma Betul Sayan Kaya, who quit the party after stepping down in September from her role as deputy chairperson, was accused by an opposition politician of making a ​large profit on shares just before the crisis triggered a ​major stock market selloff.

An Istanbul court arrested Kaya, who was ⁠minister of family and social services from 2016 to 2018, on charges ​of “violating the law on capital markets” and “membership of an organisation established for ​the purpose of committing a crime”, Anadolu said.

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