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<p>The Financial Services and Markets Act 2023 committed the Financial Conduct Authority
to conduct, and publish the conclusions of, a review into how financial institutions
are following its guidance on politically exposed persons (PEPs) by the end of June
2024. As set out in the Written Statement on the treatment of PEPs published on 14
December 2023, given the strength of concern on this issue, the Government expects
that the FCA will prioritise this review over the coming months.</p>
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