Politically Exposed Person (PEP) Weekly Digest – Volume 71

71st PEP Weekly Digest:

Introducing the 71st 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 06, 2024 and Oct 27, 2024. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Ethiopia Elects New President: Taye Atske-Selassie Takes Office

One noteworthy event has occurred in Ethiopia, Parliament elected Foreign Minister Taye Atske-Selassie as the country’s new president, a position that is largely ceremonial. Taye replaces the outgoing President Sahle-Work Zewde, who has been in office since 2018. The parliament elects the president and the prime minister’s ruling party has a majority in the parliament. The appointment was confirmed following a joint session Monday by Ethiopia’s two houses of parliament, the House of People’s Representatives and the House of Federation, after returning from a two-month recess. Shortly after he was sworn in, Taye vowed that Ethiopia will actively participate in peace and security efforts in the Horn of Africa, especially the conflict in Sudan

Philippines Appoints Ronald Mendoza as New Undersecretary of Education

Shifting our focus to Philippines, President Ferdinand Marcos Jr. has appointed Ronald Mendoza as the new Undersecretary of the Department of Education. This decision reflects the administration’s commitment to enhancing the quality of education in the Philippines. Mendoza is no stranger to public service and brings a wealth of experience to this vital role. Ronald Mendoza previously served as the Dean of the Ateneo School of Government. His leadership there focused on governance and public administration reform. He has also spent over two decades advocating for development policy. This extensive background makes him well-suited for the challenges that lie ahead.

Slovenia Welcomes New Defence and Education Ministers

In Slovenia, the National Assembly appointed two new ministers in the Robert Golob government on 7 October. Veteran liberal politician Borut Sajovic was endorsed as Slovenia’s new defence minister, and long-serving education official Vinko Logaj became minister of education. Sajovic, 64, has served as the leader of the deputy group of Golob’s Freedom Movement since being elected to the National Assembly in the April 2022 election. He succeeds Marjan Šarec, who was elected member of the European Parliament in June. A veterinarian by profession, Sajovic had served two terms as Liberal Democrat MP, between 2004 and 2011, as well as mayor of Tržič, a town in northwest Slovenia, in 2006-2022, before joining the party founded by Golob.

TD Bank Faces Historic $1.3 Billion Penalty from FinCEN

In the realm of regulatory affairs, the Financial Crimes Enforcement Network (FinCEN)’s historic $1.3 billion penalty against TD Bank for willful and egregious violations of the Bank Secrecy Act (BSA) sent shockwaves through the financial industry. As the largest penalty ever imposed on a depository institution by FinCEN, and part of a larger $3 billion settlement that includes actions from the OCC and Federal Reserve, it highlights the severe consequences of failing to maintain an effective anti-money laundering (AML) program.

Buckhannon City Councilman Resigns Amid Child Pornography Charges

Shifting our attention to United States, David McCauley, the Buckhannon city councilman facing federal child pornography charges, has resigned from council. Mayor Robbie Skinner has accepted his resignation on behalf of the Council and the City of Buckhannon.

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