Politically Exposed Person (PEP) Weekly Digest – Volume 79

79th PEP Weekly Digest:

Introducing the 79th 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 Nov 10, 2024 and Feb 09, 2025. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Peru’s President Appoints Jorge Luis Montero as New Energy & Mining Minister Amid Protests from Informal Miners

One noteworthy event has occurred in Peru, President Dina Boluarte has appointed Jorge Luis Montero Cornejo as her new energy & mining minister, after Montero’s predecessor, Rómulo Mucho, was impeached by congress on 26 November. Montero, who was deputy mining minister from 2020-2021, will face the immediate challenge of resolving protests by informal miners who have been angered by the government’s efforts to tighten regulations on the sector. Legislators partially defused the protests on 29 November by extending by a further six months the deadline for artisanal and small-scale miners to formalise their status under the Registro Integral de Formalización Minera (Reinfo) scheme, which had been due to expire on 31 December.

Oleksiy Chernyshov Appointed Ukraine’s Deputy Prime Minister and Minister of National Unity

Shifting our focus to Ukraine, the Verkhovna Rada appointed Oleksiy Chernyshov to the post of Deputy Prime Minister of Ukraine and Minister of National Unity of Ukraine. From November 2022, Oleksiy Chernyshov heads “Naftogaz”.

Raffaele Fitto Resigns as Italy’s Minister for European Affairs to Join European Commission as Executive Vice President

In Italy, Raffaele Fitto has resigned as Italy’s minister for European affairs, the South, cohesion and the National Recovery and Resilience Plan (NRRP) to take on his new role as an executive vice president of the European Commission with the brief for cohesion and the NRRP. Fitto, a leading member of Premier Giorgia Meloni’s right-wing Brothers of Italy (FdI) party, wrote on Facebook that his two years as minister had been “thrilling” and “intense” thanking the prime minister for her confidence and support, as well as the other government partners, lawmakers and representatives of institutions.

Hong Kong Monetary Authority Fines China CITIC Bank $514,146 for Anti-Money Laundering Breaches

In the realm of regulatory affairs, the Hong Kong Monetary Authority (HKMA) has imposed a US$514,146 (HK$4m) fine on China CITIC Bank International Limited for breaching the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The penalty follows an HKMA investigation into CITIC’s compliance systems and controls under the ordinance. The investigation revealed deficiencies, including errors in the implementation of detection and core model rules in the bank’s automated transaction monitoring system. These errors caused the system to fail in generating alerts for suspicious transactions between November 2015 and July 2018.

BJP National Secretary H Raja Sentenced to 6 Months in Prison for Provocative Remarks on Periyar Statues and insulting DMK MP Kanimozhi

Shifting our attention to India, BJP National Secretary H Raja was sentenced to six months’ imprisonment and fined Rs 5,000 by a special court in Tamil Nadu for provocative remarks about demolishing Periyar statues and insulting DMK MP Kanimozhi in 2018.

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