If a Licensed Person determines that the client or beneficial owner is a PEP, it should apply the following additional client due diligence measures: 1. Have the opening or operation of an account for any of the persons mentioned in this chapter must be approved by the senior management of the Licensed Person. 2. Where a Licensed Person has accepted a client, and the client or beneficial owner becomes or is found to be one of the persons mentioned in this article, the Licensed Person shall obtain the approval of the senior management to continue the business relationship; 3. Take measures to establish the source of wealth and source of funds of PEPs or of any person associated with them, who can be a client or beneficial owner.