s 61 Meaning of “financial services” and “financial products”
(1) In this Act “ financial services ” means any service of a financial nature, including (but not limited to)— (a) insurance-related services consisting of— (i) direct life assurance; (ii) direct insurance other than life assurance; (iii) reinsurance and retrocession; (iv) insurance intermediation, such as brokerage and agency; (v) services auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services; (b) banking and other financial services consisting of— (i) accepting deposits and other repayable funds; (ii) lending (including consumer credit, mortgage credit, factoring and financing of commercial transactions); (iii) financial leasing; (iv) payment and money transmission services (including credit, charge and debit cards, travellers' cheques and bankers' drafts); (v) providing guarantees or commitments; (vi) financial trading (as defined in subsection (2)); (vii) participating in issues of any kind of securities (including underwriting and placement as an agent, whether publicly or privately) and providing services related to such issues; (viii) money brokering; (ix) asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services; (x) settlement and clearing services for financial assets (including securities, derivative products and other negotiable instruments); (xi) providing or transferring financial information, and financial data processing or related software (but only by suppliers of other financial services); (xii) providing advisory and other auxiliary financial services in respect of any activity listed in sub-paragraphs (i) to (xi) (including credit reference and analysis, investment and portfolio research and advice, advice on acquisitions and on corporate restructuring and strategy). (2) In subsection (1)(b)(vi), “ financial trading ” means trading for own account or for account of customers, whether on an investment exchange, in an over-the- counter market or otherwise, in financial products. (3) In this Act “ financial products ” means— (a) money market instruments (including cheques, bills and certificates of deposit); (b) foreign exchange; (c) derivative products (including futures and options); (d) exchange rate and interest rate instruments (including products such as swaps and forward rate agreements); (e) transferable securities; (f) other negotiable instruments and financial assets (including bullion).