Section 61(1)

In this Act “financial services” means any service of a financial nature, including (but not limited to)— insurance-related services consisting of— direct life assurance; direct insurance other than life assurance; reinsurance and retrocession; insurance intermediation, such as brokerage and agency; services auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services; banking and other financial services consisting of— accepting deposits and other repayable funds; lending (including consumer credit, mortgage credit, factoring and financing of commercial transactions); financial leasing; payment and money transmission services (including credit, charge and debit cards, travellers' cheques and bankers' drafts); providing guarantees or commitments; financial trading (as defined in subsection (2)); 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; money brokering; asset management, such as cash or portfolio management, all forms of collective investment management, pension fund management, custodial, depository and trust services; settlement and clearing services for financial assets (including securities, derivative products and other negotiable instruments); providing or transferring financial information, and financial data processing or related software (but only by suppliers of other financial services); 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).

← 61 · All articles · 2 →

Source: legislation.gov.uk · retrieved 2026-08-30