Implementation
Financing of proliferation of weapons of mass destruction
3.3. Financial institutions: general definition and their activities and operations related to managing clients’ assets
Note: Numbering of activities and operations refers to their original classification from the General Glossary.
Natural person
Legal person
Customers
Financial institutions
Activities
Operations
For
Conduct as a business
On behalf of
Managing of clients’ assets
Deposits
1. Acceptance of
From the public
Other repayable funds
Includes private banking
Life insurance
12. Underwriting and placement of
Other investment related insurance
Applies to
Insurance undertakings
Agents
Insurance intermediaries
Brokers
Collective
9. Portfolio management
Individual
Cash
10. Safekeeping and administration
Liquid securities
On behalf of other persons
Money
11. Investing, administering or managing
Funds
3.4. Financial institutions: other activities and operations
Financial institutions
Other activities and operations
Consumer credit
Mortgage credit
With recourse
Without recourse
2. Lending
Factoring
Including forfeiting
E.g.
Finance of commercial transactions
3. Financial leasing
Does not extend to consumer products
5. Issuing and managing means of payment
Credit cards
Debit cards
E.g.
4. Money or value transfer services (MVTS)
Cheques
Traveler’s cheques
Does not apply to persons that provide financial institutions with message or support systems (See IN to Rec. 16)
Money orders
Bankers’ drafts
13. Money and currency changing
Electronic money
7. Trading in
(a) Money market instruments
Cheques
Bills
(b) Foreign exchange
E.g.
Certificates of deposit
(c) Exchange, interest rate and index instruments
(d) Transferable securities
Derivatives
(e) Commodity futures trading
6. Financial guarantees and commitments
Provision of related financial services
8. Participation in securities issues
3.5. Designated non-financial businesses and professions
Casinos
Designated non-financial businesses and professions (DNFPBs)
Includes Internet- and ship-based casinos
Real estate agents
Within professional firms
Dealers in precious metals
Partners
Employed professionals
Dealers in precious stones
Lawyers
Sole practitioners
Notaries
Does not refer to “internal” professionals that are employees of other types of businesses
Independent legal professionals
Independent accountants
A formation agent of legal persons
A director or a secretary of a company or a partner of a partnership
Persons and businesses not covered elsewhere
Trust and company service providers (TCSP)
Acting as
A trustee of an express trust
Provide following services to third parties
A nominee shareholder for another person
Providing
Registered office
Address
Accommodation
Or arranging for another person to act as
Business
Correspondence
Administrative