Who is a financial intermediary?
Banks, managers of funds, investment companies, insurance
institutions, traders in securities and gambling casinos
are financial intermediaries.
Persons who on a professional basis accept, keep on deposit or help
invest or transfer assets belonging to third parties shall also be deemed
to be financial intermediaries, particularly persons who:
- undertake credit transactions (including consumer credit
or mortgages, factoring, financing of commercial
transactions or financial leasing);
- provide services related to payments, including electronic
transfers on behalf of third parties, or who issue or
manage means of payment such as credit cards and
travellers cheques;
- trade, on their own account or for third parties, in bank
notes or cash, money market instruments, currency,
precious metals, raw materials or securities (paper or
other rights) and their derivatives;
- …
- undertake asset management;
- make investments as investment adviser;
- keep or manage securities.
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