Explanatory Note
Title: pensions
It comprises financial intermediation activities essentially associated with
distributing funds through means other than lending: underwriting swaps,
options and other hedging arrangements, activities of viatical settlement companies, activities
investment and trading on own account (e.g. by private equity companies)
risk, investment clubs, etc.) and acting as counterparty for clearing and settlement
of transactions (e.g. clearing houses).
Includes, in particular, activities linked to investment in securities on behalf of
own (shares, bonds, equity securities, participation units in investment funds)
investment, etc.), activity of financial companies created to hold securitized assets,
except securitization, asset securitization operations other than loans, through
issuing financial instruments, trading swaps or options on own account and
negotiation of contracts for goods on one's own account.
Includes the issuance of cryptoassets with a corresponding liability (not for a
monetary authority) and the trading of cryptoassets with a corresponding responsibility
on your own.
Includes currency exchange on your own.
Does not include:
Issuing crypto assets without a corresponding liability (other than for
a monetary authority) (63100);
Activities of holding companies (6421);
Securities and real estate investment funds (643);
Financial leasing (64910);
Loan securitization (6492);
Retirement savings funds (65300);
Mediation in securities trading (66120);
Activities of exchange offices (66120);
Brokerage of cryptoassets with a corresponding responsibility, which qualifies them as
assets (66120);
Mortgage brokerage (66190);
Activities of investment fund management companies (663);
Real estate activities (68);
Operating rental (77);
Credit collection activities (82910);
Donation activities by associative organizations (9499);