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;

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).