Notification of Intention To Provide Cross-Border Services The Financial Services (Banking) Act

Transcription

1 2BCD2 Notification of Intention To Provide Cross-Border Services The Financial Services (Banking) Act All Gibraltar incorporated licensed institutions and Gibraltar subsidiary institutions that wish to carry on activities listed in Schedule 1 of The Financial Services (Banking) Act within the territory of a Member State other than through a branch in that State must complete this notification form. A separate notification form is required for each Member State in question. Before completing this form, applicants should read the Financial Services (Banking) Act and the Notes accompanying this form. Completed notification forms should be sent to the applicant s normal supervisory contact at: Financial Services Commission PO Box 940 Suite 3, Ground Floor Atlantic Suites Europort Avenue Gibraltar

2 1 State the name(s) of the institution (corporate name and any business name(s) used for the purposes of or in connection with any business carried on by it) in Gibraltar. 2 Indicate the legal form of the institution (body corporate, partnership, etc) and the date of the incorporation of formation. 3 Indicate any former name(s) by which the institution has been known. 4 Name the Member State within whose territory the institution will be carrying on activities listed in Schedule 1 of the Act other than through a branch in that State. 5 Indicate each of the activities listed in Schedule 1 of the Act which the institution intends to carry one within the territory of the Member State other than through a branch in that State. 6. Indicate the date on which it is intended to commence providing the service(s) listed in paragraph 5. (Note: The date should not be earlier than one month from the date this form is received by the Commissioner of Banking).

3 Activity 1. Acceptance of deposits and other repayable funds 2. Lending, including, inter alia, consumer credit, mortgage credit, factoring, with or without recourse, and financing of commercial transactions (including forfeiting) 3. Financial leasing 4. Payment services as defined in the Financial Services (EEA) (Payment Services) Regulations Issuing and administering means of payment (for example: credit cards, travellers cheques and bankers drafts) insofar as this activity is not covered by paragraph 4 6. Guarantees and commitments 7. Trading for own account or for account of customers in: (a) money market instruments (cheques, bills, certificates of deposits etc.) (b) foreign exchange (c) financial futures and options (d) exchange and interest-rate instruments (e) transferable securities 8. Participation in securities issues and the provision of services related to such issues 9. Advice to undertakings on capital structure, industrial strategy, and related questions and advice and services relating to mergers and the purchase of undertakings 10. Money broking 11. Portfolio management and advice 12. Safekeeping and administration of securities 13. Credit reference services 14. Safe custody services 15. Electronic Money* 16. Additional MiFID services and activities subject to mutual recognition under the BCD** *See separate matrix below for Electronic Money. **see separate matrix below for MiFID Services business

4 * Electronic Money: Please tick the appropriate boxes to show which activities are to be provided on a crossborder basis. Electronic Money Activities Issuance of electronic money Distribution of electronic money Redemption of electronic money Please tick the appropriate boxes below, if the firm also intends to provide payment services activity on a cross border basis. Payment Service Activity 1. Services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account. 2. Services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account. 3. Execution of payment transactions, including transfers of funds on a payment account with the user s payment service provider or with another payment service provider: (i) execution of direct debits, including one-off direct debits, (ii) execution of payment transactions through a payment card or a similar device, (iii) execution of credit transfers, including standing orders. 4. Execution of payment transactions where the funds are covered by a credit line for a payment service user: (i) execution of direct debits, including one-off direct debits, (ii) execution of payment transactions through a payment card or a similar device, (iii) execution of credit transfers, including standing orders. 5. Issuing and/or acquiring of payment instruments* 6. Money Remittance 7. Execution of payment transactions where the consent of the payer to execute a payment transaction is given by means of any telecommunication, digital or IT device and the payment is made to the telecommunication, IT system or network operator, acting only as an intermediary between the payment service user and the supplier of the goods and services.* * Please indicate if the activity is to include the granting of credit in accordance with the rules provided for in Regulation 32(2) Financial Services (Electronic Money) Regulations Does the firm intend to engage an agent to provide payment services or distribute or redeem electronic money on a cross-border services basis? If Yes, please provide the name and address of each agent. Please also indicate the types of payment service activities it is proposed each agent will provide in the host Member State and whether it is intended that the agent will also distribute or redeem electronic money on behalf of the electronic money institution. The agent(s) should be separately registered by the FSC using the Add an EMD Agent Form located on our website.

5 Name of agent Address of Agent Activities Please continue on a separate sheet if necessary. Does the firm intend to engage a distributor to distribute or redeem electronic money in any of the EEA States in question on a cross-border services basis? If Yes, please provide the name and address of each distributor. Please also indicate whether each distributor will either distribute or redeem electronic money or carry on both activities in the host Member State on behalf of the electronic money institution. Name of distributor Address of distributor Activities Please continue on a separate sheet if necessary. **MiFID Business Financial Instruments Investment services and activities Ancillary services A1 A2 A3 A4 A5 A6 A7 A8 B1 B2 B3 B4 B5 B6 B7 C1 C2 C3 C4 C5 C6 C7 C8 C9 C10 Please use Appendix A to complete this table.

6 Declaration We certify that we have read section 82(6) of the Financial Services (Banking) Act. We are aware that it is an offence under the terms of section 82(6) of the Act to provide to the Commissioner of Banking, the Banking Supervisor or any other person any information which is untrue in a material respect in connection with an application under the Act. We certify that the information given in answer to the questions above is complete and accurate to the best of our knowledge, and believe that there are no other facts relevant to this application of which the Commissioner of Banking should be aware. We undertake to inform the Commissioner of Banking of any changes material to the application which arise while the Commissioner of Banking is considering the application. Name Position held Signed Date Name Position held Signed Date

7 APPENDIX A SECTION A Investment Services and Activities - Core Services 1 Reception and transmission of orders in relation to one or more of the Instruments listed in section C. 2 Execution of orders on behalf of clients. 3 Dealing in any of the instruments listed in Section C for own account. 4 Portfolio Management. 5 Investment advice. 6 Underwriting of financial instruments or placing of financial instruments, listed in Section C, on a firm commitment basis. 7 Placing of financial instruments, listed in Section C, without a firm commitment basis. 8 Operation of Multilateral Trading Facilities. SECTION B Ancillary Services Non-core Services 1 Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management. 2 Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction. 3 Advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings. 4 Foreign exchange services where these are connected to the provision of investment services. 5 Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments. 6 Services related to underwriting.

8 7 Investment services and activities as well as ancillary services of the type included under Section A or this Section related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10 - where these are connected to the provision of investment or ancillary services. SECTION C Financial Instruments 1 Transferable securities. 2 Money-market instruments. 3 Units in collective investment undertakings. 4 Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash. 5 Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event). 6 Options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market and/or an MTF. 7 Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in C.6 and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls. 8 Derivative instruments for the transfer of credit risk; 9 Financial contracts for differences; 10 Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contracts relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Section, which have characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognised clearing houses or are subject to regular margin calls.