S.126 Financial auxiliaries

The sector comprises all resident corporations and quasi-corporations which are engaged in activities closely related to financial intermediation, but which are not financial intermediaries themselves. These include:
• Insurance brokers, salvage and average administrators, insurance and pension consultants, etc.;
• Loan brokers, securities brokers, investment advisers, etc.;
• Flotation corporations that manage the issue of securities;
• Corporations whose principal function is to guarantee, by endorsement, bills and similar instruments;
• Corporations which arrange derivative and hedging instruments, such as swaps, options and futures (without issuing them);
• Corporations providing infrastructure for financial markets;
• Central supervisory authorities of financial intermediaries and financial markets if they are separate institutional units;
• Investment fund management companies;
• Corporations providing stock exchange and insurance exchange;
• Non-profit institutions serving financial corporations but which are not themselves engaged in financial intermediation such as lobbyists for financial corporations;
• Payment institutions (facilitating payments between buyer and seller).

This sector also includes head offices that control a group of other institutions belonging to sector S.12, but which cannot be classified under any other sub-sector of S.12 themselves.

The sector also includes non-profit corporations recognised as independent legal entities that serve units belonging to sector S.12 but which are not financial intermediaries themselves. These include, for instance, lobbyists and central organisations of financial and insurance corporations.

Institutions operating as financial auxiliaries are divided into sub-sectors. [0]

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