CH23110 - Information & Inspection Powers: Information notices: Financial Institution Notice: Definition of Financial Institutions
Financial Institutions include all banks and building societies so in most cases, it will be very clear whether the intended recipient of the FIN is a Financial Institution.
A Financial Institution is defined by reference to the Common Reporting Standard (CRS) definition. There are four categories of financial institution included in the definition
Custodial institution 바카라 사이트“ see IEIM400640
Depository Institution 바카라 사이트“ see IEIM400740. Some Electronic Money Institutions will not be Depository Institutions (see IEIM400750).
Investment entity 바카라 사이트“ see IEIM400760. A financial institution that is only treated as such because it is an investment entity is not a financial institution for the purposes of the FIN.
Specified Insurance entity 바카라 사이트“ see IEIM400840
The definition of a 바카라 사이트˜Financial Institution바카라 사이트™ also includes 바카라 사이트˜any person that issues a credit card바카라 사이트™. A credit card issuer is either a Financial Institution or financial services company that provides a credit card directly to the end user. A credit card issuer is directly responsible for the relationship between the cardholder and their accounts. A credit card issuer is not to be confused with the Payment Network that supports the card, such as MasterCard, VISA and certain E-Money businesses.
(This content has been withheld because of exemptions in the Freedom of Information Act 2000)
FA08/SCH36/PARA61ZA