(a) this Annex shall apply to measures affecting the supply of financial services; A reference to the supply of a financial service in this Annex means the supply of a service within the meaning of Article I(2) of the Agreement. (c) the provision and transmission of financial information and the processing of financial data referred to in point (a)(xv) of paragraph 5 of the Annex, as well as advisory and other ancillary services, other than intermediation, related to banking and other financial services referred to in point (a)(xvi) of paragraph 5 of the Annex. (b) Each Member shall permit, subject to the availability of qualified personnel in its territory, the temporary entry into its territory of the following personnel in the context of a commercial presence of a financial service supplier of another Member: 5. Each Member shall grant financial service providers of another Member the right to establish or expand a commercial presence in its territory, including through the acquisition of existing businesses. 3. A new financial service is a service of a financial nature, including services relating to existing and new products or to the manner in which a product is supplied that is not supplied by a financial service provider in the territory of a given Member, but in the territory of another Member. 2. Notwithstanding Article XIII of the Agreement, each Member shall ensure that financial service suppliers of another Member established in its territory enjoy most-favoured-nation treatment and national treatment when they acquire or acquire financial services by public bodies of the Member in its territory. 10. Each Member shall endeavour to eliminate or limit significant adverse effects on financial service providers of another Member: panels on supervisory and other financial disputes shall have the necessary expertise in relation to the financial service concerned.
(xiii) asset management, such as cash or portfolio management, all forms of collective investment, pension fund management, depositary, depositary and fiduciary services; (d) other measures which, while consistent with the provisions of the Agreement, affect the ability of financial service providers of another Member to operate, compete with or enter the Member`s market; Financial contracts or financial services contracts are contracts used in accordance with securities law to enable individually traded agreements on goods, securities, currencies or other interests of an economic or financial nature. These contracts are used to buy, sell, lend, trade and redeem on the financial markets. Different types of financial transactions require different variants of the core financing contract. A financial services contract can also be called a financial services contract or an investment management services contract. (viii) all payment and money transfer services, including credit, loading and debit cards, traveller`s cheques and bank drafts; 3. Each Member shall allow non-resident financial service providers, as contracting entities, through an intermediary or as an intermediary and under conditions providing for national treatment, to provide: (b) reinsurance and retrocession and insurance-related services referred to in paragraph 5(a)(iv) of the Annex; (i) specialists in IT services, telecommunications services and the accounts of the financial service provider; and (d) Article I(3)(c) of the Agreement shall not apply to services covered by this Annex. Each Member shall list existing monopoly rights for financial services and endeavour to eliminate or reduce their scope. Notwithstanding point (b) of paragraph 1 of the Financial Services Annex, this paragraph shall apply to the activities referred to in point (b)(iii) of paragraph 1 of the Annex. (b) a Member that is a party to such an agreement or arrangement within the meaning of point (a), whether a future or existing agreement or arrangement, shall give other interested Members a reasonable opportunity to negotiate their accession to such agreements or arrangements or to negotiate similar agreements with it, in circumstances where there would be equivalent arrangements; the monitoring, implementation of this Regulation and, where appropriate, procedures for the exchange of information between the Parties to the Agreement or Arrangement. If a member grants recognition autonomously, it must give each other member a sufficient opportunity to prove that such circumstances exist. If you have any legal requirements outside of financial services agreements, please read our full list of customizable service contracts.
Other names for this document: Financial Services Agreement, Investment Management Services, Financial Services Agreement 2. Commercial presence is a company in the territory of a Member for the provision of financial services and includes wholly or partly subsidiaries, joint ventures, partnerships, sole proprietorships, franchise operations, branches, agencies, representative offices or other organizations. A financial contract is a transaction in the form of an agreement, contract or option to sell, buy, exchange, loan or redeem independently agreed.3 min read 1. A non-resident financial service supplier is a financial service supplier of a Member that provides a financial service in the territory of another Member from an institution located in the territory of another Member, whether or not such a financial service supplier has a commercial presence in the territory of the Member in which the financial service is supplied. 11. With respect to the non-discriminatory measures referred to in points (a) and (b) of paragraph 10, a Member shall endeavour not to limit or limit the current level of market opportunities or benefits enjoyed by financial service providers of all Non-Class Members in the territory of the Member, provided that such obligation does not result in unfair discrimination against the Member`s financial service providers: who apply these measures. 9. (a) Each Member shall allow the following staff of a financial service supplier of another Member that establishes or has established a commercial presence in the territory of the Member to enter its territory temporarily: (ii) specialists in the activity of the financial service provider. (a) Notwithstanding any other provision of the Convention, a Member shall not be prevented from taking measures for prudential reasons, including to protect investors, depositors, policyholders or persons to whom a financial service provider has a fiduciary duty, or to ensure the integrity and stability of the financial system. If such measures are not in conformity with the provisions of the Agreement, they shall not be used to circumvent the Member`s obligations or obligations under the Convention. (i) officials who have protected information essential to the establishment, control and operation of the financial service provider`s services; and (a) a financial service is any service of a financial nature offered by a financial service provider of a Member.
Financial services include all insurance and insurance-related services as well as all banking and other financial services (excluding insurance). Financial services include the following activities: (b) non-discriminatory measures restricting the extension of the activities of financial service providers to the entire territory of the Member; Banking and other financial services (excluding insurance) Futures contracts are a type of financing contract that involves private agreements between two parties that give the buyer the obligation to purchase an asset at an agreed price at an agreed time. The assets involved in these contracts include, for example, commodities such as precious metals, grains, oil, electricity, natural gas and livestock, although financial instruments and foreign currencies are now also common. (b) “financial service provider” means any natural or legal person of a Member who provides or intends to provide financial services, the term “financial service provider” not including a public body. 2. Where a Member requires membership in or participation in a self-regulatory body, securities or futures exchange or market, clearing house or other organization or association in order for financial service providers of another Member to provide financial services on the same basis as financial service providers of the Member, or where the Member directly or indirectly supplies such entities; Privileges or benefits in the supply of financial services, the Member shall ensure that such entities accord national treatment to financial service suppliers of another Member established in the territory of the Member. .