66 - Activities auxiliary to financial services and insurance activities

This Chapter has been extracted from the ONS Explanatory Notes and provides a more detailed explanation of possible activities that could fall within the SIC Codes related to the Chapter.

This division includes the provision of services involved in or closely related to financial service activities, but not themselves providing financial services. The primary breakdown of this division is according to the type of financial transaction or funding served.

66.1 Activities auxiliary to financial services, except insurance and pension funding

This group includes the furnishing of physical or electronic marketplaces for the purpose of facilitating
the buying and selling of stocks, stock options, bonds or commodity contracts.

66.11 Administration of financial markets

This class includes the operation and supervision of financial markets other than by public authorities,
such as:
- commodity contracts exchanges
- futures commodity contracts exchanges
- securities exchanges
- stock exchanges
- stock or commodity options exchanges

66.12 Security and commodity contracts brokerage

This class includes:
- dealing in financial markets on behalf of others (e.g. stock broking) and related activities
- securities brokerage
- commodity contracts brokerage
- activities of bureaux de change etc.

This class excludes:
- dealing in markets on own account, see 64.99
- portfolio management, on a fee or contract basis, see 66.30

66.19 Other activities auxiliary to financial services, except insurance and pension funding

This class includes activities auxiliary to financial service activities n.e.c. such as:
- financial transaction processing and settlement activities, including for credit card transactions
- investment advisory services
- activities of mortgage advisers and brokers

This class also includes:
- trustee, fiduciary and custody services on a fee or contract basis

This class excludes:
- activities of insurance agents and brokers, see 66.22
- management of funds, see 66.30

66.2 Activities auxiliary to insurance and pension funding

This group includes acting as agents (i.e. brokers) in selling annuities and insurance policies or providing  other employee benefits and insurance and pension related services such as claims adjustment and third party administration.

66.21 Risk and damage evaluation

This class includes the provision of administration services of insurance, such as:
- assessing insurance claims
• claims adjusting
• risk assessing
• risk and damage evaluation
• average and loss adjusting
- settling insurance claims

This class excludes:
- appraisal of real estate, see 68.31
- appraisal for other purposes, see 74.90
- investigation activities, see 80.30

66.22 Activities of insurance agents and brokers

This class includes:
- activities of insurance agents and brokers (insurance intermediaries) in selling, negotiating or soliciting of annuities and insurance and reinsurance policies.

66.29 Other activities auxiliary to insurance and pension funding

This class includes:
- activities involved in or closely related to insurance and pension funding (except financial intermediation,
claims adjusting and activities of insurance agents):
• salvage administration
• actuarial services

This class excludes:
- marine salvage activities, see 52.22

66.3 Fund management activities

66.30 Fund management activities

This class includes portfolio and fund management activities on a fee or contract basis, for individuals, businesses and others, such as:
- management of mutual funds
- management of other investment funds
- management of pension funds

 

For all queries related to this Chapter or any other aspect of SIC Codes, please contact the Office of National Statistics on 01329 444970 or email classifications.helpdesk@ons.gov.uk.