Commentary

A7.224A Financial products

Administration and compliance

A7.224A Financial products

A7.224A Financial products

This hallmark applies with effect from 23 February 20161, and describes schemes which include certain financial products, including2:

  1.  

    (a)     a loan, share, or derivative contract3

  2.  

    (b)     a securities repo, creditor repo (or quasi-repo), or debtor repo (or quasi-repo)4

  3.  

    (c)     a stock lending or alternative finance arrangement5, and

  4.  

    (d)     a contract which, in accordance with GAAP, is required to be recognised as a loan, deposit or other financial asset or obligation

Arrangements are prescribed if6:

  1.  

    •     conditions 1 and 2 are met, and

  2.  

    •     either condition 3 or condition 4 is met, subject to certain exclusions

The conditions are as

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