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CS Professional · Strategic Management and Corporate Finance · An Overview on Listing and Issuance of Securities in International Financial Services Centre

Which activity listed below is NOT itself a 'financial service' as defined in the IFSCA Act, 2019, even though it relates to a listing in an IFSC?

A unit in the IFSC that provides services is a financial institution, not a financial service. Underwriting issuance, maintaining ownership records and advising on subscription are each defined financial services, while the entity rendering them falls under the separate definition of financial institution.

  1. AUnderwriting the issuance of a financial product
  2. BMaintaining records of ownership of a financial product
  3. CRendering advice on subscribing to a financial product
  4. DA unit in the IFSC that provides such servicesCorrect

Explanation

Underwriting, record maintenance and advice are all listed as financial services. A unit set up in an IFSC that renders financial services is a financial institution, which is a different defined term, not a financial service. The distractor confuses the provider with the service.

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