MSIC 642—Activities of holding companies and financing conduits

Where 642 sits

1. L Financial and Insurance/Takaful Activities
2. 64 Financial service activities, except insurance and pension funding
3. 642 Activities of holding companies and financing conduits

Contains 2 narrower codes

• 6421 Activities of holding companies
• 6422 Activities of financing conduits

What 642 includes

• This group includes the activities of holding companies and financing conduits. These are corporate groups' captive financial entities, i.e., units created by a financial or non-financial group to fulfil specific financial activities, whose main activity it is to own the group or to act as a vehicle to arrange and channel funds within the group, respectively.

What 642 excludes

• This group excludes captive factoring and invoicing companies (see class 6494) , own-account investment activities, such as by venture capital companies and private equity firms (see class 6499) , active management of companies and enterprises, strategic planning and decision making of the company (see class 7010) , other activities of corporate groups' captive financial entities, which will be classified under the relevant activity classes.

642 in other systems