pengenæring

English translation: loan finance trade

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Danish term or phrase:pengenæring
English translation:loan finance trade
Entered by: dmesnier

19:48 Feb 23, 2024
Danish to English translations [PRO]
Bus/Financial - Law: Taxation & Customs / Skat legal guide
Danish term or phrase: pengenæring
Hi, I'm trying to verify the best English translation for this. financial business? This appears in the following section the SKAT's legal guide. Thanks for your help!


Det angives således eksempelvis, at aktiviteterne udgør næring, når selskaber driver næring ved finansiering, såkaldt pengenæring. Vil funktioner i en afdeling af et udenlandsk koncernselskab, der går ud på at håndtere indlån og udlån til samtlige selskaber i koncernen (og på ingen måde uden for koncernen) anses for udøvelse af erhverv (finansieringsnæringsvirksomhed), der kvalificerer til et fast driftssted, hvis aktiviteten udøves gennem et fast forretningssted i Danmark? selskabers adgang
dmesnier
United States
Local time: 18:42
loan finance trade
Explanation:
Although the context is a corporate one: 'når selskaber driver næring ved finansiering, såkaldt pengenæring', I reckon that my City of London ex-employers in the first weblink and concomitant example sentence have skewed the emphasis towards corporate vs. personal finance.

Financial business partakes not only of credit finance and borrowing, but also of investment schemes, so IMO is drawn wider and arguably catch a US-type 'money purchase scheme, namely an employee retirement benefit plan that resembles a corporate profit-sharing program.' (The UK peanuts-pension version I was once locked into - with an infamous life and insurance corporation that shall remain nameless - resembled more of a loss-sharing scam, but enough of that inequitable life).

Selected response from:

Adrian MM.
Austria
Grading comment
Thanks for your help!
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1financial business
Pernille Kienle
3loan finance trade
Adrian MM.
1money services business
andres-larsen


Discussion entries: 1





  

Answers


58 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
financial business


Explanation:
Hope this helps :)


    https://www.ordbogen.com/en/search/classic?query=n%C3%A6ring&dictionaryId=ordbogen-daen
Pernille Kienle
Canada
Local time: 16:42
Native speaker of: Native in DanishDanish, Native in EnglishEnglish
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Michele Fauble
19 hrs
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
loan finance trade


Explanation:
Although the context is a corporate one: 'når selskaber driver næring ved finansiering, såkaldt pengenæring', I reckon that my City of London ex-employers in the first weblink and concomitant example sentence have skewed the emphasis towards corporate vs. personal finance.

Financial business partakes not only of credit finance and borrowing, but also of investment schemes, so IMO is drawn wider and arguably catch a US-type 'money purchase scheme, namely an employee retirement benefit plan that resembles a corporate profit-sharing program.' (The UK peanuts-pension version I was once locked into - with an infamous life and insurance corporation that shall remain nameless - resembled more of a loss-sharing scam, but enough of that inequitable life).



Example sentence(s):
  • UK: Although reliance on loan finance has to an extent been reduced by the growth of the capital markets, loan finance remains a *key component of corporate finance* in most countries.

    Reference: http://www.treasurers.org/ACTmedia/introtoloanfin.pdf
    Reference: http://www.investopedia.com/terms/m/moneypurchasepensionplan...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Thanks for your help!
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5 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
money services business


Explanation:
Money Services Business Definition
https://www.fincen.gov › money-...
The term "money services business" includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more ...

Money Services Business (MSB) Information Center
https://www.irs.gov › businesses
11 oct. 2023 — An MSB is generally any person offering check cashing; foreign currency exchange services; or selling money orders, travelers' checks ...

Money laundering supervision for money service businesses
https://www.gov.uk › guidance
How to register. You should apply to register with HMRC using the online service. The registration will include a fit and proper test, unless you're: ... You'll ...

money services business Definition
https://www.lawinsider.com › m...
Define money services business. means a person or entity that is engaged in the business of remitting funds or transmitting funds by any means or through ...

Money Services Business Registration | City of New York
https://nyc-business.nyc.gov › mo...
Money services businesses (MSBs) must register with the Financial Crimes Enforcement Network at the United States Treasury Department.

money service business - FCA Handbook
https://www.handbook.fca.org.uk › ...
money service business · (a) operating a bureau de change; or · (b) transmitting money, or any representation of monetary value, by any means; or · (c) cashing ...

What is a Money Service Business?
https://www.ecspayments.com › ...
28 dic. 2023 — A money service business is any person, entity, partnership, or financial institution that handles the conversion or transfer of money.

andres-larsen
Venezuela
Local time: 19:42
Native speaker of: Native in EnglishEnglish
PRO pts in category: 43
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