Which of the following activities is included in the definition of non-MIFID?

The definition of non-MIFID activities encompasses various financial operations that fall outside the scope of the Markets in Financial Instruments Directive (MiFID) regulations. One of the primary types of activities included in the non-MIFID category is effecting contracts of insurance. This is because such contracts are governed under a different regulatory framework, primarily the Insurance Distribution Directive, rather than the MiFID regulations which focus on securities, investment services, and trading activities in financial markets.

In contrast, advising on share transactions, managing hedge funds, and operating organized trading facilities all involve activities that are directly related to trading and investment in financial instruments. These activities typically require compliance with MiFID standards, as they directly impact the functioning of financial markets and investor protection. Therefore, effecting contracts of insurance stands out as a non-MIFID activity due to its distinct regulatory environment.