Which of the following services would NOT typically fall under the definition of specified activities?

The provision of independent legal advice does not typically fall under the definition of specified activities as defined by regulatory frameworks in financial services. Specified activities generally include services that directly involve the handling or management of financial products or advising clients on financial matters that are regulated, such as pensions or loans.

Independent legal advice, while crucial in many financial transactions, is classified as a legal service rather than a financial service. Legal advice focuses on the interpretation of law and providing legal opinions, which is distinct from activities that involve the management of financial products or services. Consequently, the other options, like setting up pensions or offering loans, are directly related to financial activities governed by financial regulations, aligning them closely with the framework of specified activities.