Multiple Choice
Which of the following is not authorized by the Gramm-Leach-Bliley (GLBA) Act of 1999?
A) The formation of financial holding companies whereby banks, security firms, insurance companies, and other financial firms can affiliate under common ownership.
B) Financial holding companies can engage in merchant banking activities.
C) Financial holding companies can engage in any other activity that the Fed determines to be financial in nature or incidental to financial activities.
D) All of the above were authorized by GLBA.
Correct Answer:
Verified
Correct Answer:
Verified
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