Which of the following would a business law professor most likely indicate as formerly applying to banks,trust companies,stockbrokerages,and insurance companies?

Question

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Historically, banks, trust companies, stockbrokerages, and insurance companies were subject to strict regulations and were prohibited from conducting business outside of their respective sectors. This was known as the "separation of banking and commerce." In recent years, however, there have been moves towards allowing more cross-sector activity. Choice A is incorrect because participation by banks and trust companies in the insurance sector has become more common in recent years. Choice B is incorrect because ownership rules for national banking institutions have not changed significantly. Choice D is incorrect because while subsidiary companies may sell insurance on websites, this is not a characteristic unique to the aforementioned financial institutions.

Which of the Following Would a Business Law Professor Most