Which of the Below Statements Is TRUE

Which of the below statements is TRUE?

A) Insurance companies have not been involved in the pension business through their issuance of GICs and annuities or through subsidiaries.
B) The trust departments of commercial banks do not manage pension funds.
C) Foreign entities are permitted to participate in the management of pension funds.
D) A very large number of foreign financial institutions have acquired interests in U.S. bond management firms in order to enter the pension fund money management business.