The Financial Services Modernization Act of 1999
A)stipulates that a financial services holding company that engages in commercial banking,investment banking,and insurance activities will be functionally regulated.
B)restricts bank holding companies from opening insurance underwriting affiliates.
C)requires banks that underwrite and sell insurance to operate under federal rather than state regulations as insurance companies.
D)All of the options.

Question

Quizplus · Accepted Answer

The Financial Services Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act, allows financial services holding companies to engage in commercial banking, investment banking, and insurance activities, and mandates that these activities be functionally regulated by the appropriate regulatory bodies.