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6.4 Prior Approval Required for Financial Holding Companies to Acquire a Company with Consolidated Assets of More than $10 Billion

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6.4 Prior Approval Required for Financial Holding Companies to Acquire a Company with Consolidated Assets of More than $10 Billion

 

 


6.4.       Prior Approval Required for Financial Holding Companies to Acquire a Company with Consolidated Assets of More than $10 Billion.  The Act preserves the general ability of financial holding companies to engage in activities that have been deemed to be financial in nature without prior regulatory approval.  However, if the commencement of such activities by a financial holding company will be through the acquisition of a company with consolidated assets of more than $10 billion, prior approval of the Fed will be required.  This provision is effective on the Transfer Date.