Is notice to or approval from the Board required prior to engaging in a financial activity?

CFR · 2024-01-01 · US · Title 12

(a) (2) (3) (A) The company to be acquired is substantially engaged in activities that are financial in nature, incidental to a financial activity, or otherwise permissible for the financial holding company under section 4(c) of the BHC Act (12 U.S.C. 1843(c)); (B) The financial holding company complies with the notice requirements of § 225.87, if applicable; and (C) The company conforms, terminates, or divests, within 2 years of the date the financial holding company acquires shares or control of the company, all activities that are not financial in nature, incidental to a financial activity, or otherwise permissible for the financial holding company under section 4(c) (12 U.S.C. 1843(c))of the BHC Act. (ii) (b) (c) (2)

official document · source cfr-2024 · id 12:§ 225.85