_____ Overturned the Section of the Banking Act of 1933

question 82

Multiple Choice

_____ overturned the section of the Banking Act of 1933 that prohibited commercial banks from selling insurance or performing the functions of investment banks.

• A) The Sarbanes-Oxley Act of 2002
• B) The Securities and Exchange Act of 1934
• C) The Financial Services Modernization Act of 1999
• D) The Securities Act of 1933

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Definitions:

Intervening Cause

An event that occurs after the defendant's act and contributes to a harm, potentially relieving the defendant of liability.

Superseding Cause

An unforeseeable event that interrupts the chain of causation and becomes the primary cause of an incident, relieving the defendant of liability.

Bystanders

Individuals who are present at an event or incident but do not take part in it.

Peril

A specific risk or cause of loss covered by an insurance policy, such as fire, theft, or flood.