Financial Services Modernization Act Of 1999

Dictionary Says

Definition of 'Financial Services Modernization Act Of 1999'


A law that works to partially deregulate the financial industry. The Financial Services Modernization Act of 1999 allows companies working in the financial sector to integrate their operations and invest in each others businesses and consoldiate. This includes businesses such as insurance companies, brokerage firms, investment dealers, commercial banks etc.

Investopedia Says

Investopedia explains 'Financial Services Modernization Act Of 1999'


Also known as the Gramm-Leach-Bililey Act, the law was enacted in 1999 and removed some of the last restrictions of the Glass-Steagall Act of 1933. The financial industry began to struggle during economic turns and argued that if allowed to collaborate, they would have divisions that would be profitable during their main divisions downturns, avoiding major losses and closures.

comments powered by Disqus
Hot Definitions
  1. Chicago Mercantile Exchange - CME

    The world's second-largest exchange for futures and options on futures and the largest in the U.S. Trading involves mostly futures on interest rates, currency, equities, stock indices and agricultural products.
  2. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
  3. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  4. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  5. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  6. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
Trading Center