The room can extend the 60-day period at point i by 30 days. The Board of Directors may extend the deadline with the agreement of the bank holding company, which submits the notice in accordance with this subsection. There is nothing in this subsection that limits the House`s power to lay conditions for a measure under this section. The Board of Directors does not indicate that a financial or incidental activity under this subsection, when the Minister of Finance informs the Commission in writing, no later than 30 days after the date of receipt of the notice described in Clause (i) (or a longer period than the Board of Directors deems appropriate in the current circumstances) than the Secretary of the Treasury is of the opinion that the activity is not financial or incidental. financial activity or is not authorized by other means in this section. The Board of Directors may, from time to time, review a company or bank controlled by that company, or require sworn reports from appropriate directors or directors of that company or bank only to ensure compliance with the provisions of this subsection and to enforce that compliance. Any notification submitted under this subsection is deemed approved by the board, unless, before the 60-day period beginning with the date the committee receives a full notification referred to in Point A, the committee issues an order rejecting the transaction or activity and explaining the reasons for the refusal. Restrictions on ownership and control of shares, assets or units of ownership covered in paragraph 4, point H), by or for a subsidiary of a deposit-taking institution do not apply to a financial subsidiary (as it is in section 24a of this security) where the Board of Directors and the Minister of Finance jointly authorize the financial subsidiaries of the banks to conduct brokerage banking activities pursuant to Section 122 of the Gramm-Leach-Bliley Act. However, the Federal Reserve has never publicly revoked a company`s HCF status. Instead, the Fed generally orders a non-compliant HSF to enter into a Section 4 (m) agreement in which the company undertakes to correct its defects within a specified time frame. However, these confidential agreements of 4 (m) can be shaken up indefinitely. In the meantime, non-compliant EPCs may continue to engage in financial activities. With the exception of paragraph 3, no bank holding company may engage in non-bank activity or acquire or retain ownership or control of the shares of a company operating on the basis of subsection (c) (8) or (a) (2) or a complementary activity covered in point k) (1) (B), without informing the committee in writing at least 60 days before the expected start of the transaction or activity.