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By Kyung-Yoon Lee and Pil-Kook Lee Date: January 2008 Under the Financial Holding Company Act (the FHCA), a financial holding company (FHC) is defined as a company which, through ownership, “controls” a company that engages in “financial business” and 50% or more of the total assets of which is comprised of shares of controlled subsidiary companies. The “financial business” under the FHCA is...