In the separation of commercial banking and investment banking activities , which statement (A thru D is generally not true ?

Select one

a. Japan and the U.S. before 1987 allowed banks to operate both investment banking and commercial banking activities under one roof .

b. Universal banks are allowed in Germany , Switzerland and the United Kingdom .

c. Joint investment banking and commercial banking activities under one roof can potentially achieve the economy of scale and scope .

d. Joint investment banking and commercial banking activities under one roof could create many conflicts of interest .

e. All are true .