Which of the following statements is not ture

A. Financial services corporations are large conglomerates that offer a wide range of financial services, including investment banking, brokerage operations, insurance, and commercial banking.

B. Credit unions are cooperative associations whose members are employees of the same firm. Member's savings are loan only to other members.

C. Life insurance companies take savings in the form of premiums and invest these funds, then return payments to the beneficiaries

D. While mutual funds are regulated by the SEC and tatget latge instutional investors, hedge funds are largely unregulated and marked to small investors.

Please, explain.