Which of the following tends to focus its business activities on corporate and institutional finance and investment banking? O Schedule 1 banks Schedule Ill banks Schedule il banks e Trust and loan companies What key fact distinguishes a principal from an agent? The principal earns a commission on trades O The principal owns the securities to be traded The principal runs a lower risk than an agent O The principal needs the agent to undertake trading As what may a dealer NOT act in the secondary market? Principal O Agent Broker O Underwriter O