NISM-Series IX: Merchant Banking Certification Exam Notes

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  • US Investment Banking: Evolved from merchant banking, includes proprietary trading.
  • Glass-Steagall Act, 1933: Separated commercial and investment banking in the US.
  • Financial Modernisation Act, 1999: Repealed Glass-Steagall, allowing banking consolidation.
  • Dodd-Frank Act, 2010: Regulated investment banks post-2008 crisis, introduced Volcker Rule.
  • Merchant Banking in India: Initiated by foreign banks like Grindlays (1967) and Citibank (1970).

NISM Merchant Banking

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