(a) Any banking entity that engages in an
activity or makes an investment in violation of section 13 of the
BHC Act or this part, or acts in a manner that functions as an evasion
of the requirements of section 13 of the BHC Act or this part, including
through an abuse of any activity or investment permitted under subparts
B or C, or otherwise violates the restrictions and requirements of
section 13 of the BHC Act or this part, shall, upon discovery, promptly
terminate the activity and, as relevant, dispose of the investment.
(b) Whenever the Board finds reasonable cause to believe any
banking entity has engaged in an activity or made an investment in
violation of section 13 of the BHC Act or this part, or engaged in
any activity or made any investment that functions as an evasion of
the requirements of section 13 of the BHC Act or this part, the Board
may take any action permitted by law to enforce compliance with section
13 of the BHC Act and this part, including directing the banking entity
to restrict, limit, or terminate any or all activities under this
part and dispose of any investment.
