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A government advisory panel on Thursday compiled a set of rules calling for financial regulators to be authorized to inspect major nonfinancial shareholders of banks.

A subcommittee of the Financial System Council, which has been drafting rules governing the entry of nonfinancial companies into the banking business, has agreed that shareholders with a stake of 5 percent or more in their affiliated banks should be subject to inspection by state regulators, members of the panel said.

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