A robust, consolidated supervisory framework, like the one embodied in the BHC Act, provides a supervisor with the tools it needs to understand, monitor and, when appropriate, restrain the risks associated with an organization's consolidated or group-wide activities.
While the changes in the status of the formerly free-standing investment banks have removed one important set of firms that fell outside the boundary of prudential regulation, there will surely be other such systemically important firms in the future.