GMAT Sentence Correction (SC) | Re: Before 1988, insurance companies in California were free to charge wha

A.needing no approval from regulators before raising
CORRECT

B.and it needed no approval by regulators before raising
- 'it' can't refer to companies (plural)

C.and needing no approval from regulators before they raised
- writing 'and'here wrongly means that we are talking about 2 activities- of companies free to charge and companies not needing approval.

D.with approval not needed by regulators before they raised
- passive construction to be avoided

E.with no approval needed from regulators
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