Historically, by the Glass Steagall Act of 1933, the U.S.
financial system has been distinguished from financial systems in
other developed countries by the:
a. Segmentation of securities into both debt securities and
equity securities
b. Segmentation of banking, underwriting, and insurance
activities
c. Integration of banking, underwriting, and insurance
activities within single financial institutions
d. Existence of regulations
e. Use of currency