Which of the following formerly applied to banks,trust companies,stockbrokerages,and insurance companies?

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Historically, banks, trust companies, stock brokerages, and insurance companies were often prohibited from conducting business beyond their specific sector, a regulation aimed at maintaining industry stability and preventing conflicts of interest. This separation was notably embodied in legislation like the Glass-Steagall Act in the United States, which was eventually repealed, leading to more cross-sector financial activities.

Which of the Following Formerly Applied to Banks,trust Companies,stockbrokerages,and Insurance