Answer: Financial reforms were crucial to the New Deal and ending the Depression. The Securities Act of 1933 was passed to attempt to regulate Wall Street and lessen fraudulent activities with securities in the hopes of avoiding another stock market crash.
Explanation: Financial reforms were crucial to the New Deal and ending the Depression. The Securities Act of 1933 was passed to attempt to regulate Wall Street and lessen fraudulent activities with securities in the hopes of avoiding another stock market crash. The Banking Act of 1933, meanwhile, was further implementing banking regulations, this time invoking separation of investment banking and commercial banking and creating the Federal Deposit Insurance Corporation (FDIC) as part of the Glass-Steagall Act.
