Which of the following statement is true concerning financial regulation in the U.S.?

Which of the following statement is true concerning financial regulation in the U.S.?

I: The U.S. has a reasonably well-regulated commercial banking sector

II: Few innovative financial products are developed apart from existing regulatory oversight

III: Many credit derivatives have been trading apart from adequate regulation and oversight

A: I & II only

B: I & III only

C: II & III only

D: I, II, & III