62 “A corporation offering and selling its securities to the public has to file a registration statement with the
competent authority. The registration statement automatically becomes effective 20 days after it is filed
with the competent authority, at which point the issuer is free to sell the registered securities to the public.
However, the competent authority has certain powers to delay or suspend the effectiveness of the
registration statement if it appears that the statement is on its face incomplete or inaccurate in any material
respect.” Based on the above description, which of the following is not a part of the securities registration
process?
(A)Discuss the terms of the offering with the competent authority.
(B)Prepare the registration statement by the issuer.
(C)File the registration statement with the competent authority.
(D)Wait for a certain period of time before the registration statement becomes effective.
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