登录之后可查看解析

A is corrent. In order to provide the public with important information about securities, issuers are required under the Securities Act of 1933 to provide investors with a prospectus before or with the sale of securities. The Act provides for criminal penalties as well as civil liability if the issuer fails to provide the prospectus.
B is incorrect. The registration becomes effective 20 days after filing but the SEC may issue a stop order if the registration statement appears incomplete or misleading.
C is incorrect. The issuer cannot sell the securities prior to the effective registration date which is at least 20 days after the filing.
D is incorrect. The purpose of the Act is to provide the investors with full and fair disclosure. An offering approved by the SEC does not imply that the SEC has evaluated the financial merits of the securities offered.