CONCEPT REVIEW: Companies frequently need to raise money to expand. To do this, corporations often issue corporate securities--stocks and bonds. But a security is simply a piece of paper, it has no intrinsic value. Consequently, without securities regulations, corporations could easily commit fraud by issuing large numbers of securities and then refusing to repay them. Thus, the government heavily regulates securities issuance and trading. Read the tiles below representing different steps in the registration process. Then drag each step to the appropriate location on the timeline. Registration Statement Prefiling Period Red-Herring Prospectus Files a Waiting Period Prospectus SEC Declares Effective Sells all Securities Wants to Issue Securities Posteffective Period Registration of Securities Under The Securities Act Of 1933 Reset