Which of the following statements is TRUE about sales of new issues under the Securities Exchange Act of 1934?
A) Credit may be used in purchasing new issues.
B) Installment payments are allowed on purchases.
C) The SEC determines what issues may be purchased on margin.
D) The use of credit to purchase new issues is prohibited for the first 30 days.
Answer: D) The use of credit to purchase new issues is prohibited for the first 30 days.