Which statement regarding the underwriting process and over-the-counter (OTC) markets is CORRECT?

A: Corporations must have their shares listed both on an exchange and the OTC market during the underwriting process. B: During the underwriting process investment bankers raise investment capital from investors on behalf of corporations and governments issuing securities. C: Many new stock issues that are underwritten by securities firms are first listed on a stock exchange before they are sold over-the-counter. D: The disclosure standards for stock exchanges are not as stringent as those imposed by the OTC market.