Moderate all new user registrations...
New users will not be able to login or reset their password until they have been authorized by an administrator from the Unverified Users Page. If both verification options are enabled, users will not be able to login until an administrator authorizes them, regardless of whether they complete the email verification process.
The following message will be shown to users after registering (or verifying their email if both verification options are enabled). You may include HTML in this message.