StacksVerified U.S. regulatory reference

17 CFR §3.47

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
  1. (a)A temporary license shall not be deemed to be a registration or to confer any right to such registration.
  2. (b)Unless a temporary license has terminated, a temporary license shall become a registration upon the earlier of:
    1. (1)A determination by the National Futures Association that the applicant is qualified for registration as an introducing broker; or
    2. (2)The expiration of six months from the date of issuance unless a notice has been issued under § 3.60 of the initiation of a proceeding to deny registration under sections 8a(2) or 8a(3) of the Act.