17 C.F.R. § 3.46 Termination.
Title 17 - Commodity and Securities Exchanges
(a) A temporary license shall terminate: (1) Five days after service upon the applicant of a notice by the National Futures Association that the applicant for registration may be found subject to a statutory disqualification from registration; (2) Immediately upon termination of the applicant's guarantee agreement in accordance with §1.10(j)(4)(ii) or (j)(5) of this chapter, unless a new guarantee agreement is filed in accordance with §3.45(b); (3) Immediately upon the failure of an applicant to respond to a written request by the Commission or the National Futures Association for clarification of information set forth in the application of the applicant or any principal (including any branch office manager) thereof or for the resubmission of a fingerprint card pursuant to §3.44(c) in accordance with such request; (4) Immediately upon the revocation or withdrawal of the guarantor futures commission merchant's registration; (5) Immediately upon the withdrawal of the registration application pursuant to §3.44(c); (6) Immediately upon failure to comply with an order to pay a civil monetary penalty, restitution, or disgorgement within the time permitted unders sections 6(e), 6b, or 6c(d) of the Act; (7) Immediately upon failure to pay the full amount of a reparation order within the time permitted under section 14(f) of the Act; (8) Immediately upon failure to comply with an award in an arbitration proceeding conducted pursuant to the rules of a designated contract market, registered derivatives transaction execution facility, or registered futures association within the time specified in section 10(g) of the National Futures Association's Code of Arbitration or the comparable time period specified in the rules of a contract market, registered derivatives transaction execution facility, or other appropriate arbitration forum. (9) Whenever a person not listed as a principal on the applicant's initial registration application becomes a principal under §3.1(a); or (10) Immediately upon notice to the applicant and the guarantor futures commission merchant that: (i) The applicant or any principal (including any branch officer manager) failed to disclose relevant disciplinary history information in response to items 11 through 15 on the applicant's Form 7–R or items 14 through 18 on a principal's Form 8–R; or (ii) An event has occurred leading to an affirmative response to any of items 11 through 15 on the applicant's Form 7–R or items 14 through 18 on a principal's Form 8–R. (b) Upon termination, the applicant may not engage in any activity which requires registration as an introducing broker. [51 FR 45761, Dec. 22, 1986, as amended at 53 FR 8435, Mar. 15, 1988; 58 FR 19595, Apr. 15, 1993; 67 FR 38876, June 6, 2002]
Title 17: Commodity and Securities Exchanges
PART 3—REGISTRATION
Subpart B—Temporary Licenses
§ 3.46 Termination.
