---
kind: "section"
citation: "17 C.F.R. § 3.45"
title: "17"
number: "3.45"
heading: "Restrictions upon activities."
url: "https://uscodex.org/cfr/17/3.45"
---

# §3.45. Restrictions upon activities.

- (a) Subject to the provisions of [§ 3.46](/cfr/17/3.46.md) of this subpart and all of the obligations imposed on such registrants under the Act (in particular, [section 14](/cfr/17/14.md) thereof) and the rules, regulations and orders thereunder, an applicant for registration as an introducing broker who has received written notification that a temporary license has been granted may act in the capacity of a guaranteed introducing broker.
- (b) An applicant for registration as an introducing broker who has received a temporary license may be guaranteed by a futures commission merchant or retail foreign exchange dealer other than the futures commission merchant or retail foreign exchange dealer which provided the initial guarantee agreement described in [§ 3.44(a)(1)](/cfr/17/3.44.md?p=a-1) of this subpart: Provided, That, at least 10 days prior to the effective date of the termination of the existing guarantee agreement in accordance with the provisions of [§ 1.10 (j)(5)](/cfr/17/1.10.md?p=j-5) of this chapter, or such other period of time as the National Futures Association may allow for good cause shown, the applicant files with the National Futures Association—
  - (1) Written notice of such termination and
  - (2) A new guarantee agreement with another futures commission merchant or retail foreign exchange dealer effective the day following the last effective date of the existing guarantee agreement.

## Notes

### Amendments

[51 FR 45761, Dec. 22, 1986, as amended at 75 FR 55427, Sept. 10, 2010]

### Authority

Authority: 5 U.S.C. 552, 552b; 7 U.S.C. 1a, 2, 6a, 6b, 6b-1, 6c, 6d, 6e, 6f, 6g, 6h, 6 i, 6k, 6m, 6n, 6 o, 6p, 6s, 8, 9, 9a, 12, 12a, 13b, 13c, 16a, 18, 19, 21, and 23.

### Source

Source: 45 FR 80491, Dec. 5, 1980, unless otherwise noted.

### Amendments

[51 FR 45761, Dec. 22, 1986, as amended at 75 FR 55427, Sept. 10, 2010]