---
kind: "section"
citation: "17 C.F.R. § 3.47"
title: "17"
number: "3.47"
heading: "Relationship to registration."
url: "https://uscodex.org/cfr/17/3.47"
---

# §3.47. Relationship to registration.

- (a) A temporary license shall not be deemed to be a registration or to confer any right to such registration.
- (b) Unless a temporary license has terminated, a temporary license shall become a registration upon the earlier of:
  - (1) A determination by the National Futures Association that the applicant is qualified for registration as an introducing broker; or
  - (2) The expiration of six months from the date of issuance unless a notice has been issued under [§ 3.60](/cfr/17/3.60.md) of the initiation of a proceeding to deny registration under sections [8a(2)](/cfr/17/8a.md?p=2) or [8a(3)](/cfr/17/8a.md?p=3) of the Act.

## Notes

### Amendments

[51 FR 45761, Dec. 22, 1986, as amended at 58 FR 19595, Apr. 15, 1993]

### 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 58 FR 19595, Apr. 15, 1993]