{"data":{"id":"us/17-cfr-3.47","jurisdiction":"us","citation":"17 CFR 3.47","heading":"Relationship to registration.","body":"(a) A temporary license shall not be deemed to be a registration or to confer any right to such registration.\n(b) Unless a temporary license has terminated, a temporary license shall become a registration upon the earlier of:\n(1) A determination by the National Futures Association that the applicant is qualified for registration as an introducing broker; or\n(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.","path":["Title 17—Commodity and Securities Exchanges","CHAPTER I—COMMODITY FUTURES TRADING COMMISSION","PART 3—REGISTRATION","Subpart B—Temporary Licenses"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-17.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:31Z","sha256":"ba5799c31917ac3239facc5979019f799e5f854a1241662ac41e9a29944b00f9","source_id":"us-cfr","stale":true,"prev":"us/17-cfr-3.46","next":"us/17-cfr-3.50"},"notice":"GroundRules: Original legal text. Not legal advice."}