[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR3.45]

[Page 142]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 3_REGISTRATION--Table of Contents
 
                      Subpart B_Temporary Licenses
 
Sec.  3.45  Restrictions upon activities.

    (a) Subject to the provisions of Sec.  3.46 of this subpart and all 
of the obligations imposed on such registrants under the Act (in 
particular, section 14 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 other than the futures commission merchant which provided the 
initial guarantee agreement described in Sec.  3.44(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 Sec.  1.10 (j)(4)(ii) or (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 effective 
the day following the last effective date of the existing guarantee 
agreement.

[51 FR 45761, Dec. 22, 1986]