Intermediary registration eligibility requires complete, truthful applications, fit-and-proper status, qualified officers, and protection of investor and market interests.

Certificate applications may be rejected with written reasons if incomplete, non-conforming, lacking requested information, or containing incorrect, false or misleading information, or if eligibility, fit-and-proper status, or required principal-officer qualifications or experience are absent. Applicants must ordinarily receive written time to cure deficiencies. Where false or misleading information causes rejection, that opportunity may be withheld and a fresh certificate application under these or other regulations is barred for one year.

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