Topics / Suspension and revocation by operation of law

A broker has not filed its triennial status report by March 1 of the reporting year. What is the immediate consequence?

  1. The license is revoked by operation of law on that date
  2. A monetary penalty is assessed and the license is unaffected
  3. The license is suspended by operation of law on that date
  4. The national permit is revoked and the license is unaffected
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C. The license is suspended by operation of law on that date

The license is suspended by operation of law on March 1. It is reinstated if the report is filed and the fee paid within 60 calendar days of the date of the notice of suspension; otherwise it is revoked by operation of law.

Source: 19 CFR 111.30(d)(4)

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