(a) Within 30 calendar days after the date of receipt of a BGC 200 or BGC 201 registration application, the Bureau shall either inform the registrant, in writing, that the application is complete and accepted for filing, or shall return the application as deficient and specify how the application is deficient and what additional information is required. If an application is returned because it is deficient, any fee submitted shall also be returned.

(b) Within 30 calendar days after the date of receipt of a completed BGC 200 or BGC 201 registration application, including the required fee, the Bureau shall reach a decision whether to issue or deny the registration, unless the time is waived by the registrant, and shall inform the registrant in writing of the decision.