In users > options we have Allow User Registration disabled.
In the Login module it has:
This module displays a username and password login form. It also displays a link to retrieve a forgotten password. If user registration is enabled (in User Manager > Options), another link will be shown to enable self-registration for users
However, the Sign up link is still appearing...
https://www.dropbox.com/s/lg9c3o6n7k1aa ... 2.png?dl=0
Cache is cleared etc. etc.