Published on: 22399839. Application for Registration as a Dealer (FINRA), Application for Registration as a Dealer (Non-FINRA), Application for Registration as an Issuer/Dealer, Application for Registration as an Investment Adviser (State Registered), Application for Registration as Associated Person (FINRA Dealer), Application for Registration as an Associated Person (Non-FINRA Dealer), Application for Registration as an Associated Person (Issuer/Dealer), Application for Registration as an Associated Person (Investment Adviser and Federal Covered Advisor)
Published on: 22252787. The purpose and effect is to amend the existing rules to incorporate by reference the current versions of forms and other materials incorporated by reference, to incorporate, in relevant part, the contents of and remove cross-reference to Rule 69W-301.002, Florida Administrative Code (F.A.C.), to include the Securities Industry Essentials (SIE) exam (a new exam required for registration with the Financial Industry Regulatory Authority (FINRA)) where applicable, to incorporate section 248.30 of Regulation S-P (17 C.F.R. §248.30) into the book and record requirements for dealers, as well as, to make the violation of the same a prohibited business practice, to repeal Rule 69W-600.020, F.A.C., to update cross-references, and to enhance clarity throughout the chapter.
Published on: 22020472. The purpose and effect is to amend the existing rules to incorporate by reference the current versions of forms and other materials incorporated by reference, to incorporate, in relevant part, the contents of and remove cross-reference to Rule 69W-301.002, Florida Administrative Code (F.A.C.), to include the Securities Industry Essentials (SIE) exam (a new exam required for registration with the Financial Industry Regulatory Authority (FINRA))where applicable, to incorporate section 248.30 of Regulation S-P (17 C.F.R. §248.30) into the book and record requirements for dealers, as well as, to make the violation of the same a prohibited business practice, to repeal Rule 69W-600.020, F.A.C., to update cross-references, and to enhance clarity throughout the chapter.
Published on: 17839481. The Office proposes to amend Rules 69W-600.012, .013, .0131, and .014, F.A.C., to update references to repealed rules. Additionally, the Office proposes to amend Rule 69W-600.014, F.A.C., in order to amend recordkeeping requirements for investment advisers and their associated persons, to add a requirement for investment advisers to maintain a copy of each invoice the investment adviser sends to its clients each time an advisory fee is deducted from clients’ accounts; remove superfluous rule language; and add a requirement for investment advisers and associated persons to preserve for the life of the client’s account, and not less than 5 years after the closing of the client’s account, a copy of investment advisory agreements and the written information about each investment advisory client that is the basis for making any recommendation or providing any investment advice to such client. Lastly, the Office proposes to amend Rule 69W-600.0131, F.A.C., in order to add “charging a customer an advisory fee greater than the amount authorized in the written investment advisory contract between the customer and the investment advisor” as a prohibited business practice for investment advisers and their associated persons. This amendment will give the Office enforcement authority over advisers who are over-charging customers.
Published on: 17837250. Synovus Securities, Inc.; (1) The petition sought the agency's opinion as to the applicability of 69W-600.013(2)(f) (2014), FAC, FINRA Rule 2040(a) and FINRA Rule 2040(a) as it applies to the petitioner and (2) the Petition sought a declaratory statement from the Office regarding the ability to share commissions in accordance with FINRA Rule 2040(b) and is requesting an exemption from Florida's prohibition under paragraph 69W-600.013(2)(f), FAC, consistent with the FINRA exception Rule 2040(b).
On August 1, 2016, the Office issued a Final Order.
(1) Petitioner is not prohibited by rule or statute from creating a "continuing commissions" plan that would enable its Registered Representatives to continue to receive commissions after their retirement from employment with Petitioner; and (2) Petitioner is not required to obtain an exemption from Rule 69W-600.013(2)(f), Florida Administrative Code.
Published on: 16668788. Application for Registration as a Dealer (non-FINRA), Application for Registration as an Issuer/Dealer, Application for Registration as an Investment Adviser (State Registered), Notice-Filing for Federal Covered Advisers, Application for Registration as an Associated Person (Non-FINRA Dealer), Application for Registration as an Associated Person (Issuer/Dealer), Application for Registration as an Associated Person (Investment Adviser), Notice-Filing of Branch Office (FINRA Dealer), Notice-Filing of Branch Office (Non-FINRA Dealer), Notice Filing of Branch Office (Issuer/Dealer), Notice-Filing of Branch Office (Investment Adviser)