Published on: 15564443. The Office proposes to repeal current financial reporting rules 69W-300.002 and 69W-600.015 and net capital rule 69W-600.016, to be replaced by proposed new consolidated net capital/financial reporting rules in 69W-600.0151 and 69W-600.0161 for dealers/issuer-dealers and investment advisers, respectively. The purpose and effect of these changes are to remove outdated requirements, implement clearer requirements as to financial reporting and calculation of net capital, and improve rule organization by consolidating rules on the same subject while creating separate rules by registration type.
Published on: 15344350. Proposed amendments to Rules 69W-200.002, 400.002, 500.011, 600.0131, 600.0132, 600.014, and 1000.001; proposed repeal of rules 69W-300.002, 600.015, and 600.016; and proposed creation of new rules 69W-600.0151 and 600.0161. The proposed rules relate generally to updated financial reporting, custody, recordkeeping, and compliance procedures and practices requirements for Florida state-registered investment advisers.; December 18, 2014, 1:30 p.m.; Room B103, Office of Financial Regulation, 200 East Gaines Street, Fletcher Building, Tallahassee, FL 32399.
Published on: 15277032. The Office proposes to amend rules 69W-600.0131, .0132, and .014; repeal rules 69W-600.015 and .016, and create new rules 69W-600.0151 and .0161. Rule 600.0131 is proposed to be amended to require Florida state registered investment advisers to comply with SEC Rules 204-1 and 206(4)-7, which currently require federal covered advisers to, among other things, annually file amendments to their registration form (Form ADV) and adopt and implement compliance procedures and practices, respectively. The Office proposes to amend Rule 600.0132 relating to custody requirements for investment advisers to conform the current rule more closely with the NASAA model rule, including adding a requirement for investment advisers with custody who do not meet certain exceptions to have an annual independent verification of client funds and securities. Rule 69W-600.014 is proposed for amendment to add certain recordkeeping requirements for investment advisers who inadvertently hold or obtain client securities or funds, in accordance with NASAA model rules. Finally, the Office proposes to repeal current financial reporting rules 69W-300.002 and 69W-600.015 and net capital rule 69W-600.016, to be replaced by proposed new consolidated net capital/financial reporting rules in 69W-600.0151 and 69W-600.0161 for dealers/issuer-dealers and investment advisers, respectively. The purpose and effect of these changes are to remove outdated requirements, implement clearer requirements as to financial reporting and calculation of net capital, and improve rule organization by consolidating rules on the same subject while creating separate rules by registration type.
Published on: 14896889. This is the Final Public Hearing on the adoption of proposed amendments to these rules, originally published on May 19, 2014, Vol. 40, No. 97, Florida Administrative Register and revised in subsequent Notices of Change.; August 19, 2014, 9:00 a.m., during a regular meeting of the Financial Services Commission.; Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida.
Published on: 14666611. Fingerprint Requirements, Rules of Conduct, Prohibited Business Practices for Dealers and Their Associated Persons, Prohibited Business Practices for Investment Advisers and Their Associated Persons, Custody Requirements for Investment Advisers, Use of Senior - Specific Certifications and Professional Designations by Associated Persons and Investment Advisers, Books and Records Requirements, Financial Reporting Requirements - Statement of Financial Condition - Dealers and Investment Advisers, Net Capital Requirements for Dealers and Investment Advisers, Customer Protection Rule - Reserve Requirements and Custody of Customer Funds and Securities, Continuing Education Requirements
Published on: 14550211. The rules are proposed for amendment to: update references to incorporated material; correct cross-references; adopt FINRA 3240 in whole in Rule 69W-600.013 (previously adopted only in part); adopt MSRB Definitional Rules D-13, D-14, G-42, and G-43; adopt appendices E, F, and G to SEC Rule 15c3-1 in Rule 69W-600.016; and adopt Exhibit A of SEC Rule 15c3-3 in Rule 69W-600.017. The Office of Financial Regulation proposes to consolidate all material incorporated by reference in Chapter 69W, F.A.C. into a new proposed rule 69W-200.002, F.A.C. that conforms with Section 120.54(1)(i), F.S. The proposed amendments would reference 69W-200.002, F.A.C., where the material can be accessed via the FAR.