The proposed amendment to Rule 69V-560.102, F.A.C., requires applicants for licensure as a money service business to submit fingerprints through a live-scan vendor approved by the Florida Department of Law Enforcement (FDLE). These fingerprints will ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

RULE NO.:RULE TITLE:

69V-560.102Application or Appointment Procedures and Requirements

PURPOSE AND EFFECT: The proposed amendment to Rule 69V-560.102, F.A.C., requires applicants for licensure as a money service business to submit fingerprints through a live-scan vendor approved by the Florida Department of Law Enforcement (FDLE). These fingerprints will be submitted to the FDLE for a state criminal background check and the Federal Bureau of Investigation for a Federal criminal background check. The proposed amendment also removes the requirement for applicants to submit a written request for withdrawal of application and instead must submit the request through the Office of Financial Regulation REAL system.

SUMMARY: The proposed rule amendment requires applicants for licensure as a money service business to submit fingerprints though a live-scan vendor approved by the Florida Department of Law Enforcement.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the agency.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 215.405, 560.105, 560.118, 560.209, 560.403 FS.

LAW IMPLEMENTED: 560.141 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Jo Morris, [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69V-560.102 Application or Appointment Procedures and Requirements.

(1) Applications for money service business licenses must be made in accordance with the provisions of Sections 560.140, 560.141, and 560.143, F.S. Further, application for a money services business license involving payment instrument sales or money transmission must also comply with Section 560.205, F.S. The application form for applying hereunder is Application for Licensure as a Money Services Business, OFR-560-01, which is incorporated by reference in Rule 69V-560.1012, F.A.C.

(2) Each person listed in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, must submit fingerprints through a live-scan vendor approved by the Florida Department of Law Enforcement. A list of approved vendors is published on the Florida Department of Law Enforcement’s website (http://www.fdle.state.fl.us/Content/getdoc/941d4e90-131a-45ef-8af3-3c9d4efefd8e/Livescan-Service-Providers-and-Device-Vendors.aspx). Such fingerprints will be submitted to the Florida Department of Law Enforcement for a state criminal background check and the Federal Bureau of Investigation for a Federal criminal background check. The cost of the fingerprinting process shall be borne by the applicant and paid directly to the live-scan vendor.

(3)(2) Request for Additional Information. Any request for additional information will be made by the Office within thirty (30) days after receipt of the application. The additional information must be received by the Office within forty-five (45) days from the date of the request. Failure to provide all information within forty-five (45) days from the date of the request will result in the Office denying the application.

(4)(3) Withdrawal of Application. An application may be withdrawn if the applicant submits a written request through the REAL system for same before the application is approved or denied.

(5)(4) Amendments to Pending Applications. If the information contained in any application form for licensure as a money services business, or in any amendment thereto, becomes inaccurate for any reason, the applicant shall file an amendment correcting such information within thirty (30) days of the change on Form OFR-560-01, which is incorporated by reference in Rule 69V-560.1012, F.A.C. An applicant may amend the application as to those factors generally within the control or selection of the applicant once, as a matter of course, at any time within thirty (30) days from receipt of the application by the Office. Otherwise, the application may be amended only with prior written permission from the Office. The Office will grant permission to amend the application, unless the amendment constitutes a material change to the application. Requests to make changes which are material to the application will be deemed by the Office to be grounds for denial, and a new application, accompanied by the appropriate filing fee, will be required. Material changes include:

(a) Changes in net worth;

(b) The substitution or addition of a director, chief executive officer, chief financial officer, chief operations officer, chief legal officer, chief compliance officer, partner, member, joint venturer, responsible person, or controlling shareholder;

(c) Any change relating to the bond or collateral security item;

(d) A change to a response to the disclosure questions listed in section 6 on Form OFR-560-01; and

(e) A change to disclosure questions listed in section 3 on the biographical summary on Form OFR-560-01.

Rulemaking Specific Authority 215.405, 560.105, 560.118, 560.209, 560.403 FS. Law Implemented 215.405, 560.118, 560.140, 560.141, 560.143, 560.1235, 560.204, 560.205, 560.209, 560.303, 560.307, 560.403, 943.053 FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.102, Amended 7-15-07, 6-17-08, 12-25-08, 1-13-09,__________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Greg Oaks, Director, Division of Finance, [e-mail], [phone]

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 24, 2013

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: September 4, 2013