The proposed amendment to Rule 69V-560.302, F.A.C., requires applicants for renewal of Money Service Business (MSB) licensure to submit a nonrefundable fee, on or after October 1, 2013, of $12.00 for each person currently listed in the records of ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

RULE NO.:RULE TITLE:

69V-560.302 Renewal Fees, Deadlines, and Requirements

PURPOSE AND EFFECT: The proposed amendment to Rule 69V-560.302, F.A.C., requires applicants for renewal of Money Service Business (MSB) licensure to submit a nonrefundable fee, on or after October 1, 2013, of $12.00 for each person currently listed in the records of the Office in question 5G of the application for licensure as a MSB, OFR-560-01, to cover the cost of fingerprint retention. Failure to remit the $12.00 fingerprint retention fee and the renewal fee prescribed in Section 560.141(2), F.S., by the license expiration date will automatically result in the license becoming expired. The proposed amendment also requires licensees to submit live-scan processing fingerprints to a live-scan vendor approved by the Florida Department of Law Enforcement for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Service Business, OFR-560-01, as required by Section 560.141(7), F.S. The proposed amendment allows the Office of Financial Regulation to request additional information and documentation regarding the criminal background results and such information must be received by the Office within 45 days from the date of request.

SUMMARY: The proposed amendment requires applicants for licensure for renewal as a Money Service Business (MSB) to submit a nonrefundable fee of $12.00 for each person currently listed in the records of the Office in question 5G of the application for licensure as a MSB, form OFR560-01, to cover the cost of fingerprint retention.

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: 560.105 FS.

LAW IMPLEMENTED: 560.143 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-560.302 Renewal Fees, Deadlines, and Requirements.

(1) Chapter 560, F.S., licenses must be renewed in accordance with the provisions of Section 560.142, F.S.

(2) Licensees initially approved on or after October 1, 2013, shall submit a nonrefundable fee of $12.00 for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, to cover the costs of fingerprint retention. Failure to remit renewal fees as prescribed in Section 560.141(2), F.S., and fingerprint retention fees as required in this paragraph by the license expiration date will automatically result in the license becoming expired. An expired license may be reinstated within 60 days following expiration pursuant to Section 560.142, F.S.

(3)(a) Licensees initially approved before October 1, 2013, shall submit fingerprints for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, for live-scan processing pursuant to 560.141(7), F.S. Such fingerprints must be submitted before renewing a license that is scheduled to expire between April 30, 2014, and December 31, 2015. The Office shall screen the background results to determine if the licensee meets licensure requirements. The Office may request additional information and documentation regarding the criminal background results. Any request for additional information must be received by the Office within forty-five (45) days from the date of the request. For purposes of this paragraph, each of the applicant’s control persons required to submit fingerprints shall submit such fingerprints to a live-scan vendor approved by the Florida Department of Law Enforcement and 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) for submission to the Florida Department of Law Enforcement and the Federal Bureau of Investigation for a state criminal background check and 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.

(b) Licenses renewed pursuant to paragraph (a) shall submit a nonrefundable fee of $12.00 for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, to cover the costs of fingerprint retention. This requirement applies to licensees renewing licenses that expire on or after April 1, 2016 that were approved before October 1, 2013. Failure to remit renewal fees as prescribed in Section 560.141(2), F.S., and fingerprint retention fees as required in this paragraph by the license expiration date will automatically result in the license becoming expired. An expired license may be reinstated within 60 days following expiration pursuant to Section 560.142, F.S.

(4)(2) If any date established in accordance with Section 560.142, F.S., falls on a Saturday, Sunday, or legal holiday pursuant to Section 110.117, F.S., the required renewal fees and any applicable late fees must be received by the Office by the close of business on the next business day.

Rulemaking Specific Authority 560.105 FS. Law Implemented 560.142, 560.403 FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.302, Amended 7-15-07, 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