The purpose and effect is to amend the existing rule to remove securities manuals published by Standard & Poor’s Financial Services LLC from the list of recognized securities manuals.

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-500.010Recognized Manuals of Securities

PURPOSE AND EFFECT: The purpose and effect is to amend the existing rule to remove securities manuals published by Standard & Poor’s Financial Services LLC from the list of recognized securities manuals.

SUMMARY: The proposed amended rule removes securities manuals published by Standard & Poor’s Financial Services LLC from the list of recognized securities manuals.

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.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein:

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: 517.03(1) FS.

LAW IMPLEMENTED: 517.061(20)(d) 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: Ryann White, Division of Securities [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69W-500.010 Recognized Manuals of Securities.

The following publications are hereby approved as recognized securities manuals: Securities manuals published by Mergent, Inc., and all commonly recognized formats of Mergent’s Manuals, including CD-ROM and electronic dissemination over the Internet and securities manuals published by Standards & Poor’s Financial Services LLC.

Rulemaking Authority 517.03(1) FS. Law Implemented 517.061(20)(d) FS. History–(Formerly 3E-20.21), New 9-20-82, Formerly 3E-500.10, Amended 7-31-91, 5-10-00, Formerly 3E-500.010, Amended                           .

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Alisa G. Goldberg, Director, Division of Securities

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

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 22, 2020

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 28, 2020