The purpose of the rule is to establish the organizational structure of the Office of Financial Regulation as required by Section 20.121(3)(b), F.S.

DEPARTMENT OF FINANCIAL SERVICES
Indexing Agency Orders

RULE NO: RULE TITLE
69T-1: Organizational Structure of the Office of Financial Regulation
69T-1.001: Organizational Structure
PURPOSE AND EFFECT: The purpose of the rule is to establish the organizational structure of the Office of Financial Regulation as required by Section 20.121(3)(b), F.S.
SUMMARY: The rule establishes the organizational structure of the Office of Financial Regulation.
SUMMARY OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
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.
SPECIFIC AUTHORITY: 20.121(3)(b) FS.
LAW IMPLEMENTED: 20.121(3)(b), 20.055(2) FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Andrea Moreland, Executive Senior Attorney, Office of Financial Regulation, Room 118K, Fletcher Building, 200 East Gaines Street, Tallahassee, Florida 32399-0370, Telephone: [phone], e-mail: [e-mail].

THE FULL TEXT OF THE PROPOSED RULE IS:

69T-1.001 Organizational Structure.

(1) The following organizational units are established in the Office of Financial Regulation:

(a) Office of Inspector General.

(b) Office of Legal Services.

(c) Division of Financial Institutions, which shall include the following bureaus:

1. Bureau of Bank Regulation District I.

2. Bureau of Bank Regulation District II.

3. Bureau of Credit Union Regulation.

(d) Division of Securities, which shall include the following bureaus:

1. Bureau of Securities Regulation.

2. Bureau of Regulatory Review.

(e) Division of Finance, which shall include the following bureaus:

1. Bureau of Finance Regulation.

2. Bureau of Regulatory Review.

3. Bureau of Money Transmitter Regulation.

(f) Bureau of Financial Investigations as required by s. 20.121(3)(a)2., F.S.

(2) There is established under the Director of the Office of Financial Regulation the position of assistant director. The assistant director will aid the director in fulfilling the director’s statutory obligations. The director may be known as the Commissioner of Financial Regulation and the assistant director may be known as the Deputy Commissioner of Financial Regulation.

(3) The Office of Inspector General shall be headed by an inspector general.

(4) The Office of Legal Services shall be headed by a general counsel.

(5) Each division shall be headed by a director.

(6) Each bureau shall be headed by a chief.

Specific Authority 20.121(3)(b) FS. Law Implemented 20.121(3)(b), 20.055(2) FS. History–New_______.

NAME OF PERSON ORIGINATING PROPOSED RULE: Don B. Saxon, Commissioner
NAME OF SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Financial Services Commission
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: October 17, 2006
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: October 6, 2006