Wells Fargo Advisors, LLC.; The petition seeks a declaratory statement from the Office on whether (the Limited Activities conducted by Petitioner and the Financial Advisors in the course of Petitioner's securities-related business require either ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has declined to rule on the petition for declaratory statement filed by Wells Fargo Advisors, LLC., on August 26, 2015. The following is a summary of the agency’s declination of the petition:

The petition seeks a declaratory statement from the Office on whether (the Limited Activities conducted by Petitioner and the Financial Advisors in the course of Petitioner’s securities-related business require either Petitioner or the Financial Advisor to obtain mortgage broker and loan originator licensing), Florida Mortgage Brokerage and Mortgage Lending Act, Chapter 494, Florida Statutes, In the instant matter a declaratory statement is not available to Petitioner because Petitioner is seeking a determination as to acts which have already occurred, or which are now occurring. Any further analysis is unnecessary and the Office therefore makes no determination regarding the merits of Petitioner's arguments. Therefore, Wells Fargo Advisors, LLC’s Petition for Declaratory Statement is DENIED.

A copy of the Order Declining of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone] or online at https://real.flofr.com/ConsumerServices/SearchLegalDocuments/LDSearch.aspx#/searchLegalDocuments.

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone].