Wells Fargo Advisors, LLC on May 16, 2016.; The petition seeks a declaratory statement from the Office on whether, (Petitioner would be in compliance Section 494.001(17), Florida Statutes, (the "Amended Act") if Petitioner were to start compensating ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has received the petition for declaratory statement from Wells Fargo Advisors, LLC on May 16, 2016. The petition seeks the agency’s opinion as to the applicability of Statute 494.001(17), Florida Statutes, as it applies to the petitioner.

The petition seeks a declaratory statement from the Office on whether, (Petitioner would be in compliance Section 494.001(17), Florida Statutes, (the “Amended Act”) if Petitioner were to start compensating Financial Advisors for the Limited Intercorporate Activities (“as described in the Petition”) if those Financial Advisors are not licensed as loan originators).

A copy 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], [e-mail]

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail] by June 3, 2016.