Brown Brothers Harriman & Co., (BBH); The Petition requested the Office of Financial Regulation to determine whether, according to the facts presented, Petitioner was a "bank authorized to do business in this state" and therefore exempt from ...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Brown Brothers Harriman & Co., (BBH) on March 2, 2016. The following is a summary of the agency’s disposition of the petition:

The Petition requested the Office of Financial Regulation to determine whether, according to the facts presented, Petitioner was a “bank authorized to do business in this state” and therefore exempt from registration as a dealer and investment adviser under Chapter 517, Florida Statutes. On May 26, 2016, a Final Order was issued. Petitioner is not a “bank” as that term is used and referenced in Chapter 517, Florida Statutes. THEREFORE, Petitioner does not qualify for the exemptions from registration as a “dealer” as provided in Section 517.021(6)(b)2., Florida Statutes, or as an “investment adviser” as provided in Section 517.021(14)(b)3., Florida Statutes, and Petitioner must obtain or maintain appropriate licensure pursuant to Chapter 517, Florida Statute, to engage in the activities authorized for a dealer or investment adviser in the State of Florida.

A copy of the Order Disposing 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] or online:

https://real.flofr.com/ConsumerServices/SearchLegalDocuments/LDSearch.aspx#/searchLegalDocuments.