The proposed rule amendments will repeal the rules. The Office identified the rules as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. Rule 69W-301.001, F.A.C., describes the ...

DEPARTMENT OF FINANCIAL SERVICES
Securities

RULE NO.: RULE TITLE:
69W-301.001: Scope
69W-301.003: Right to Hearing
PURPOSE AND EFFECT: The proposed rule amendments will repeal the rules. The Office identified the rules as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. Rule 69W-301.001, F.A.C., describes the scope of the rule chapter, which is unnecessary. Rule 69W-301.003, F.A.C., is unnecessary because the procedures for requesting a hearing are already addressed under the Uniform Rules of Procedure. See Rule 28-106.111, F.A.C.
SUMMARY: The proposed rule amendments will repeal the rules. The Office identified the rules as unnecessary as the result of the comprehensive rule review that it undertook pursuant to Sections 120.74 and 120.745, F.S. Rule 69W-301.001, F.A.C., describes the scope of the rule chapter, which is unnecessary. Rule 69W-301.003, F.A.C., is unnecessary because the procedures for requesting a hearing are already addressed under the Uniform Rules of Procedure. See Rule 28-106.111, F.A.C.
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: 1) No requirement for a SERC was triggered under Section 120.541(1); and (2) the proposed changes will not exceed any one of the economic analysis criteria in a SERC, as set forth in Section 120.541(2)(a), F.S.
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: 120.57, 120.60, 517.081, 517.082, 517.12, 517.241(1) FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Rob Vandiver, Chief Counsel, Division of Securities, [phone], [e-mail]

THE FULL TEXT OF THE PROPOSED RULE IS:

69W-301.001 Scope.

These rules contain procedures related to actions taken by the Office of Financial Regulation, in connection with its responsibility to process applications pursuant to Chapter 517, F.S.

Rulemaking Authority 517.03(1) FS. Law Implemented 517.081, 517.12 FS. History–New 9-20-82, Formerly 3E-301.01, 3E-301.001, Repealed_________.

 

69W-301.003 Right to Hearing.

Should the Office of Financial Regulation refuse to grant the license, the Office of Financial Regulation shall notify the applicant of this decision stating the grounds for denial. The applicant aggrieved by such a refusal shall be entitled to an administrative hearing upon filing a written request for such a hearing. Procedures for requesting such hearing appear in Rules 28-106.201 and 28-106.301, F.A.C.

Rulemaking Authority 517.03(1) FS. Law Implemented 120.57, 120.60, 517.081, 517.082, 517.12, 517.241(1) FS. History–New 9-20-82, Formerly 3E-301.03, Amended 7-31-91, 6-22-98, Formerly 3E-301.003, Amended 9-30-10, Repealed_________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Pam Epting, Director, Division of Securities
NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 20, 2012