The OFR proposes to amend Rule 69U-100.323, Florida Administrative Code, to conform with and implement HB 989, which was enacted on May 2, 2024.

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

RULE NO.:RULE TITLE:

69U-100.323Attestation of Compliance

PURPOSE AND EFFECT: The OFR proposes to amend Rule 69U-100.323, Florida Administrative Code, to conform with and implement HB 989, which was enacted on May 2, 2024.

SUMMARY: The rule will be amended to reincorporate Form OFR-U-323 and require all financial institutions, as that term is defined by s. 655.005, Florida Statutes, to use Form OFR-U-323 to attest to their compliance with section 655.0323(1) and (2), Florida Statutes.

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.

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: 655.0323(3)

LAW IMPLEMENTED: 655.0323(3)

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Ann Michelle Palecki, Office of the General Counsel, [phone], [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69U-100.323 Attestation of Compliance.

(1) Each financial institution, as defined in s. 655.005, Florida Statutes, subject to the financial institutions codes must attest, under penalty of perjury, whether the entity is acting in compliance with section 655.0323(1) and (2), Florida Statutes. Such institutions shall attest by completing and submitting Form OFR-U-323, Attestation of Compliance, effective XX-XXXX 08-2023, herein incorporated by reference and available at https://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX15705 and on the Office’s OFR’s website, www.flofr.gov, to the Office OFR by July 1 of each year.

(2)  Filings required by this rule shall be submitted to the Office OFR by mail or email as follows:

Division of Financial Institutions

Office of Financial Regulation

200 East Gaines Street

Tallahassee, Florida 32399-0371

or

[e-mail]

Rulemaking Authority 655.0323(3), FS. Law Implemented 655.0323(3), FS. History-New 8-3-23, Amended X-X-XXXX.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Russell Weigel III, Commissioner, Office of Financial Regulation

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: 6/12/2024

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: 5/6/2024