Brown Brothers Harriman & Co; The Office of Financial Regulation (Financial Institutions/Securities) received a petition for declaratory statement from Brown Brothers Harriman & Co. The petition sought a declaratory statement from the Office on ...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

NOTICE IS HEREBY GIVEN that The Florida Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Brown Brothers Harriman & Co on March 28, 2017. The following is a summary of the agency’s disposition of the petition:

The Office of Financial Regulation (Financial Institutions/Securities) received a petition for declaratory statement from Brown Brothers Harriman & Co. The petition sought a declaratory statement from the Office on whether Petitioner, as a bank authorized to do business in the State of Florida, BBH is exempt from registration with the Office as a dealer pursuant to Chapter 517, Florida Statutes (“Chapter 517”). On June 2, 2017, the Office issued a Final Order. Petitioner is a “bank” as that term is used and referenced in Chapter 517, FS; and Petitioner qualifies for the exemptions from registration as a "dealer" as provided in Section 517.021(6)(b)2., FS, and as an investment advisor as provided in Section 517.021(14)(b)3, FS and therefore, Petitioner is not required to obtain broker-dealer or investment adviser registration 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 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], [e-mail].