The Office proposes to repeal these rules and replace them with new registration rules under Chapter 517, Florida Statutes, to be separated by registration type. The purpose and effect of these changes are to improve organization and clarity and ...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NOS.:RULE TITLES:

69W-600.003Multiple Registration

69W-600.004Registration of Issuer/Dealers and Principals and Notice-Filing of Branch Offices

69W-600.005Examinations/Qualifications

69W-600.006Fingerprint Requirements

69W-600.007Changes in Name and Successor Registration Requirements

69W-600.008Termination of Registration as Dealer, Investment Adviser, Principal or Agent, or Notification of Branch Office

69W-600.009Registration and Notice-Filing Renewals

69W-600.0091Central Registration Depository System

69W-600.0092Investment Adviser Registration Depository for Federal Covered Advisers

69W-600.0093Investment Adviser Registration Depository for Investment Advisers

69W-600.010Notice of Civil, Criminal or Administrative Action

PURPOSE AND EFFECT: The Office proposes to repeal these rules and replace them with new registration rules under Chapter 517, Florida Statutes, to be separated by registration type. The purpose and effect of these changes are to improve organization and clarity and provide applicants with a single rule containing the requirements for the registration type they are applying for. The proposed 14 registration/notice-filing rules (11 new, 3 amended) will contain provisions of these rules as applicable to each registration type.

SUMMARY: The Office proposes to repeal these rules.

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: The Agency expressly relies on an analysis of potential economic impact conducted by persons with subject matter knowledge of this rule.

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), 517.12, 517.1201, 517.1202 FS.

LAW IMPLEMENTED: 517.12, 517.1201, 517.1202, 517.1205, 517.121, 517.161 FS.

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: John Kim, Division of Securities, [e-mail], [phone]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69W-600.003 Multiple Registration.

Specific Authority 517.03 FS. Law Implemented 120.53, 517.12(1), (4) FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.03, Amended 8-1-91, 5-5-94, 7-31-02, Formerly 3E-600.003, Repealed     .

 

69W-600.004 Registration of Issuer/Dealers and Principals and Notice-Filing of Branch Offices.

Rulemaking Authority 517.03(1), 517.12(6), 517.1202 FS. Law Implemented 517.12(5), (6), (10), 517.1202 FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.04, Amended 10-14-90, 6-16-92, 1-11-93, 11-7-93, 11-14-93, 12-29-96, 10-20-97, 6-10-99, 8-19-99, 5-27-01, 7-31-02, Formerly 3E-600.004, Amended 3-16-06, 5-15-07, 11-22-10, 10-29-12, 11-11-13, Repealed_____.

 

69W-600.005 Examinations/Qualifications.

Rulemaking Authority 517.03(1) FS. Law Implemented 517.12(8) FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.05, Amended 8-1-91, 1-11-93, 4-18-96, 4-2-00, 10-30-03, Formerly 3E-600.005, Amended 11-22-10, Repealed     .

 

69W-600.006 Fingerprint Requirements.

Rulemaking Authority 215.405, 517.03 FS. Law Implemented 517.12(7), 943.053 FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.06, Amended 8-1-91, Formerly 3E-600.006, Amended 5-15-07, 12-24-07, 12-25-08, 11-22-10, 5-29-12, 11-11-13, 9-22-14, Repealed    .

 

69W-600.007 Changes in Name and Successor Registration Requirements.

Rulemaking Authority 517.03(1), 517.12(13) FS. Law Implemented 517.12(13) FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.07(4), Amended 10-15-86, 12-8-87, 8-1-91, 6-16-92, 1-11-93, 6-22-98, 8-9-98, 6-10-99, 5-10-00, 7-31-02, Formerly 3E-600.007, Amended 3-16-06, 11-22-10, 11-11-13, Repealed     .

 

69W-600.008 Termination of Registration as Dealer, Investment Adviser, Principal or Agent, or Notification of Branch Office.

Rulemaking Authority 517.03(1) FS. Law Implemented 517.12(12)(b), 517.161(5) FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.08, Amended 7-29-90, 8-1-91, 6-16-92, 1-11-93, 6-22-98, 6-10-99, 5-10-00, 5-27-01, Formerly 3E-600.008, Amended 3-16-06, 11-22-10, 10-29-12, 11-11-13, Repealed     .

 

69W-600.009 Registration and Notice-Filing Renewals.

Rulemaking Authority 517.03(1), 517.12(6), (15), 517.1202 FS. Law Implemented 517.12(6), (10), (11), (15), 517.1202 FS. History–New 12-5-79, Amended 9-20-82, 8-29-83, Formerly 3E-600.09, Amended 1-7-88, 6-16-92, 11-14-93, 2-5-01, 5-27-01, Formerly 3E-600.009, Amended 5-15-07, 11-22-10, 11-11-13, Repealed     .

 

69W-600.0091 Central Registration Depository System.

Rulemaking Authority 517.03, 517.12(15), 517.1202 FS. Law Implemented 517.12(10), (11), (15), 517.1202 FS. History–New 8-29-83, Formerly 3E-600.091, Amended 8-1-91, 6-16-92, 4-30-96, 9-19-00, Formerly 3E-600.0091, Amended 5-15-07, 11-22-10, 11-11-13, Repealed    .

 

69W-600.0092 Investment Adviser Registration Depository for Federal Covered Advisers.

Rulemaking Authority 517.03, 517.12(6), (15), 517.1201 FS. Law Implemented 517.1201 FS. History–New 7-31-02, Formerly 3E-600.0092, Amended 3-16-06, 5-15-07, 11-22-10, 11-11-13, Repealed    .

 

69W-600.0093 Investment Adviser Registration Depository for Investment Advisers.

Rulemaking Authority 517.03, 517.12(6), (15), 517.1202 FS. Law Implemented 517.12(10), (11), (15), 517.1202 FS. History–New 7-31-02, Formerly 3E-600.0093, Amended 3-16-06, 5-15-07, 11-22-10, 11-11-13, Repealed    .

 

69W-600.010 Notice of Civil, Criminal or Administrative Action.

Rulemaking Authority 517.03 FS. Law Implemented 517.12(6), (12), 517.161 FS. History–New 12-5-79, Amended 9-20-82, Formerly 3E-600.10, Amended 9-19-00, Formerly 3E-600.010, Amended 11-22-10, Repealed     .

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Pamela Epting, Director, Division of Securities

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

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 23, 2015

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: June 12, 2015