The proposed rule amendments amend 11 rules regarding the registration of dealers, investment advisers, and associated persons, generally to reflect statutory changes as a result of Chapters 2013-201 and 2013-202, Laws of Florida. Chapter 2013-201, ...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NOS.:RULE TITLES:

69W-600.001Application for Registration as a Dealer, Issuer/Dealer, or Investment Adviser

69W-600.002Application for Registration as Associated Person

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

69W-600.006Fingerprint Requirements

69W-600.007Changes in Name and Successor Registration Requirements

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

69W-600.009Registration 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-600.014Books and Records Requirements

PURPOSE AND EFFECT: The proposed rule amendments amend 11 rules regarding the registration of dealers, investment advisers, and associated persons. generally to reflect statutory changes as a result of Chapters 2013-201 and 2013-202, Laws of Florida. Chapter 2013-201, Laws of Florida, changes requirements for applicant fingerprinting from the current paper card-based system to an electronic live-scan system, and Chapter 2013-202, Laws of Florida, changes requirements for certain branch offices conducting securities transactions to notice-file with the Office of Financial Regulation (Office) rather than apply for registration. 69W-600.001 and 600.002 are proposed for amendment to update fingerprinting requirements to conform with Ch. 2013-201 and update abbreviations and acronyms in the rule. 69W-600.004 is proposed for amendment to 1) update with branch office notice filing changes to conform with Ch. 2013-202, 2) clarify that a dealer or investment adviser must be registered with the Office of Financial Regulation before its branch offices may notice file, 3) clarify that a branch office's principal must have the required qualifications to supervise such an office, 4) rename "resident agent" as "resident person-in-charge," and 5) update abbreviations and acronyms in the rule. 69W-600.006 is proposed for amendment to 1) update fingerprinting requirements to conform with Ch. 2013-201, 2) waive the requirement to submit fingerprints to the Office for owners and principals of dealers or investment advisers whose fingerprints have been processed by the Financial Industry Regulatory Authority (FINRA), and 3) update abbreviations and acronyms in the rule. 69W-600.007, 600.008, 600.009, and 600.0091 are proposed for amendment to update with branch office notice filing changes and update abbreviations and acronyms in the rule. 69W-600.0092 is proposed for amendment to update abbreviations and acronyms in the rule. 69W-600.0093 is proposed for amendment to update with branch office notice filing changes to conform with Ch. 2013-202, 2) clarify that an investment adviser must be registered with the Office of Financial Regulation before its branch offices may notice file, and 3) update abbreviations and acronyms in the rule. 69W-600.014 is proposed for amendment to update with branch office notice filing changes to conform with Ch. 2013-202.

SUBJECT AREA TO BE ADDRESSED: Securities Registration - Registration of Dealers, Investment Advisers, Associated Persons.

RULEMAKING AUTHORITY: 215.405, 517.03, 517.12, 517.121, 517.1201, 517.1215 FS.

LAW IMPLEMENTED: 517.12, 517.1201, 517.1202, 517.1205, 517.121, 517.1215, 517.161, 943.053 FS.

IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE REGISTER.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: John Kim, [phone], [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS NOT AVAILABLE.