The proposed rule amendment updates the Office of Financial Regulation's (Office) disciplinary guidelines for Ch. 517, F.S., to specify sanctions for certain branch offices conducting securities transactions who fail to notice file with the Office ...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-1000.001Disciplinary Guidelines

PURPOSE AND EFFECT: The proposed rule amendment updates the Office of Financial Regulation's (Office) disciplinary guidelines for Chapter 517, F.S., to specify sanctions for certain branch offices conducting securities transactions who fail to notice file with the Office as required under Section 517.1202, F.S., created under Chapter 2013-202, Laws of Florida. The sanctions provide for a $10,000 fine, summary suspension of the branch office, and/or revocation. The rule is also amended to incorporate the disciplinary guidelines by reference in accordance with Section 120.54(1)(i), F.S.

SUBJECT AREA TO BE ADDRESSED: Securities Regulation - Disciplinary Guidelines.

RULEMAKING AUTHORITY: 517.1611(1) FS.

LAW IMPLEMENTED: 517.1611(1), 517.191(4), 517.221(3) 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.