General Industry Standards Incorporated by Reference

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-200.002General Industry Standards Incorporated by Reference

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 40, No. 97, May 19, 2014 issue of the Florida Administrative Register.

Following comment by the Joint Administrative Procedures Committee, the following changes are made to the proposed rule: 1) The purpose and effect, summary, and summary of estimated regulatory costs sections of the Notice add additional language; 2) the rule is re-written in numbered paragraph form rather than in table format for clarity and removes unnecessary information; 3) ranges of rules are included for incorporated rule series; 4) additional materials contained in proposed Rule 69W-700.008 are incorporated by reference; 4) an obsolete reference (17 C.F.R. 275.206(4)-4) is removed; and 5) grammatical changes are made.

 

PURPOSE AND EFFECT: The Office of Financial Regulation (OFR) proposes to adopt new Rule 69W-200.002, F.A.C., to consolidate all material incorporated by reference in Chapter 69W, F.A.C. into this rule. The proposed new rule will conform with Section 120.54(1)(i), F.S., identifying each material, its date, the effective date of incorporation, the referencing rule(s), and hyperlinks where the material can be accessed via the FAR or inspected at the OFR. The purpose and effect of placing material into Rule 69W-200.002, F.A.C., is to streamline the process by which the latest version of each material can be incorporated by reference pursuant to Section 120.54(1)(i), F.S. and therefore keep such regulations current.

SUMMARY: The Office of Financial Regulation (OFR) proposes to adopt new Rule 69W-200.002, F.A.C., to consolidate material incorporated by reference in Chapter 69W, F.A.C. into this rule. The proposed new rule will conform with Section 120.54(1)(i), F.S., identifying each material, its date, and hyperlinks where the material can be accessed via the FAR or inspected at the OFR. See above.

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: 1) No requirement for a SERC was triggered under Section 120.541(1); and 2) The amendments will not exceed any one of the economic analysis criteria in a SERC, as set forth in Section 120.541(2)(a), F.S.  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), 517.1215(2), 517.1217 FS.

LAW IMPLEMENTED: 517.081, 517.12(4), 517.1215, 517.1217, 517.161(1) 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, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69W-200.002 General Industry Standards Incorporated by Reference.

The following general industry standards as expressed in the statutes, rules and regulations of the various federal and self-regulatory agencies and regulatory associations and referenced in Chapter 69W, F.A.C., are hereby incorporated by reference and adopted by this rule.  The material incorporated by reference in this rule may also be obtained from the Florida Office of Financial Regulation (Office), Division of Securities’ website at http://www.flofr.com/StaticPages/DivisionOfSecurities.htm, except where noted for copyright restrictions.  Materials subject to copyright restrictions may be inspected and examined by contacting the Florida Office of Financial Regulation, Division of Securities, at 200 E. Gaines Street, Tallahassee, Florida 32399, [phone].

(1) FINRA Rule 2210 (7-11-14), accessible at http://www.flrules.org/_____.

(2) SEC Rule 501(a) of Regulation D (17 C.F.R. § 230.501(a)) (9-23-13), accessible at http://www.flrules.org/_____.

(3) SEC Rule 15c3-1 (17 C.F.R. § 240.15c3-1) (7-7-14), accessible at http://www.flrules.org/_____.

(4) SEC Rule 206(4)-3 (17 C.F.R. § 275.206(4)-3) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(5) NASD Rule 3010 (2-4-13), accessible at http://www.flrules.org/_____.

(6) SEC Rule 144A (17 C.F.R. § 230.144A(a)) (9-23-13), accessible at http://www.flrules.org/_____.

(7) Regulation S-X (17 C.F.R. Part 210) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(8) SEC Rules 17a-5 (17 C.F.R. § 240.17a-5) (6-1-14) and 17a-10 (17 C.F.R. § 240.17a-10) (12-9-81), accessible at http://www.flrules.org/_____.

(9) Section 15A of the Securities Exchange Act of 1934 (15 U.S.C. §78o-3) (10-1-10), accessible at http://www.flrules.org/_____.

(10) Regulation A of the Securities Act of 1933 (17 C.F.R. §§230.251 through 230.263) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(11) SEC Rule 144 (17 C.F.R. § 230.144) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(12) Section 642(c)(5) of the Internal Revenue Code of 1954 (26 U.S.C. §642(c)(5)) (1-23-02), accessible at http://www.flrules.org/_____.

(13) Regulation S (17 C.F.R. §§ 230.901 through 230.905) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(14) Section 4(a)(2) of the Securities Act of 1933 (15 U.S.C. § 77d(a)(2)) (4-5-12), accessible at http://www.flrules.org/_____.

(15) SEC Rule 701 (17 C.F.R. 230.701) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(16) Section 3(a) of the Securities Act of 1933 (15 U.S.C. §77c(a)) (7-9-12), accessible at http://www.flrules.org/_____.

(17) Securities Act of 1933 Section 5 (15 U.S.C. §77e) (4-5-12); Section 6 (15 U.S.C. §77f) (4-5-12); Section 7 (15 U.S.C. §77g) (4-5-12); and  Section 8 (15 U.S.C. §77h) (8-22-40), accessible at http://www.flrules.org/_____.

(18) SEC Rule 17f-2 (17 C.F.R. § 240.17f-2) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(19) SEC Rule 10b-10 (17 CFR § 240.10b-10) (7-7-14), accessible at http://www.flrules.org/_____.

(20) SEC Rule 17a-3 (17 CFR § 240.17a-3) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(21) MSRB Rules G-8 (7-5-14) and G-15 (existing as of 9-22-14), available for inspection at the Office due to copyright restrictions.

(22) Securities Exchange Act of 1934 Section 9 (15 U.S.C. §78i) (2012); Section 10 (15 U.S.C. §78j) (7-16-11); Section 11A (15 U.S.C. §78k-1) (4-5-12); Section 15(c) and 15(g) (15 U.S.C. §78o(c) and 78o(g)) (2012), accessible at http://www.flrules.org/_____.

(23) SEC Rule 9b-1 (17 CFR § 240.9b-1) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(24) SEC Rules 10b-1, 10b-3, 10b-5, 10b5-1, 10b5-2, 10b-9, 10b-10, 10b-16, 10b-17, 10b-18, and 10b-21 (17 CFR §§ 240.10b-1, 240.10b-3, 240.10b-5, 240.10b5-1, 240.10b5-2, 240.10b-9, 240.10b-10, 240.10b-16, 240.10b-17, 240.10b-18, and 240.10b-21) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(25) SEC Rules 15c1-1 through 15c1-3 and 15c1-5 through 15c1-9 (17 CFR §§ 240.15c1-1 through 240.15c1-3 and 240.15c1-5 through 240.15c1-9) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(26) SEC Rules 15c2-1, 15c2-4, 15c2-5, 15c2-7, 15c2-8, 15c2-11, and 15c2-12 (17 CFR §§ 240.15c2-1, 240.15c2-4, 240.15c2-5, 240.15c2-7, 240.15c2-8, 240.15c2-11, and 240.15c2-12) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(27) SEC Rules 15g-1 through 15g-6, 15g-8, and 15g-9 (17 CFR §§ 240.15g-1 through 240.15g-6, 240.15g-8 and 240.15g-9) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(28) Regulation M (17 CFR §242.100 through 242.105) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(29) SEC Rule 601 (17 C.F.R. § 242.601) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(30) Regulation T, Credit by Brokers and Dealers, (12 C.F.R. §§ 220.1 through 220.12, 220.101, 220.103, 220.105, 220.108, 220.110, 220.111, 220.113, 220.117, 220.118, 220.119, 220.121, 220.122, 220.123, 220.124, 220.127, 220.128, 220.131, 220.132); and 12 C.F.R. § 221.125 of Regulation U (1-1-13 edition), accessible at http://www.flrules.org/_____.

(31) SEC Rule 8c-1, (17 C.F.R. § 240.8c-1) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(32) FINRA Rule 2000 Series (2010 through 2370) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(33) FINRA Rule 3000 Series (only 3130, 3160, and 3220 through 3310) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(34) FINRA Rule 4000 Series (4110 through 4570) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(35) FINRA Rule 5000 Series (5110 through 5350) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(36) FINRA Rule 6000 Series (6110 through 6770) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(37) FINRA Rule 7000 Series (7110 through 7740) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(38) NASD Conduct Rule 2000 Series (IM-2210-2 through 2830) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(39) NASD Conduct Rule 3000 Series (3010 through 3170) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(40) FINRA Uniform Practice Code Rule 11000 Series (11100 through 11900) (existing as of 9-22-14), accessible at http://www.flrules.org/_____.

(41) NYSE Rules 405 (7-14-11), 412 (9-15-08), and 435 (5-29-09), accessible at http://www.flrules.org/_____.

(42) Section 2, 3, 4, 5, and 6 of the Securities Act of 1933, (15 U.S.C.A. §§ 77b, 77c, 77d, 77e, and 77f) (4-5-12), accessible at http://www.flrules.org/_____.

(43) SEC Rules 134, 134a, 135a, 144, 156, 419, 481, and 482, (17 C.F.R. §§ 230.134, 230.134a, 230.135a, 230.144, 230.156, 230.419, 230.481 and 230.482) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(44) Section 15(b)(4)(E) of the Securities Exchange Act of 1934 (15 U.S.C. § 78o(b)(4)(E)) (2012), accessible at http://www.flrules.org/_____.

(45) Regulation SHO, Regulation of Short Sales, (17 C.F.R. §§ 242.200-242.203) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(46) Section 15B of the Securities Exchange Act of 1934 (15 U.S.C. § 78o-4) (10-1-10), accessible at http://www.flrules.org/_____.

(47) MSRB Definitional Rules D-1 to D-14, and General Rules G-1 to G-17 and G-19 to G-43 (existing as of 9-22-14), available for inspection at the Office due to copyright restrictions.

(48) Sections 13 and 15D of the Securities Exchange Act of 1934 (15 U.S.C. §§ 78m (8-10-12) and 78o-6 (4-5-12)), accessible at http://www.flrules.org/_____.

(49) Sections 204, 204A, 205, 206, 207, 208 of the Investment Advisers Act of 1940 (15 U.S.C.A. §§ 80b-4, 80b-4a, 80b-5, 80b-6, 80b-7, 80b-8) (2012), accessible at http://www.flrules.org/_____.

(50) SEC Rule 204-3 (17 C.F.R. §275.204-3); Rule 205-1 (17 C.F.R. §275.205-1); Rule 205-2 (17 C.F.R. §275.205-2); Rule 205-3 (17 C.F.R. §275.205-3); Rule 206(3)-1 (17 C.F.R. §275.206(3)-1); Rule 206(3)-2 (17 C.F.R. §275.206(3)-2); Rule 206(4)-1 (17 C.F.R. §275.206(4)-1; Rule 206(4)-3 (17 C.F.R. §275.206(4)-3, (4-1-14 edition), accessible at http://www.flrules.org/_____.

(51) The Investment Advisers Act of 1940 (15 U.S.C. § 80b-1 through 80b-21) (2012), accessible at http://www.flrules.org/_____.

(52) National Securities Markets Improvement Act of 1996 (Pub. L. 104-290) (10-11-96), accessible at http://www.flrules.org/_____.

(53) Section 4f(a) of the Commodity Exchange Act (7 U.S.C. § 6f) (2012), accessible at http://www.flrules.org/_____.

(54) Investment Company Act of 1940 (15 U.S.C. § 80a-1 through 80a-64) (2012), accessible at http://www.flrules.org/_____.

(55) SEC Rules 17a-3 and 17a-4 (17 C.F.R. §§ 240.17a-3 and 240.17a-4) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(56) SEC Rule 204-2 (17 C.F.R. §275.204-2) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(57) SEC Rule 204-3 (17 C.F.R. §275.204-3) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(58) SEC Rule 15c3-1 and appendices (17 C.F.R. §240.15c3-1 (7-7-14); 17 C.F.R. §240.15c3-1a (7-7-14); 17 C.F.R. §240.15c3-1b (8-9-84); 17 C.F.R. §240.15c3-1c (12-2-92); 17 C.F.R. §240.15c3-1d (6-5-08); 17 C.F.R. §240.15c3-1e (7-7-14); 17 C.F.R. §240.15c3-1f (7-7-14); 17 C.F.R. §240.15c3-1g (7-7-14)), accessible at http://www.flrules.org/_____.

(59) 17 C.F.R. § 240.17a-11 (6-1-14), accessible at http://www.flrules.org/_____.

(60) SEC Rule 15c3-3 and Exhibit A (17 C.F.R. § 240.15c3-3 (4-1-14 edition) and 240.15c3-3a (7-7-14)), accessible at http://www.flrules.org/_____.

(61) FINRA Rule 1250 (10-17-11), accessible at http://www.flrules.org/_____.

(62) NYSE Rule 345A (7-29-03), accessible at http://www.flrules.org/_____.

(63) NYSE MKT LLC Rule 341A (11-10-04), accessible at http://www.flrules.org/_____.

(64) Article VI, Rule 11 of the Chicago Stock Exchange (5-22-14), available for inspection at the Office due to copyright restrictions.

(65) Section 422 of the Internal Revenue Code (26 U.S.C. §422) (11-5-90), accessible at http://www.flrules.org/_____.

(66) Employee Retirement Income Security Act of 1974 (Pub.L. 93-406) (4-7-14), accessible at http://www.flrules.org/_____.

(67) Section 501(c)(3) of the Internal Revenue Code (26 U.S.C. §501(c)(3)) (3-30-10), accessible at http://www.flrules.org/_____.

(68) SEC Rule 15a-6(b)(4)(i) (17 C.F.R. §240.15a-6) (4-1-14 edition), accessible at http://www.flrules.org/_____.

(69) Sections 856, 857 and 858 of the Internal Revenue Code of 1954 (26 U.S.C. §§ 856 (7-30-08), 857 (7-30-08), 858 (11-10-88)), accessible at http://www.flrules.org/_____.

(70) Securities Exchange Act of 1934 (15 U.S.C. §§ 78a through 78pp) (2012), accessible at http://www.flrules.org/_____.

(71) SEC Rule 415 (17 C.F.R. § 230.415) (4-1-13 edition), accessible at http://www.flrules.org/_____.

(72) Section 10(a) of the Securities Act of 1933 (15 U.S.C. § 77j(a)) (8-10-54), accessible at http://www.flrules.org/_____.

Rulemaking Authority 517.03(1), 517.1215(2), 517.1217 FS. Law Implemented 517.081, 517.12(4), 517.1215, 517.1217, 517.161(1) FS. History–New________.