The purpose and effect of the rule amendments is to remove the disciplinary guidelines as found in the existing rule provisions and to transfer the disciplinary guidelines to a form incorporated into the rule chapter entitled "Office of Financial ...  

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    DEPARTMENT OF FINANCIAL SERVICES

    Finance

    RULE NOS.:RULE TITLES:

    69V-560.1000Disciplinary Guidelines

    69V-560.1012Adoption of Forms

    69V-560.1013Electronic Filing of Forms and Fees

    69V-560.102Application or Appointment Procedures and Requirements

    69V-560.103Definitions

    69V-560.107Registration of Locations and Appointment of Authorized Vendors

    69V-560.201Requirements

    69V-560.302Renewal Fees, Deadlines, and Requirements

    69V-560.504Reimbursement Rates for Examinations Conducted by the Office

    69V-560.602Quarterly Reports

    69V-560.606Annual Filing of Financial Audit Reports by Part II Licensees

    69V-560.608Currency Transaction Report Filings

    69V-560.609Suspicious Activity Report Filings

    69V-560.702Payment Instrument Sellers

    69V-560.703Money Transmitters

    69V-560.704Records to Be Maintained by Check Cashers

    69V-560.7041Check Cashing Database Access

    69V-560.7042Check Cashing Database Access Transaction Requirements

    69V-560.7043Check Cashing Database Availability

    69V-560.707Records to be Maintained by Deferred Presentment Providers

    69V-560.902Definitions

    69V-560.903Deferred Presentment Transactions

    69V-560.904Transaction Agreement Disclosures and Requirements

    69V-560.905Transaction Fees

    69V-560.907Database Access

    69V-560.908Database Transaction Requirements

    69V-560.909Database Availability

    69V-560.910Database Transaction Fees

    69V-560.911Database Dispute Resolution for Customers

    69V-560.912Database Confidentiality

    69V-560.913Termination of Deferred Presentment Activity; Database Maintenance

    PURPOSE AND EFFECT: The purpose and effect of the rule amendments is to remove the disciplinary guidelines as found in the existing rule provisions and to transfer the disciplinary guidelines to a form incorporated into the rule chapter entitled "Office of Financial Regulation, Division of Consumer Finance, Disciplinary Guidelines for Money Services Businesses," to amend mitigating and aggravating factors, to update form citations, to provide an exemption from online filing requirements for technological or financial hardships, to specify fingerprint exemptions for certain individuals, to provide an additional 45 days for submission of additional application information, to deem certain applications abandoned, to delete and amend definitions, to specify who must file Form 560-02, to specify when Form 560-02 must be filed, to specify when application amendments must be filed, to clarify the license renewal process, to establish a set rate for exam fees, to clarify quarterly report requirements, to correct inaccurate terminology, to clarify record keeping requirements, to amend existing rules and propose new rules to conform to and implement Chapter No. 218-26, Laws of Florida, which was signed into law on March 19, 2018. The legislation requires the Financial Service Commission to implement, by rule, certain provisions related to deferred presentment installment transactions.

    SUMMARY: To amend existing rules and propose new rules to conform to and implement Chapter No. 218-26, Laws of Florida, which was signed into law on March 19, 2018, to remove the disciplinary guidelines as found in the existing provisions and to transfer the disciplinary guidelines provisions to an incorporated form, to update form citations, and to amend rule provisions to bring clarity to the rule chapter.

    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 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: 215.405, 560.105, 560.1091, 560.1092, 560.1105, 560.1141, 560.118, 560.123, 560.126, 560.141, 560.142, 560.143, 560.2085, 560.209, 560.211, 560.310, 560.403, 560.404, FS.

    LAW IMPLEMENTED: 215.405, 560.103, 560.105, 560.141, 560.109, 560.1091, 560.1092, 560.118, 560.126, 560.127, 560.1105, 560.111, 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.125, 560.126, 560.128, 560.1401, 560.142, 560.143, 560.204, 560.205, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.309, 560.310, 560.402, 560.403, 560.404, 560.4041, 560.405, 560.406, 943.053, 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: sheila.harley@flofr.com

     

    THE FULL TEXT OF THE PROPOSED RULE IS:

     

    69V-560.1000 Disciplinary Guidelines.

    (1) Pursuant to section 560.1141, F.S., disciplinary guidelines applicable to each ground for disciplinary action that may be imposed by the Office against a person for a violation of chapter 560 F.S., are hereby adopted. The disciplinary guidelines are contained in “Office of Financial Regulation, Division of Consumer Finance, Form OFR-560-09, Disciplinary Guidelines for Money Services Businesses, which is hereby incorporated by reference, effective XXMonth Day, YearXX. A copy of the disciplinary guidelines is available on the Office’s website at www.flofr.com and http:www.flrules.org/Gateway/XXXXXXX. For the purpose of this rule and the disciplinary guidelines, the term “citation” means: a notice of non-compliance; written agreement; or final order docketed by the agency that specifies a violation of chapter 560, F.S., or any rule promulgated under that chapter.

    (2) Consistent with the disciplinary guidelines contained in the Office of Financial Regulation, Division of Consumer Finance, Form OFR-560-09, Disciplinary Guidelines for Money Services Businesses, the Office may issue: a written agreement which includes an administrative fine, but not adopted by final order; orders to revoke or suspend a license; orders to impose an administrative fine; orders of prohibition; orders of removal; orders denying applications; notices of non-compliance; and/or bring an action for injunction. Also, consistent with the disciplinary guidelines, to determine penalties, the Office may consider the combined effect of violations.

    (a) Depending on the severity and repetition of specific violations, the Office may impose an administrative fine, suspension of a license, or revocation of a license or any combination thereof;

    (b) For first citations identified in the disciplinary guidelines as minor violations, the Office shall issue a notice of non-compliance except when the Office identifies aggravating circumstances that would warrant a more severe penalty.

    (c) For second citations identified in the disciplinary guidelines as minor violations, the Office may issue a written agreement which is not adopted by final order imposing an administrative fine. Written agreements may be used only when the violations are limited to minor violations.

    (3) In accordance with section 560.1141, F.S., the Office shall consider the following circumstances in determining an appropriate penalty within the range of penalties prescribed in the disciplinary guidelines for each violation. The Office shall also consider the circumstances when determining whether a deviation from the range of penalties in the disciplinary guidelines is warranted:

    (a) The following circumstances are considered mitigating factors which will be used to reduce the penalty:

    1. The violation rate is less than 5% when compared to the overall sample size reviewed;

    2. No prior citation by the Office against the money services business or person with a controlling interest in the money services business within the past 10 years;

    3. The money services business detected and voluntarily instituted corrective action or measures to avoid the recurrence of the violation prior to the detection and intervention by the Office;

    4. The violation is attributable to a single person or employee, and the money services business removed or otherwise disciplined the individual prior to detection or intervention by the Office;

    5. The money services business is responsive to the Office’s requests or inquiries or made no attempt to impede or delay the Office in its examination or investigation of the underlying misconduct; or

    6. Other relevant, case-specific circumstances.

    (b) The following circumstances are considered aggravating factors which will be used to increase the penalty:

    1. The violation rate is more than 95% when compared to the overall sample size reviewed (sample size must be equal to or greater than 50 transactions and cover a date range of at least 6 months);

    2. There is a potential for harm to customers or the public;

    3. Prior citations by the Office against the money services business or person with a controlling interest in the money services business within the past 5 years which contain the same violations;

    4. The violation was the result of willful misconduct or recklessness;

    5. The money services business or person with a controlling interest in the money services business attempted to conceal the violation or mislead the Office; or

    6. Other relevant, case-specific circumstances.

    (4) The list of violations cited in the disciplinary guidelines is intended to be comprehensive, but the omission of a violation from the list does not preclude the Office from taking any action authorized by chapter 560, F.S.

    (5) The ranges for administrative fines imposed by the disciplinary guidelines are $1,000 to $3,500 for an “A” level fine; $3,500 - $7,500 for a “B” level fine; and $7,500 - $10,000 for a “C” level fine.

    (6) The ranges for suspension imposed by the disciplinary guidelines are 3 to 10 days for an “A” level suspension; 10 to 20 days for a “B” level suspension; 20 to 30 days for a “C” level suspension; and up to 90 days for a “D” level suspension. A “D” level suspension may be terminated early if the money services business cures the violation.

    (1) Pursuant to section 560.1141, F.S., listed below are disciplinary guidelines applicable to each

    ground for disciplinary action that may be imposed by the Office against a chapter 560, F.S., licensee for a material violation of chapter 560, F.S. In determining an appropriate penalty within the range of penalties prescribed in this rule for each violation as based upon the citation number, the Office shall consider the circumstances set forth in subsection (148). For purposes of this rule, the term “citation” means any written notice provided to and received by the licensee that specifies a violation of chapter 560, F.S., or any rule promulgated under that chapter.

     

     

    Statute

    Violation Description

    1st Citation

    2nd Citation

    3rd Citation

    (1)

    Section 560.109(3)(a), F.S.

    Failure to make available to the Office within 3 days all required books and records after written notice.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (2)

    Section 560.109(7), F.S.

    Failure to pay reasonable and necessary costs for exams or investigations based on actual costs incurred.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (3)

    Section 560.1092(1), F.S.

    Failure to pay to the Office the expenses of an examination at a rate adopted by rule.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (4)

    Section 560.1105, F.S.

    Failure to maintain all records for 5 years.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (5)

    Section 560.1105(1), F.S.

    Failure to make books and records available to the Office within 3 business days after receipt of a written request.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (6)

    Section 560.111(1)(a), F.S.

    Receiving or possessing property, except in payment of a just demand, and, with intent to deceive or defraud, to omit to make or to cause to be made a full and true entry thereof in its books and accounts, or to concur in omitting to make any material entry thereof.

    Fine: C

    Revocation

    N/A

    N/A

    (7)

    Section 560.111(1)(b), F.S.

    Embezzle, abstract, or misapply any money, property, or other thing of value belonging to the money services business, an authorized vendor, or customer with intent to deceive or defraud.

    Fine: C

    Revocation

    N/A

    N/A

    (8)

    Section 560.111(1)I, F.S.

    Making false entry in books and records with intent to deceive or defraud another person, appropriate regulator, or authorized third party appointed by the Office to examine or investigate a licensee or its authorized vendor.

    Fine: C

    Suspension: C

    Revocation

    N/A

    N/A

    (9)

    Section 560.111(1)(d), F.S.

    Engaging in acts that violate 18 U.S.C. s. 1956, 31 U.S.C. s. 5324, or any law or rule of another state or the United States relating to a money services business, deferred presentment provider, or usury which is a ground for the denial or revocation of a money services business or deferred presentment provider or its equivalent.

    Fine: C

    Revocation

    N/A

    N/A

    (10)

    Section 560.111(1)I, F.S.

    Filing with the Office, signing as a duly authorized representative, or delivering or disclosing to the Office any books and records known to be fraudulent or false as to any material matter.

    Fine: C

    Revocation

    N/A

    N/A

    (11)

    Section 560.111(1)(f), F.S.

    Placing among a money services business any note, obligation, or security that the money services business or its authorized vendor does not own or is known to be fraudulent or otherwise worthless or to represent to the Office that these documents are known to be fraudulent or otherwise worthless.

    Fine: C

    Revocation

    N/A

    N/A

    (12)

    Section 560.114 (1)(a), F.S.

    Failure to comply with any order of the Office or any written agreement entered into with the Office.

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Revocation

    (13)

    Section 560.114(1)(b), F.S.

    Fraud, misrepresentation, deceit, or gross negligence in any transaction by a money services business, regardless of reliance thereon by, or damage to, a customer.

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Revocation

    N/A

    (14)

    Section 560.114(1)I, F.S.

    Fraudulent misrepresentation, circumvention, or concealment of any matter that must be stated or furnished to a customer pursuant to chapter 560, F.S., regardless of reliance thereon by, or damage to, such customer.

    Fine: C

    Revocation

    N/A

    N/A

    (15)

    Section 560.114(1)(d), F.S.

    False, deceptive, or misleading advertising.

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    Revocation

    Fine:

    Suspension: C

    Revocation

    (16)

    Section 560.114(1)I, F.S.

    Failure to maintain, preserve, keep available for examination, and produce all books, accounts, files, or other documents required by chapter 560, F.S.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (17)

    Section 560.114(1)(f), F.S.

    Refusing to allow the examination or inspection of books, accounts, files, or other documents by the Office pursuant to chapter 560, F.S., or to comply with a subpoena issued by the Office.

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Revocation

    Revocation

    (18)

    Section 560.114(1)(g), F.S.

    Failure to pay a judgment recovered in any court by a claimant in an action arising out of a money transmission transaction within 30 days after the judgment became final.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (19)

    Section 560.114(1)(h), F.S.

    Engaging in acts prohibited under section 560.111, F.S.

    Fine: C

    Revocation

    N/A

    N/A

    (20)

    Section 560.114(1)(i), F.S.

    Insolvency

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: B

    Revocation

    (21)

    Section 560.114(1)(j), F.S.

    Failure to remove an affiliated party after the Office has issued and served a final order setting forth a finding that the affiliated party has violated a provision of chapter 560, F.S.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (22)

    Section 560.114(1)(k), F.S.

    Making a material misstatement, misrepresentation, or omission in an application, amendment, or appointment of an authorized vendor.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (23)

    Section 560.114(1)(l), F.S.

    Committing any act that results in a license, or its equivalent, to practice any profession or occupation, being denied, suspended, revoked, or otherwise acted against by a licensing authority in any jurisdiction.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (24)

    Section 560.114(1)(m), F.S.

    Being the subject of final agency action or its equivalent, issued by an appropriate regulator, for engaging in unlicensed money services business or deferred presentment provider activity in any jurisdiction.

    Fine: C

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (25)

    Section 560.114(1)(n), F.S.

    Committing any act resulting in a license or its equivalent to practice any profession or occupation being denied, suspended, revoked, or otherwise acted against by a licensing authority in any jurisdiction for a violation of 18 U.S.C. s. 1956, 18 U.S.C. s. 1957, and 18 U.S.C. s. 1960, 31 U.S.C. s. 5324, or any law or rule of another state or the United States relating to a money services business, deferred presentment provider, or usury.

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (26)

    Section 560.114(1)(o), F.S.

    Having been convicted of, or entered a plea of guilty or nolo contendere to any felony or crime punishable by imprisonment of 1 year or more under the law of any state of the United States which involves fraud, moral turpitude, or dishonest dealing, regardless of adjudication.

    Fine: C

    Revocation

    N/A

    N/A

    (27)

    Section 560.114(1)(p), F.S.

    Having been convicted of, or entered a plea of guilty or nolo contendere to a crime under 18 U.S.C. s. 1956 or 31 U.S.C. s. 5324 regardless of adjudication.

    Fine: C

    Revocation

    N/A

    N/A

    (28)

    Section 560.114(1)(q), F.S.

    Having been convicted of, or entered a plea of guilty or nolo contendere to misappropriation, conversion, or unlawful withholding of moneys belonging to others, regardless of adjudication.

    Fine: C

    Revocation

    N/A

    N/A

    (29)

    Section 560.114(1)I, F.S.

    Failure to inform the Office in writing within 30 days after having pled guilty or nolo contendere to, or being convicted of, any felony or crime punishable by imprisonment of 1 year or more under the law of any state or the U.S., or any crime involving fraud, moral turpitude, or dishonest dealing.

    Fine: B

    Fine: C

    Revocation

    N/A

    (30)

    Section 560.114(1)(s), F.S.

    Aiding, assisting, procuring, advising, or abetting any person in violating a provision of chapter 560, F.S., or any order or rule of the Office or Commission.

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    N/A

    (31)

    Section 560.114(1)(t), F.S.

    Failure to pay any fee, charge, or cost imposed or assessed under chapter 560, F.S.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Revocation: C

    (32)

    Section 560.114(1)(u), F.S.

    Failure to pay a fine assessed by the Office within 30 days after the due date as stated in the final order.

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Revocation

    Fine: C

    Revocation

    (33)

    Section 560.114(1)(v), F.S.

    Failure to pay any judgment entered by any court within 30 days after the judgment becomes final.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (34)

    Section 560.114(1)(x), F.S.

    Payment to the Office for a license or other fee, charge, cost, or fine with a check or electronic transmission of funds that is dishonored by the applicant’s or licensee’s financial institution.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (35)

    Section 560.114(1)(y), F.S.

    Violations of 31 C.F.R. ss. 103.20, 103.22, 102.23, 103.27, 103.28, 103.29, 103.33, 103.37, 103.41, and 103.125, and United States Treasury Interpretative Release 2004-1. Note: For purposes of the application of this violation, the distinct federal codes referenced shall be treated as separate violations and penalties shall be applied separately for each code violation cited.

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (36)

    Section 560.114(1)(z), F.S.

    Engaging in any practice or conduct that creates the likelihood of material loss, insolvency, or dissipation of assets of a money services business or otherwise materially prejudices the interests of its customers.

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Suspension: C

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (37)

    Section 560.114(2), F.S.

    Immediate Suspension for failure to provide required records upon written request.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (38)

    Section 560.118(1), F.S.

    Failure to file annual financial audit reports with the Office pursuant to this chapter 560, F.S., or related rules.

    Fine: C

    Revocation if

    later than 90 days from due date

    Fine: C

    Revocation if later than 90 days from due date

    Fine: C

    Revocation if later than 90 days from due date

    (39)

    Section 560.118(2), F.S.

    Failure to submit quarterly reports to the Office in the format specified by rule.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    Revocation

    (40)

    Section 560.123(3), F.S.

    Failure to maintain a record of every transaction, which occurs in this state that involves currency greater than $10,000, in one or in aggregate in one day, and involves the proceeds of unlawful activity or is designed to evade reporting requirements of section 560.123 or chapter 896, F.S.

    Fine: C

    Revocation

    N/A

    N/A

    (41)

    Section 560.123(3)I, F.S.

    Failure to file a currency transaction report for every transaction noted in section 560.123(3), F.S.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (42)

    Section 560.123(4), F.S.

    Failure to comply with the money laundering, enforcement, and reporting provisions of section 655.50, F.S., involving currency transactions and payment instruments, and chapter 896, F.S., concerning offenses relating to financial transactions.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (43)

    Section 560.1235(1), F.S.

    Failure to comply with all state and federal laws and rules relating to money laundering, including section 560.123, F.S.; and 31 C.F.R. ss. 103.20, 103.22, 103.23, 103.27, 103.28, 103.29, 103.33, 103.37, and 103.41.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (44)

    Section 560.1235(2), F.S.

    Failure to maintain, review, and update an anti-money laundering program.

    Fine: A

    Suspension: A

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (45)

    Section 560.1235(3), F.S.

    Failure to comply with United States Treasury Interpretive Release 2004-1.

    Fine: B

    Suspension: B

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (46)

    Section 560.126(1)(a), F.S.

    Failure to provide the Office notice within 30 days after occurrence of a bankruptcy filing.

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (47)

    Section 560.126(1)(b), F.S.

    Failure to provide the Office notice within 30 days after occurrence of the commencement of an administrative or judicial suspension, revocation, or denial of a license from any other state in the United States.

    Fine: A

    Suspension: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (48)

    Section 560.126(1)I, F.S.

    Failure to provide the office notice within 30 days after occurrence of a felony indictment relating to a money services business or deferred presentment provider involving the licensee, a vendor, or affiliated party. Note: Any licensee suspended under this provision shall be suspended until a final disposition has been reached by the court for the case defined in the suspension order. Any rights to appeal will not be considered in the application of this section.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (49)

    Section 560.126(1)(d), F.S.

    Failure to provide the office notice within 30 days after occurrence of a felony conviction, guilty plea, or plea of nolo contendere, regardless of adjudication, of a licensee, vendor, or affiliated party.

    Revocation

    Revocation

    Revocation

    (50)

    Section 560.126(1)I, F.S.

    Failure to provide the office notice within 30 days after occurrence of an interruption of any corporate surety bond required.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (51)

    Section 560.126(1)(g), F.S.

    Failure to provide the office with written notice sent by registered mail within 30 days after the occurrence or knowledge of the notification by law enforcement or a prosecutorial agency that the licensee or vendor is under criminal investigation.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (52)

    Section 560.126(2), F.S.

    Failure to report to the Office any change in application or renewal information on Form OFR 560-01, which is incorporated by reference in rule 69V-560.1012, F.A.C., within 30 days after the change.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (53)

    Section 560.126(3), F.S.

    Failure to report any change in ownership, control, or responsible persons of the licensee.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (54)

    Section 560.128(1), F.S.

    Failure to provide each customer with a toll-free number or the office’s toll-free number and address for consumer contact.

    Fine: A

    Fine: A

    Fine: B

    (55)

    Section 560.208(4), F.S.

    Failure to place assets that are the property of a customer in a segregated account in a federally insured institution or the failure to maintain separate accounts for operating capital and the clearing of customer funds.

    Fine: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (56)

    Section 560.208(5), F.S.

    Failure to ensure that money transmitted is available to the designated recipient within 10 business days after receipt.

    Fine: B

    Fine: C

    Fine: C

    Suspension: C

    (57)

    Section 560.208(6), F.S.

    Failure to immediately upon receipt of currency or payment instrument provide a confirmation or sequence number to the customer verbally, by paper, or electronically.

    Fine: A

    Fine: C

    Fine: C

    Suspension: C

    (58)

    Section 560.2085(1), F.S.

    Failure to notify the Office within 60 days after a vendor commences or terminates licensed activity.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (59)

    Section 560.2085(2), F.S.

    Failure to enter into a written contract with an authorized vendor, signed by the licensee and the authorized vendor.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (60)

    Section 560.2085(2)(a), F.S.

    The vendor contract must set forth the nature and scope of the relationship between the licensee and the vendor, including rights and responsibilities of the parties.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (61)

    Section 560.2085(2)(b), F.S.

    Failure to enter into a written contract that includes requirements of sections 560.2085(2)(b)1.-8., F.S.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (62)

    Section 560.2085(3), F.S.

    Failure to develop and implement written policies and procedures to monitor compliance with applicable state and federal law by a licensee’s authorized vendors.

    Fine: B

    Fine: B

    Fine: C

    Suspension: C

    (63)

    Section 560.209(1), F.S.

    Failure to maintain at all times net worth of at least $100,000 plus and additional $10,000 for each location up to $2 million. Note: Suspension will be ordered until adequate net worth has been obtained and accepted by the Office.

    Fine: B

    Suspension: B

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (64)

    Section 560.209(2), F.S.

    Failure to obtain an annual financial audit report and submit it to the Office within 120 days after the end of the licensee’s fiscal year end.

    Fine: B

    Suspension: B

    Revocation

    Fine: B

    Suspension: B

    Revocation

    Fine: C

    Suspension: C

    Revocation

    (65)

    Section 560.209(3)(a)-(b), F.S.

    Failure to provide and pledge to the Office a surety bond not less than $50,000 or more than $2 million.

    Fine: C

    Revocation

    N/A

    N/A

    (66)

    Section 560.209(3)I, F.S.

    Canceling a surety bond without written notice to the Office by registered mail or canceling a bond within 30 days after receipt by the Office of the written notice. Note: Suspension will be ordered until adequate surety device has been obtained and accepted by the Office.

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (67)

    Section 560.209(3)I, F.S.

    Failure to furnish a new or additional surety bond so that the total or aggregate principal sum of the bond equals the required bond under section 560.209(3)I, F.S.

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (68)

    Section 560.209(4)(a)-(b), F.S.

    Failure to deposit collateral cash, securities, or alternative security devices as provided by rule 69V-560.402, F.A.C., in at least the amount required by Form OFR-560-07.

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (69)

    Section 560.209(4)I, F.S.

    Failure to pledge collateral cash, securities, or alternative security devices on Form OFR-560-05, which is incorporated by reference in rule 69V-560.1012, F.A.C., or to maintain such collateral in an insured financial institution as set forth in rule 69V-560.402, F.A.C.

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    Fine: C

    Suspension: C

    (70)

    Section 560.210(1), F.S.

    Failure to possess, at all times, permissible investments with an aggregate market value of at least the aggregate face amount of all outstanding money transmissions and payment instruments issued or sold by the licensee or authorized vendor in the United States.

    Fine: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (71)

    Section 560.211(1), F.S.

    Failure to maintain all records required to be kept by section 560.211, F.S., for 5 years.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (72)

    Section 560.211(1)(a), F.S.

    Failure to maintain a daily record of payment instruments sold and money transmitted.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (73)

    Section 560.211(1)(b), F.S.

    Failure to maintain a general ledger containing all asset, liability, capital, income, and expense accounts, which must be posted at least monthly.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (74)

    Section 560.211(1)I, F.S.

    Failure to maintain daily settlement records received from authorized vendors.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (75)

    Section 560.211(1)(d), F.S.

    Failure to maintain monthly financial institution statements and reconciliation records.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (76)

    Section 560.211(1)I, F.S.

    Failure to maintain records of outstanding payment instruments and money transmitted.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (77)

    Section 560.211(1)(f), F.S.

    Failure to maintain records of each payment instrument paid and money transmission delivered.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (78)

    Section 560.211(1)(g), F.S.

    Failure to maintain a list of the names and addresses of all of the licensee’s authorized vendors.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (79)

    Section 560.211(1)(h), F.S.

    Failure to maintain records that document the establishment, monitoring, and termination of relationships with authorized vendors and foreign affiliates.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (80)

    Section 560.211(1)(i), F.S.

    Failure to maintain any records, as prescribed by rule, designed to detect and prevent money laundering as set forth in rules 69V-560.608, 69V-560.609, 69V-560.610, 69V-560.702, 69V-560.703, and 69V-560.706, F.A.C.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (81)

    Section 560.213, F.S.

    Failure of each payment instrument sold or issued by a licensee, directly or through its authorized vendor, to bear the name of the licensee.

    Fine: B

    Suspension: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (82)

    Section 560.303(3), F.S.

    Charging fees in excess of those provided by section 560.309, F.S., by a person exempt from licensure under chapter 560, part III, F.S.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Revocation

    (83)

    Section 560.309(1), F.S.

    Failure to transact business under chapter 560, part III, F.S. under the legal name under which the person is licensed.

    Fine: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (84)

    Section 560.309(2), F.S.

    Failure to endorse a payment instrument that is accepted or cashed by the licensee using the legal name under which the licensee is licensed.

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    N/A

    (85)

    Section 560.309(3), F.S.

    Failure to deposit payment instruments into a commercial account at a federally insured financial institution or sell payment instruments within 5 business days after the acceptance of the payment instrument.

    Fine: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (86)

    Section 560.309(4), F.S.

    Accepting or cashing multiple payment instruments from a person who is not the original payee, unless the person is licensed to cash payment instruments pursuant to chapter 560, part III, F.S., and all payment instruments accepted are endorsed with the legal name of the person.

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    N/A

    (87)

    Section 560.309(5), F.S.

    Failure to report all suspicious activity to the office in accordance with the criteria set forth in 31 C.F.R. s. 103.20.

    Fine: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (88)

    Section 560.309(6), F.S.

    Failure to equip each location of a licensee where checks are cashed with a security camera system that is capable of recording and retrieving an image in order to assist in identifying and apprehending an offender unless the licensee has installed a bulletproof or bullet-resistant partition or enclosure in the area where checks are cashed.

    Fine: B

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (89)

    Section 560.309(7), F.S.

    Failure to post a notice listing the charges for cashing payment instruments.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (90)

    Section 560.309(8)(a), F.S.

    Charged fees, except otherwise provided by section 560.309, F.S., and exclusive of the direct costs of verification in excess of 5 percent of the face amount of the payment instrument, or $5, whichever is greater.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Restitution

    Revocation

    (91)

    Section 560.309(8)(b), F.S.

    Charged fees, except otherwise provided by section 560.309, F.S., and exclusive of the direct costs of verification in excess of 3 percent of the face amount of the payment instrument, or $5, whichever is greater for a payment instrument that is any kind of state public assistance or federal social security benefit payable to the bearer of the payment instrument.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Restitution

    Revocation

    (92)

    Section 560.309(8)I, F.S.

    Charged fees, except otherwise provided by section 560.309, F.S., and exclusive of the direct costs of verification in excess of 10 percent of the face amount for personal checks or money orders, or $5, whichever is greater.

    Fine: C

    Restitution

    Fine: C

    Restitution

    Suspension: C

    Fine: C

    Restitution

    Revocation

    (93)

    Section 560.309(9), F.S.

    Assessed the cost of collections, other than fees for insufficient funds provided by law, without judgment from a court of competent jurisdiction.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Restitution

    Revocation

    (94)

    Section 560.309(10), F.S.

    Failed to comply with the provisions of section 68.065, F.S. and failed to comply with the prohibitions against harassment or abuse, false or misleading representations, and unfair practices in the Fair Debt Collections Practices Act, U.S.C. ss. 1692d, 1692d, 1962e, 1962f.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (95)

    Section 560.310(1)(a), F.S.

    Failed to maintain customer files on all customers who cash corporate or third-party payment instruments exceeding $1,000, as required by paragraph 69V-560.704(4)(d), F.A.C.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (96)

    Section 560.310(1)(b)1., F.S.

    Failed to maintain a copy of the personal identification as used as identification as presented by the customer for a payment instrument accepted having a face value of $1,000 or more.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (97)

    Section 560.310(1)(b)2., F.S.

    Failed to maintain a thumbprint of the customer, taken by the licensee, for a payment instrument accepted having a face value of $1,000 or more.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: B

    Fine: C

    Revocation

    (98)

    Section 560.310(1)I, F.S.

    Failed to maintain an electronic payment instrument log which reports aggregate payment instruments whose total cashed is greater than $1,000.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: B

    Fine: C

    Revocation

    (99)

    Section 460.404(1), F.S.

    Failed to document each deferred presentment transaction in a written agreement signed by the deferred presentment provider and the drawer.

    Fine: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (100)

    Section 560.404(2), F.S.

    Each deferred presentment transaction agreement failed to be executed on the day the deferred presentment provider furnishes currency or a payment instrument to the drawer.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (101)

    Section 560.404(3)(a), F.S.

    Each deferred presentment transaction agreement failed to contain the name or trade name, address, and telephone number of the deferred presentment provider and the name and title of the person who signs the agreement on behalf of the provider.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (102)

    Section 560.404(3)(b), F.S.

    Each deferred presentment transaction agreement failed to contain the date the deferred presentment transaction was made.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (103)

    Section 560.404(3)I, F.S.

    Each deferred presentment agreement failed to contain the amount of the drawer’s check.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (104)

    Section 560.404(3)(d), F.S.

    Each deferred presentment agreement failed to contain the length of the deferment period.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (105)

    Section 560.404(3)I, F.S.

    Each deferred presentment agreement failed to contain the last day of the deferment period.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (106)

    Section 560.404(3)(f), F.S.

    Each deferred presentment agreement failed to contain the address and telephone number of the office.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (107)

    Section 560.404(3)(g), F.S.

    Each deferred presentment agreement failed to contain a clear description of the drawer’s payment obligations under the deferred presentment transaction.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (108)

    Section 560.404(3)(h), F.S.

    Each deferred presentment agreement failed to contain the transaction number assigned by the office’s database.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (109)

    Section 560.404(4), F.S.

    Failed to furnish a copy of the deferred presentment transaction agreement to the drawer.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (110)

    Section 560.404(5), F.S.

    Accepting a check for a deferred presentment transaction where the face amount of the check taken exceeds $500 exclusive of the fees allowed under part IV of chapter 560, F.S.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (111)

    Section 560.404(6), F.S.

    Charging fees that exceed 10 percent of the currency or payment instrument provided for a deferred presentment transaction.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Restitution

    Revocation

    (112)

    Section 560.404(7), F.S.

    Collecting the fees authorized for a deferred presentment transaction before the drawer’s check is presented or redeemed.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (113)

    Section 560.404(8), F.S.

    Accepting a deferred presentment transaction for a term longer than 31 days or less than 7 days.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (114)

    Section 560.404(9), F.S.

    Requiring a drawer to provide additional security or guaranty for a deferred presentment transaction.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (115)

    Section 560.404(10)(a), F.S.

    Including a hold harmless clause in a deferred presentment agreement.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: B

    (116)

    Section 560.404(10)(b), F.S.

    Including a confession of judgment clause in a deferred presentment agreement.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (117)

    Section 560.404(10)I, F.S.

    Including an assignment of or order for a payment of wages or other compensation for services in a deferred presentment agreement.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (118)

    Section 560.404(10)(d), F.S.

    Including a provision in which the drawer agrees not to assert any claim or defense arising out of the agreement in a deferred presentment agreement.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (119)

    Section 560.404(10)I, F.S.

    Including a waiver of any provision of chapter 560, part IV, F.S., in a deferred presentment agreement.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (120)

    Section 560.404(11), F.S.

    A deferred presentment provider shall immediately provide the drawer with the full amount of any check to be held, less only the fee allowed by section 560.404, F.S.

    Fine: B

    Fine: C

    Suspension: C

    Fine: C

    Revocation

    (121)

    Section 560.404(12), F.S.

    Holding a deferred presentment agreement or a drawer’s check that is altered, the date is deleted, or fails to bear the same date for a deferred presentment transaction.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (122)

    Section 560.404(13), F.S.

    Failure to ensure that each deferred presentment transaction complies with the disclosure requirements of 12 C.F.R., part 226, relating to the federal Truth-in-Lending Act, and Regulation Z of the Board of Governors of the Federal Reserve Board.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (123)

    Section 560.404(14), F.S.

    Accepting or holding an undated check or a check dated on a date other than the date on which the deferred presentment provider agreed to hold the check and signed the deferred presentment transaction agreement.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (124)

    Section 560.404(15), F.S.

    Failure to hold the drawer’s check for the agreed number of days, unless the drawer chose to redeem the check before the presentment date.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (125)

    Section 560.404(16), F.S.

    Charging an additional fee for issuing or cashing a deferred presentment provider’s payment instrument, if licensed under part II of chapter 560, F.S.

    Fine: B

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: B

    Restitution

    Revocation

    (126)

    Section 560.404(17), F.S.

    Requiring a drawer to accept a payment instrument issued by the licensee in lieu of currency in a deferred presentment transaction.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (127)

    Section 560.404(18), F.S.

    Engaging in the rollover of a deferred presentment agreement. Redeeming, extending, or otherwise consolidating a deferred presentment agreement with the proceeds of another deferred presentment transaction made by the same deferred presentment provider or an affiliate.

    Fine: B

    Restitution of any fees received for each subsequent rollover

    Fine: B

    Restitution of any fees received for each subsequent rollover Suspension: B

    Fine: C

    Restitution of any fees received for each subsequent rollover Revocation

    (128)

    Section 560.404(19), F.S.

    Entering into a deferred presentment transaction with a drawer who has an outstanding deferred presentment transaction with that provider or with any other deferred presentment provider, or with a person whose previous deferred presentment transaction with that provider or with any other provider has been terminated for less than 24 hours.

    Fine: B

    Restitution of any fees received for each subsequent rollover

    Fine: B

    Restitution of any fees received for each subsequent rollover Suspension: B

    Fine: C

    Restitution of any fees received for each subsequent rollover Revocation

    (129)

    Section 560.404(19)(a), F.S.

    Failure to verify whether the deferred presentment provider or an affiliate has an outstanding deferred presentment transaction with a particular person or has terminated a transaction with that person within the previous 24 hours.

    Fine: B

    Restitution of any fees received for each subsequent rollover

    Fine: B

    Restitution of any fees received for each subsequent rollover Suspension: B

    Fine: C

    Restitution of any fees received for each subsequent rollover Revocation

    (130)

    Section 560.404(19)(b), F.S.

    Failure to access the office’s database and verify whether any other deferred presentment provider has an outstanding deferred presentment transaction with a particular person or has terminated a transaction with that person within the previous 24 hours.

    Fine: B

    Restitution of any fees received for each subsequent rollover

    Fine: B

    Restitution of any fees received for each subsequent rollover Suspension: B

    Fine: C

    Restitution of any fees received for each subsequent rollover Revocation

    (131)

    Section 560.404(20), F.S.

    Failure to provide the notice defined in section 560.404(20), F.S., in a prominent place on each deferred presentment agreement in at least 14-point type in substantially the form provided by section 560.404(20), F.S., and must obtain the signature of the drawer where indicated.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (132)

    Section 560.404(21), F.S.

    Presenting a drawer’s check if the drawer informs the provider in person that the drawer cannot redeem or pay in full in cash the amount due and owing the deferred presentment provider or charging an additional fee or penalty by virtue of any misrepresentation made by the drawer as to the sufficiency of funds in the drawer’s account.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Restitution

    Revocation

    (133)

    Section 560.404(22), F.S.

    Failure to provide a grace period extending the term of an agreement for an additional 60 days after the original termination date, without any additional charge if by the end of the deferment period, the drawer informs the deferred presentment provider in person that the drawer cannot redeem or pay in full in cash the amount due and owing.

    Fine: B

    Restitution

    Fine: C

    Restitution

    Suspension: C

    Fine: C

    Restitution

    Revocation

    (134)

    Section 560.404(22)(a), F.S.

    Failure to comply with and adhere to, including depositing the drawer’s check before the end of the 60-day grace period, a repayment plan that a drawer agrees to comply with and adhere to, which was approved by a credit counseling agency. Discouraging a drawer from using the 60-day grace period.

    Fine: B

    Restitution

    Fine: C

    Restitution

    Suspension: C

    Fine: C

    Restitution

    Revocation

    (135)

    Section 560.404(22)(b)1., F.S.

    Failure to provide verbal notice of the availability of the 60-day grace period consistent with the written notice in section 560.404(20), F.S.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (136)

    Section 560.404(22)(b)2., F.S.

    Failure to provide a drawer a list of approved consumer credit counseling agencies prepared by the office.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (137)

    Section 560.404(22)(b)3., F.S.

    Failure to provide a drawer the written notice in section 560.404(22)(b)3., F.S., in at least 14-point type in substantially the form in the section detailing the drawer’s rights under the 60-day grace period.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (138)

    Section 560.404(22)I, F.S.

    Failure to pay one-half of the drawer’s fee for a deferred presentment agreement to the consumer credit counseling agency if a drawer completes an approved payment plan.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (139)

    Section 560.404(23), F.S.

    Failure to submit data, including but not limited to the drawer’s name, social security number or employment authorization alien number, address, driver’s license number, amount of the transaction, date of transaction, the date that the transaction is closed, and such additional information as is required by rule before entering into each deferred presentment transaction in order to verify whether any deferred presentment transactions are outstanding for a particular person.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Suspension: C

    (140)

    Section 560.404(24), F.S.

    Accepting more than one check or authorization to initiate more than one automated clearinghouse transaction to collect on a deferred presentment transaction for a single deferred presentment transaction.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (141)

    Section 560.405(1), F.S.

    Presenting a drawer’s check before the end of the deferment period, as reflected in the deferred presentment transaction agreement.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (142)

    Section 560.405(2), F.S.

    Failure to endorse a drawer’s check with the name under which the deferred presentment provider is doing business before the deferred presentment provider presents the drawer’s check.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (143)

    Section 560.405(3), F.S.

    Failure to return a drawer’s check, upon redemption, and provide a signed, dated receipt showing that the drawer’s check has been redeemed.

    Fine: A

    Fine: B

    Fine: C

    Suspension: C

    (144)

    Section 560.406(1), F.S.

    Sending or collecting on collection notices containing references to treble damages and criminal prosecution used for the collection of worthless checks in a deferred presentment transaction.

    Fine: A

    Fine: B

    Suspension: B

    Fine: C

    Revocation

    (145)

    Section 560.406(2), F.S.

    Failure to comply with the prohibitions against harassment or abuse, false or misleading representations, and unfair practices that are contained in the Fair Debt Collections Practices Act, 15 U.S.C. ss. 1692d, 1692e, 1692f.

    Fine: B

    Suspension: B

    Fine: C

    Suspension: B

    Fine: C

    Revocation

    (146)

    Section 560.406(3), F.S.

    Assessing the cost of collection, other than charges for insufficient funds as allowed by law, without a judgment from a court of competent jurisdiction for a deferred presentment transaction.

    Fine: A

    Restitution

    Fine: B

    Restitution

    Suspension: B

    Fine: C

    Restitution

    Revocation

     

    (147) In accordance with this rule:

    (a) Depending on the severity and repetition of specific violations, the Office may impose an administrative fine, suspension of a license, or revocation of a license or any combination thereof;

    (b) The Office may impose a cease and desist order in conjunction with and in addition to any of the designated sanctions set forth in this rule when appropriate under the circumstances;

    I Notwithstanding this rule, the Office may, when appropriate, enter orders of removal or prohibition or orders denying applications, and may seek the entry of an injunction and appointment of a receiver by a court of competent jurisdiction; and,

    (d) The Office will consider the licensee’s disciplinary history for the past five years in determining an appropriate penalty, and may impose a more severe penalty when the disciplinary history includes past violations.

    (148) In accordance with sections 560.1141(2), (3), F.S., the Office shall consider the following circumstances in determining an appropriate penalty within the range of penalties prescribed in this rule for each violation as based upon the citation number. The Office also shall consider these circumstances in determining a penalty that deviates from the range of penalties prescribed for each violation and citation number as a result of such circumstances:

    (a) Whether the violation rate is less than 5% when compared to the overall sample size reviewed;

    (b) The degree of harm to the customers or the public;

    I The disciplinary history of the licensee;

    (d) Whether the licensee detected and voluntarily instituted corrective responses or measures to avoid the recurrence of a violation prior to detection and intervention by the Office;

    I Whether the licensee’s violation was the result of willful misconduct or recklessness;

    (f) Whether at the time of the violation, the licensee had developed and implemented reasonable supervisory, operational or technical procedures, or controls to avoid the violation;

    (g) Where the violation is attributable to an individual officer, director, responsible person, or authorized vendor, whether the licensee removed or otherwise disciplined the individual prior to detection and intervention by the Office;

    (h) Whether the licensee attempted to conceal the violation or mislead or deceive the Office;

    (i) The length of time over which the licensee engaged in the violations;

    (j) Whether the licensee engaged in numerous violations or a pattern of misconduct;

    (k) The number, size and character of the transactions in question;

    (l) Whether the licensee provided substantial assistance to the Office in its examination or investigation of the underlying misconduct;

    (m) Other relevant, case-specific circumstances.

    (149) The list of violations cited in this rule is intended to be comprehensive, but the omission of a violation from the list does not preclude the Office from taking any action authorized by section 560.114, F.S.

    (150) The ranges for administrative fines imposed by this rule are $1,000 – $3,500 for an “A” level fine; $3,500 – $7,500 for a “B” level fine; and $7,500 – $10,000 for a “C” level fine.

    (151) The ranges for suspensions imposed by this rule are 3 to 10 days for an “A” level suspension; 10 to 20 days for a “B” level suspension; and 20 to 30 days for a “C” level suspension.

    Rulemaking Authority 560.105, 560.1141 FS. Law Implemented 560.109, 560.1092, 560.1105, 560.111, 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.125, 560.126, 560.128, 560.204, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.309, 560.310, 560.403, 560.404, 560.405, 560.406 FS. History–New 6-7-09, Amended__________.

     

    69V-560.1012 Adoption of Forms.

    (1) The following forms are incorporated by reference and readopted by this rule for the purposes of rules 69V-560.102-.913, F.A.C.:

    (a) Application for Licensure as a Money Services Business, Form OFR-560-01, effective January 2, 2014 10-18-09, amended January 2, 2014 1-2-14, http://www.flrules.org/Gateway/reference.asp?No=Ref-01231.

    (b) Location Notification Form, Form OFR-560-02, effective January 13, 2009 1-13-09.

    (c) Declaration of Intent to Engage in Deferred Presentment Transactions, Form OFR-560-03, effective January 13, 2009 1-13-09.

    (d) Money Services Business Quarterly Report Form, Form OFR-560-04, effective January 13, 2009 1-13-09.

    (e) Pledge Agreement, Form OFR-560-05, effective January 13, 2009 1-13-09.

    (f) Money Services Business Surety Bond Form, Form OFR-560-06, effective January 13, 2009 1-13-09.

    (g) Security Device Calculation Form, Form OFR-560-07, effective October 18, 2009 10-18-09.

    (h) Request for Exemption from Electronic Filing Requirements, Form OFR-560-08, effective March 16, 2011  3/16/2011, http://www.flrules.org/Gateway/reference.asp?No=Ref-00145.

    (i) Currency Transaction Report, FinCEN Form 112 104, effective February 15, 2018 1-13-09.

    (j) Suspicious Activity Report by Money Services Business, FinCEN Form 111 109, effective June 22, 2018 1-13-09.

    (k) Report of International Transportation of Currency or Monetary Instruments, FinCEN Form 105, effective July 2017 1-13-09.

    (2) All forms adopted by this rule are available on the Office’s website at www.flofr.com and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376.

    Rulemaking Authority 215.405, 560.105, 560.118, 560.126, 560.141, 560.2085, 560.209, 560.403 FS. Law Implemented 560.118, 560.126, 560.140, 560.141, 560.205, 560.2085, 560.209, 560.403, 943.053 FS. History–New 1-13-09, Amended 10-18-09, 3-16-11, 5-29-12, 1-2-14, Amended__________.

     

    69V-560.1013 Electronic Filing of Forms and Fees.

    (1) No change..

    (2) All forms adopted under paragraphs 69V-560.1012(1)(a) through (1)(d) and (1)(g), F.A.C., must be filed electronically with the Office through the REAL system.

    (3) No change..

    (4) Any person may request an exemption from the electronic filing requirements of this rule due to a technological or financial hardship by submitting Form OFR-560-08, Request for Exemption from Electronic Filing Requirements, to: Office of Financial Regulation, Division of Consumer Finance, Bureau of Registration Regulatory Review, 200 E. Gaines Street, Tallahassee, Florida 32399-0351. The Office of Financial Regulation will provide any person granted an exemption under this subsection with instructions on how to file forms and fees in paper format. Form OFR-560-08 is incorporated by reference in rule 69V-560.1012, F.A.C.

    Rulemaking Authority 560.105 FS. Law Implemented 560.105, 560.118, 560.141, 560.1401, 560.142, 560.143, 560.208, 560.2085, 560.205, 560.209 FS. History–New 1-13-09, Amended 3-16-11, Amended__________.

     

    69V-560.102 Application or Appointment Procedures and Requirements.

    (1) Applications for money service business licenses must be made in accordance with the provisions of sections 560.1401 560.140, 560.141, and 560.143, F.S. Further, application for a money services business license involving payment instrument sales or money transmission must also comply with section 560.205, F.S. The application form for applying hereunder is Application for Licensure as a Money Services Business, OFR-560-01, which is incorporated by reference in rule 69V-560.1012, F.A.C.

    (2) Except for applicants that are publicly traded, eEach person listed in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, must submit fingerprints through a live-scan vendor approved by the Florida Department of Law Enforcement. A list of approved vendors is published on the Florida Department of Law Enforcement’s website at http://www.fdle.state.fl.us/Criminal-History-Records/Registered-LiveScan-Submitters www.fdle.state.fl.us(http://www.fdle.state.fl.us/Content/getdoc/941d4e90-131a-45ef-8af3-3c9d4efefd8e/Livescan-Service- Providers-and-Device-Vendors.aspx). Such fingerprints will be submitted to the Florida Department of Law Enforcement for a state criminal background check and the Federal Bureau of Investigation for a Federal criminal background check. The cost of the fingerprinting process shall be borne by the applicant and paid directly to the live-scan vendor.

    (3) Request for Additional Information. Any request for additional information will be made by the Office within thirty (30) days after receipt of the application. The additional information must be received by the Office within forty-five (45) days from the date of the request. For good cause shown, the Office may grant a request for an additional forty-five (45) days to submit the additional information. The Office will not grant a request after the original forty-five (45) day deadline has passed. Failure to timely provide all additional information shall within forty-five (45) days from the date of the request will result in the application being deemed abandoned, which will result in the application being removed from further consideration by the Office and closed. Office denying the application.

    (4) Withdrawal of Application. An application may be withdrawn if the applicant submits a request through the REAL system (https://real.flofr.com/) for same before the application is approved or denied.

    (5) Amendments to Pending Applications. If the information contained in any application form for licensure as a money services business, or in any amendment thereto, becomes inaccurate for any reason, the applicant shall promptly file an amendment correcting such information within thirty (30) days of the change on Form OFR-560-01, which is incorporated by reference in rule 69V-560.1012, F.A.C. An applicant may amend the application as to those factors generally within the control or selection of the applicant once, as a matter of course, at any time within thirty (30) days from receipt of the application by the Office. Otherwise, the application may be amended only with prior written permission from the Office. The Office will grant permission to amend the application, unless the amendment constitutes a material change to the application. Requests to make changes which are material to the application will be deemed by the Office to be grounds for denial, and a new application, accompanied by the appropriate filing fee, will be required. Material changes include:

    (a) through (e)  No change..

    Rulemaking Authority 215.405, 560.105, 560.118, 560.209, 560.403 FS. Law Implemented 215.405, 560.118, 560.140, 560.1401, 560.141, 560.143, 560.1235, 560.204, 560.205, 560.209, 560.303, 560.307, 560.403, 943.053 FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.102, Amended 7-15-07, 6-17-08, 12-25-08, 1-13-09, 1-2-14, Amended__________.

     

    69V-560.103 Definitions.

    For the purposes of this chapter, the following definitions shall apply:

    (1) “Financial Statements” shall be defined as those reports, schedules and statements, prepared in accordance with United States Generally Accepted Accounting Principles.

    (1)(2) “FinCEN” means the Financial Crimes Enforcement Network of the United States Treasury Department.

    (2)(3) “Holiday” means such days as are designated by section 110.117, F.S.

    (3)(4) “Quarter” and “quarterly” mean March 31, June 30, September 30, and December 31 of each calendar year.

    (4) “Check cashing database” means the statewide, real time, online check cashing database required by section 560.310(4), F.S.

    (5) “Deferred presentment database” means the deferred presentment transaction database required by section 560.404(23), F.S., also known as the “FLADPP.”

    (6) The term “check cashing database vendor” means the vendor which is contracted by the Office for the purpose of administering, operating and maintaining the check cashing database.

    (7) The term “deferred presentment database vendor” means the vendor which is contracted by the Office for the purpose of administering, operating and maintaining the deferred presentment database.

    Rulemaking Authority 560.105 FS. Law Implemented 560.103, 560.118, 560.1235, 560.140, 560.141, 560.205 560.309, 560.310, 560.404 FS. History–New 9-24-97, Amended  11-4-01, Formerly 3C-560.103, Amended 9-14-04, 7-15-07, 1-13-09, __________.

     

     

    69V-560.107 Application for Branch Office Registration of Locations and Appointment of Authorized Vendors.

    (1) Every licensee that commences operations at branch offices locations other than the main office or through authorized vendors in this state shall:

    (a) File a completed Form OFR-560-02 (Location Notification Form) for each branch office or authorized vendor. location, which must be received by the Office within sixty (60) calendar days from the date that a location opens or an authorized vendor commences operations on behalf of the licensee;

    (b) Submit the non-refundable fee for each branch office or authorized vendor appointment fee as prescribed in section 560.143, F.S.

    (2) Every licensee shall be responsible for promptly filing a completed Form OFR-560-02 to terminate a branch office or authorized vendor. within sixty (60) calendar days from the date that a location closes or authorized vendor either ceases operation or has its authority to act on the licensee’s behalf terminated by such licensee.

    Pursuant to section 560.2085, F.S., a licensee must file Form-560-02 and the applicable fee within sixty (60) days of the authorized vendor commencing operations. This requirement also applies to authorized vendors who are terminated within the sixty (60) days. For purposes of this section the sixty (60) day period referenced in subsections (1) and (2), above, is solely for the filing of the required form and payment of the required nonrefundable fee. A licensee must file Form OFR-560-02 and pay the required fee for all locations of the licensee and authorized vendors that commence operations on behalf of the licensee. If the licensee for any reason closes a location or terminates the relationship with such authorized vendor within the first sixty (60) days, it will not relieve the licensee of the obligation to comply with the provisions of this subsection. Form OFR-560-02 is incorporated by reference in rule 69V-560.1012, F.A.C.

    Rulemaking Authority 560.105, 560.141, 560.2085 FS. Law Implemented 560.141, 560.208, 560.2085 FS. History–New 11-4-01, Formerly 3C-560.107, Amended 7-15-07, 1-13-09, __________.

     

     

    69V-560.201 Amendments, Change of Name, Change of Entity and Change in Control or Ownership Requirements.

    (1) Written notices required under section 560.126(1)(a) through (g), F.S., shall be sent by registered mail to: Office of Financial Regulation, Division of Consumer Finance, 200 East Gaines Street, Tallahassee, Fl. 32399-0376.

    (2) Each person licensed under chapter 560, F.S., that proposes to change the information contained in any initial application form or any amendment thereto, must file an amendment pursuant to section 560.126, F.S., not later than thirty (30) days after the effective date of the change by submitting an Application for Licensure as Money Services Business, Form OFR-560-01, through the Office’s REAL System in accordance with 69V-560.1013, F.A.C.

    (3) Each person licensed under chapter 560, F.S., that proposes to change any personnel listed in question 5G of Form OFR-560-01 that does not result in a change of controlling interest in the licensee, shall file an amendment not later than thirty (30) days prior to the effective date of the change or within two (2) business days after the date the licensee first received notice of the change. Persons not currently on file with the Office that have not complied with section 560.141(1)(c), F.S., must comply with the fingerprinting requirements contained therein.

    (4)(1) Where a person or group of persons directly or indirectly or acting by or through one or more persons, proposes to acquire a controlling interest in a money services business licensee, such person or group shall file with the Office, no later than thirty (30) days prior to the date of such acquisition, a new application pursuant to rule 69V-560.102, F.A.C., together with all required exhibits and fees. Additionally, the applicant shall file with the Office, at the time the new application is filed, a notice of termination of licensure of the acquired entity on Form OFR-560-01, effective upon disposition of the new application by the Office. Form OFR-560-01 is incorporated by reference in rule 69V-560.1012, F.A.C.

    (5)(2) A licensee required to file a new application as a result of an acquisition of a controlling interest pursuant to section 560.126(2), F.S., must also file new location forms (Form OFR-560-02) and applicable fees up to a maximum of $20,000 for all existing locations on file with the Office at the time of filing the new application in subsection (1) and a Declaration of Intent to Engage in Deferred Presentment Transactions (Form OFR-560-03) and applicable fee if currently engaged in deferred presentment transactions. Forms OFR-560-02 and OFR-560-03 are incorporated by reference in rule 69V-560.1012, F.A.C.

    (6)(3) The Office shall waive the requirement for a licensee to file a new application pursuant to section 560.126(2), F.S.:

    (a) When a person or group of persons proposing to purchase or acquire a controlling interest in a licensee has previously complied with the applicable provisions of section sections 560.140 and 560.141, F.S., concerning a money services business currently licensed with the Office, provided that such person is currently affiliated with the money services business; or

    (b) When the acquirer is currently licensed with the Office as a money services business.

    (7) Forms OFR-560-01 and OFR-560-02 are incorporated by reference in rule 69V-560.1012, F.A.C.

    Rulemaking Authority 215.405, 560.105, 560.126 FS. Law Implemented 215.405, 560.126, 560.127, 560.143, 560.204, 560.303(1) FS. History–New 9-24-97, Amended 11-4-01, 12-11-03, Formerly 3C-560.201, Amended 7-15-07, 1-13-09, __________.

     

     

    69V-560.302 Renewal Fees, Deadlines, and Requirements.

    (1) Chapter 560, F.S., licenses must be renewed in accordance with the provisions of section 560.142, F.S.

    (2) If the Office does not receive the renewal fees required in section 560.143(2), F.S., on or before the license expiration date, the license shall revert from active to inactive status. The inactive license may be reinstated within sixty (60) days after becoming inactive upon submission of the required renewal fees including late renewal fees required in section 560.143(3), F.S.  A license that is not reinstated within sixty (60) days after becoming inactive automatically expires and a new application must be filed with the Office pursuant to chapter 560, F.S.  For purposes of this rule, the fingerprint retention fees required in section 560.143(2)(g), F.S, are Licensees initially approved on or after October 1, 2013, shall submit a nonrefundable fee of $12.00 for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, which is incorporated by reference in rule 69V-560.1012, F.A.C., to cover the costs of fingerprint retention. Failure to remit renewal fees as prescribed in section 560.141(2), F.S., and fingerprint retention fees as required in this paragraph by the license expiration date will automatically result in the license becoming expired. An expired license may be reinstated within 60 days following expiration pursuant to section 560.142, F.S.

    (3)(a) All fees required to be filed under this rule shall be filed electronically through the Office’s REAL System at www.flofr.com. Any person may request an exemption from the electronic filing requirements of this rule due to a technological or financial hardship by submitting Form OFR-560-08, Request for Exemption from Electronic Filing Requirements, to: Office of Financial Regulation, Division of Consumer Finance, Bureau of Registration, 200 East Gaines Street, Tallahassee, FL 32399-0376. The Office will provide any person granted an exemption from the electronic filing requirement with instructions on how to file the renewal fees in paper format. Form OFR-560-08 is incorporated by reference in rule 69V-560.1012, F.S. Licensees initially approved before October 1, 2013, shall submit fingerprints for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, for live-scan processing pursuant to section 560.141(1)(c)7., F.S. Such fingerprints must be submitted before renewing a license that is scheduled to expire between April 30, 2014, and December 31, 2015. The Office shall screen the background results to determine if the licensee meets licensure requirements. Any request for additional information must be received by the Office within forty-five (45) days from the date of the request. For purposes of this paragraph, each of the applicant’s control persons required to submit fingerprints shall submit such fingerprints to a live-scan vendor approved by the Florida Department of Law Enforcement and published on the Florida Department of Law Enforcement’s website (http://www.fdle.state.fl.us/Content/getdoc/941d4e90-131a-45ef-8af3- 3c9d4efefd8e/Livescan-Service-Providers-and-Device-Vendors.aspx) for submission to the Florida Department of Law Enforcement and the Federal Bureau of Investigation for a state criminal background check and a Federal criminal background check. The cost of the fingerprinting process shall be borne by the applicant and paid directly to the live scan vendor.

    (b) Licenses renewed pursuant to paragraph (a), shall submit a nonrefundable fee of $12.00 for each person currently listed in the records of the Office in question 5G of the Application for Licensure as a Money Services Business, OFR-560-01, to cover the costs of fingerprint retention. This requirement applies to licensees renewing licenses that expire on or after April 1, 2016 that were approved before October 1, 2013. Failure to remit renewal fees as prescribed in section 560.141(4), F.S., and fingerprint retention fees as required in this paragraph by the license expiration date will automatically result in the license becoming expired. An expired license may be reinstated within 60 days following expiration pursuant to section 560.142, F.S.

    (4) No change..

    Rulemaking Authority 560.105, 560.142, 560.143 FS. Law Implemented 560.142, 560.403, 560.141, 560.143 FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.302, Amended 7-15-07, 1-13-09, 1-2-14, __________.

     

     

    69V-560.504 Reimbursement Rates for Examinations Conducted by the Office.

    (1) No change..

    (2) Fees for examiner time shall be calculated at the rate of $25 per hour for each classification listed below: Fees for examiner time shall be calculated based on the direct compensation of the examiner conducting the examination. Rates will be assessed by examiner classification and shall be charged at the following rates:

    (a) Financial Examiner/Analyst I

    $28 per hour.

    (b) Financial Examiner Analyst II

    $30 per hour.

    (c) Financial Specialist

    $34 per hour.

    (d) Financial Control Analyst

    $35 per hour.

    (e) Financial Examiner Analyst Supervisor

    $37 per hour.

    (f) Area Financial Manager and above

    $42 per hour.

    (3) No change..

    (4) No change..

    (5) The Office will invoice licensees for the costs of the examination and licensees will have thirty (30) days from the date of the invoice to remit payment for invoiced expenses to the Office.

    Rulemaking Authority 560.105, 560.1091, 560.1092 FS. Law Implemented 560.1091, 560.1092, 560.109 FS. History–New 1-13-09, Amended__________.

     

     

     

    69V-560.602 Quarterly Reports.

    (1) Every money services business licensed pursuant to chapter 560, F.S., shall submit an a accurate quarterly report to the Office by filing a completed Form OFR-560-04, Money Services Business Quarterly Report Form, electronically through the Office’s REAL System at www.flofr.com which is incorporated by reference in rule 69V-560.1012, F.A.C. A completed quarterly report form shall be received by the Office no later than forty-five (45) days after the conclusion of each quarter. Should the forty-fifth day fall on a Saturday, Sunday or holiday, the reports must be received by the Office no later than the next business day. Form OFR-560-04 is incorporated by reference in rule 69V-560.1012, F.A.C. A report is “past due” if it is received by the Office one or more days beyond the period set forth in this rule.

    (2) Any person may request an exemption from the electronic filing requirements of this rule due to a technological or financial hardship by submitting Form OFR-560-08, Request for Exemption from Electronic Filing Requirements, to: Office of Financial Regulation, Division of Consumer Finance, Bureau of Registration, 200 East Gaines Street, Tallahassee, FL 32399-0376. The Office will provide any person granted an exemption from the electronic filing requirement with instructions on how to file the form in paper format. Form OFR-560-08 is incorporated by reference in rule 69V-560.1012, F.S.

    Rulemaking Authority 560.105, 560.118 FS. Law Implemented 560.118(2) FS. History–New 9-24-97, Amended 12-30-98, 11-4-01, Formerly 3C-560.602, Amended 7-15-07, 1-13-09,__________.

     

     

    69V-560.606 Annual Filing of Financial Audit Reports by Part II Licensees.

    (1) through (3) No change..

    (4) For purposes of adding new locations or authorized vendors, a Part II licensee may rely upon its annual financial audit reports that were received by the Office in a timely manner as required in subsections (1) and (2) of this rule. The Office reserves the right to require additional documentation up to and including the submission of interim financial audit reports financial statements to substantiate the licensee’s net worth.

    (5) Financial audit reports must be submitted through the Office’s REAL System at www.flofr.com. Any person may request an exemption from the electronic filing requirements of this rule due to a technological or financial hardship by submitting Form OFR-560-08, Request for Exemption from Electronic Filing Requirements, to: Office of Financial Regulation, Division of Consumer Finance, Bureau of Registration, 200 East Gaines Street, Tallahassee, FL 32399-0376. The Office will provide any person granted an exemption from the electronic filing requirement with instructions on how to file the financial audit report in paper format. Form OFR-560-08 is incorporated by reference in rule 69V-560.1012, F.S.

    Rulemaking Authority 560.105, 560.118, 560.205 FS. Law Implemented 560.118, 560.205 FS. History–New 11-4-01, Formerly 3C-560.606, Amended 7-15-07, 1-13-09,__________.

     

     

    69V-560.608 Currency Transaction Report Filings.

    Currency Transaction Reports, required by section 560.123, F.S., must be filed with FinCEN using FinCEN Form 112 104, which is incorporated by reference in rule 69V-560.1012, F.A.C. Reports filed in this manner shall be deemed to have also been filed with the Office.

    Rulemaking Authority 560.105, 560.123 FS. Law Implemented 560.123, 560.1235 FS. History–New 1-13-09, Amended__________.

     

    69V-560.609 Suspicious Activity Report Filings.

    (1) Pursuant to section 560.1235(1), F.S., licensees and authorized vendors must comply with all state and federal laws and rules relating to the detection and prevention of money laundering, including, as applicable, 31 C.F.R. s. 1022.320, effective November 4, 2016 31 C.F.R. s. 103.20 (2007), relating to reports by money services businesses of suspicious transactions. For purposes of section 560.1235(1), F.S., the federal law requirement to report suspicious transactions applies to the following money services businesses: payment instrument sellers that sell money orders or traveler’s checks, money transmitters, and foreign currency exchangers. These entities are required to report suspicious transactions to FinCEN using FinCEN Form 111 109, Suspicious Activity Report by Money Service Business, and failure to do so is a violation of section 560.1235, F.S.

    (2) Under federal law, check cashers may, but are not required to, file reports of suspicious transactions; however, pursuant to section 560.309(5), F.S., check cashers are required to report suspicious activity to the office or an appropriate regulator based on the criteria set forth in 31 C.F.R. s. 1022.320, effective 11/4/2016 31 C.F.R. 103.20 (2007). The Commission designates FinCEN as the appropriate regulator to receive such reports, which shall be submitted to FinCEN on FinCEN Form 111 109, Suspicious Activity Report by Money Service Business. Suspicious Activity Reports filed with FinCEN shall be deemed to have also been filed with the Office. Failure of a check casher to report suspicious activity to FinCEN is a violation of section 560.309(5), F.S.

    (3) FinCEN Form 111 109, Suspicious Activity Report by Money Service Business is incorporated by reference in rule 69V-560.1012, F.A.C. Federal regulation 31 C.F.R. s. 1022.320, effective November 4, 2016 31 C.F.R. 103.20 (2007) is hereby incorporated by reference and available at www.ecfr.gov on the Office’s website at www.flofr.com and by mail from the Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0376.

    (4) Check cashing transactions involving corporate payment instruments that exceed the check cashing limits established pursuant to rule 69V-560.704(4)(d)7., F.A.C. are deemed suspicious and require the check casher to file a suspicious activity report pursuant to this rule for each transaction.

    Rulemaking Authority 560.105, 560.123, 560.309 FS. Law Implemented 560.123, 560.1235, 560.309 FS. History–New 1-13-09,  Amended__________.

     

     

    69V-560.702 Payment Instrument Sellers.

    (1) No change.

    (a) through (c) No change.

    (2) For all transactions that exceed $3,000, the payment instrument seller shall also obtain and record the information required by 31 C.F.R. ss. 1010.415 103.29 (a)(2), effective March 1, 2011 as it existed on September 4, 2008. For purposes of this section multiple payment instruments purchased in one or more transactions on a single day shall be aggregated.

    (3) No change.

    (4) No change.

    (a) through (b) No change.

    (c) Office of Foreign Asset Control regulations: 31 C.F.R. Part 500; 31 C.F.R. s. 594.201; 31 C.F.R. s. 594.204; 31 C.F.R. s. 501.603; and 31 C.F.R. s. 501.604, effective March 1, 2011 as these regulations existed on as it existed on September 4, 2008.

    (d) Gramm-Leach-Bliley Act regarding protection of personal information: 15 U.S.C. ss. 6801 effective July 21, 2010, 6802 effective July 21, 2010, and 6803 effective December 4, 2015 (Thomson Reuter/West 2008) (current through P.L. 110-316) (excluding P.L. 110-234, 110-246, and 110-315).

    (e) No change.

    (5) No change.

    (6) Subpoenas, warrants, and other requests from regulatory, law enforcement, or prosecutorial agencies and records relating to training as required by