The purpose and effect is to conform the rules to Chapter 2023-205, Laws of Florida, to toll the time period for abandoning an application filed with the Office for registration as a Financial Industry Regulatory Authority ....

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NOS.:RULE TITLES:

69W-600.001Application for Registration as a Dealer (FINRA)

69W-600.0011Effect of Law Enforcement Records on Applications for Registration as Dealer, Issuer/Dealer, Intermediary, or Investment Adviser

69W-600.0012Application for Registration as a Dealer (Non-FINRA)

69W-600.0013Application for Registration as an Issuer/Dealer

69W-600.0015Canadian Dealer Notice-Filing

69W-600.0016Application for Registration as an Investment Adviser (State Registered)

69W-600.0017Notice-Filing for Federal Covered Advisers

69W-600.0019Registration of Florida Intrastate Crowdfunding Intermediaries

69W-600.002Application for Registration as Associated Person (FINRA Dealer)

69W-600.0022Application for Registration as an Associated Person (Non-FINRA Dealer)

69W-600.0023Application for Registration as an Associated Person (Issuer/Dealer)

69W-600.0024Application for Registration as an Associated Person (Investment Adviser and Federal Covered Advisor)

69W-600.0033Notice Filing of Branch Office (Issuer/Dealer)

69W-600.012Rules of Conduct

69W-600.013Prohibited Business Practices for Dealers and Their Associated Persons

69W-600.0131Prohibited Business Practices for Investment Advisers and Their Associated Persons

69W-600.0132Custody Requirements for Investment Advisers

69W-600.0133Use of Senior - Specific Certifications and Professional Designations by Associated Persons and Investment Advisers

69W-600.014Books and Records Requirements

69W-600.0151Net Capital and Financial Reporting Requirements for Dealers and Issuer/Dealers

69W-600.0161Net Capital and Financial Reporting Requirements for Investment Advisers

69W-600.017Customer Protection Rule - Reserve Requirements and Custody of Customer Funds and Securities

PURPOSE AND EFFECT: The purpose and effect is to conform the rules to Chapter 2023-205, Laws of Florida, to toll the time period for abandoning an application filed with the Office for registration as a Financial Industry Regulatory Authority (“FINRA”) member dealer, to clarify how applicants for registration as associated persons of investment advisers or federal covered advisers may satisfy exam requirements, to clarify the requirements for written confirmations of transactions and to remove a redundant section concerning a dealer’s net worth, to include a violation of Regulation Best Interest as a prohibited business practice and incorporate it within the books and records requirements, to define “supervised person” for purposes of custody requirements, to incorporate revised forms, to clarify that Rule 69W-600.0133, Florida Administrative Code, concerns “senior-specific professional designations, to correct typos, to specify how an independent certified public accountant is to provide notice to the Office, and to use consistent terms.

SUBJECT AREA TO BE ADDRESSED: Securities Regulation.

RULEMAKING AUTHORITY: 517.03, 517.12, 517.121, 517.1201, 517.1215, 517.1217, 517.1611, FS.

LAW IMPLEMENTED: 517.081, 517.12, 517.1201, 517.121, 517.1215, 517.1217, 517.161, 517.201, 517.301, FS.

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

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Ryann White, Office of General Counsel, [phone], [e-mail].

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