The purpose and effect is to repeal this rule to improve organization. Provisions and forms incorporated by reference in this rule have been moved to the rule(s) in which they apply.

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-301.002Processing of Applications and Notice-Filings

PURPOSE AND EFFECT: The purpose and effect is to repeal this rule to improve organization. Provisions and forms incorporated by reference in this rule have been moved to the rule(s) in which they apply.

SUMMARY: This rule is proposed to be repealed to improve organization. The following forms are no longer in use or duplicative of other forms incorporated by reference in division 69W rules: OFR-S-5-91, Uniform Consent to Service of Process, effective 11-22-10; OFR-S-6-91, Corporate Resolution, effective 11-22-10; OFR-S-10-91, Report of Sales of Securities and Use of Proceeds Therefrom, effective 11-22-10; OFR-S-3-91, Notification Registration, effective 11-22-10; Form U-2A, Uniform Corporate Resolution, effective 10-1-96; OFR-S-14-97, Promotional Shares Escrow Agreement, effective 11-22-10.

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 economic impact conducted by persons with subject matter knowledge of this rule.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 517.03(1), 517.12, 517.1201, 517.081(2), 517.082(4) FS.

LAW IMPLEMENTED: 120.60(1), 517.051 , 517.075, 517.081, 517.082, 517.12, 517.1202, 517.161(5) 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: Ryann White, Division of Securities, [e-mail], [phone]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69W-301.002 Processing of Applications and Notice-Filings.

Rulemaking Authority 517.03(1), 517.12, 517.1201, 517.081(2), 517.082(4) FS. Law Implemented 120.60(1), 517.051 ,517.075, 517.081, 517.082, 517.12, 517.1202, 517.161(5) FS. History–Revised and Transferred from 3E-300.01, 9-20-82, Formerly 3E-301.02, Amended 10-15-86, 2-1-87, 12-8-87, 7-29-90, 7-31-91, 6-16-92, 1-10-93, 3-13-94, 10-1-96, 10-23-97, 6-22-98, 6-10-99, 5-7-00, 7-10-02, Formerly 3E-301.002, Amended 3-16-06, 6-10-07, 11-22-10, 4-26-12, 11-14-13, Repealed           .

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Alisa G. Goldberg, Acting Director, Division of Securities

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: July 25, 2019

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: June 20, 2019