The purpose and effect is to amend the existing rule to incorporate by reference CUBA FORM, Disclosure of Business Activities in Cuba Form, Effective 11/22/10.

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-900.001Disclosure of Business Activities in Cuba

PURPOSE AND EFFECT: The purpose and effect is to amend the existing rule to incorporate by reference CUBA FORM, Disclosure of Business Activities in Cuba Form, Effective 11/22/10.

SUMMARY: The amended rule will incorporate by reference and make available for public access through an electronic hyperlink CUBA FORM, Disclosure of Business Activities in Cuba Form, Effective 11/22/10. Additionally, the proposed rule amendment deletes reference to Rule 69W-301.002, Florida Administrative Code.

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: 517.075, FS.

LAW IMPLEMENTED: 517.075 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, [phone], [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69W-900.001 Disclosure of Business Activities in Cuba.

(1) through (2) No change.

(3) The Office of Financial Regulation’s CUBA FORM, Disclosure of Business Activities in Cuba Form, Effective 11/22/10, which is hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, in subsection 69W-301.002(7), F.A.C., and available from the Office of Financial Regulation, shall be used to notify the Office of Financial Regulation of any business or change in business as required by subsection (3) of section 517.075, F.S.

(a) through (b) No change.

Rulemaking Authority 517.075 FS. Law Implemented 517.075 FS. History–New 8-17-92, Formerly 3E-900.001, Amended 11-22-10, 9-22-14,                         .

 

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