The purpose and effect is to amend the existing rules to incorporate by reference the current version of SEC Form X-17A-5, FOCUS Report, and other materials incorporated by reference, to clarify how applicants for registration ....

 

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, or Investment Adviser

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

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

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

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-600.0031Notice-Filing of Branch Office (FINRA Dealer)

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

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

PURPOSE AND EFFECT: The purpose and effect is to amend the existing rules to incorporate by reference the current version of SEC Form X-17A-5, FOCUS Report, and other materials incorporated by reference, to clarify how applicants for registration as associated persons of investment advisers or federal covered advisers may satisfy exam requirements, to use consistent terminology throughout the rule chapter, to remove superfluous language, to correct a spelling error, to require financial statements to be submitted to the Office through an electronic portal, to allow associated persons of Financial Industry Regulatory Authority (FINRA) member firms who elect to participate in the FINRA Maintaining Qualifications Program (MQP) to satisfy exam requirements, to include intermediaries in the definition of “applicant” for purposes of general procedures regarding law enforcement records as such procedures relate to application review, and to add in missing language clarifying that for FINRA dealer branch offices not designated as an Office of Supervisory Jurisdiction (OSJ), FINRA dealers must specify the OSJ and the supervisor(s) at the specified OSJ that supervise(s) the branch office.

SUBJECT AREA TO BE ADDRESSED: Securities Regulation

RULEMAKING AUTHORITY: 517.03(1), 517.12, 517.1202, 517.121, 517.1215, 517.1611(2), FS.

LAW IMPLEMENTED: 517.12, 517.1202, 517.121, 517.1215, 517.161, 517.201, 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.