To update legal citations in the text and history of the rules; update forms, manuals, and federal regulations incorporated by reference; revise, clarify or delete language that is outdated, ambiguous, or unnecessary; and ....

 

DEPARTMENT OF FINANCIAL SERVICES

FSC - Financial Institution Regulation

RULE NOS.:RULE TITLES:

69U-100.003Definitions

69U-100.004Notification

69U-100.03852Disapproval of Directors or Executive Officers

69U-100.045Examination Manuals and Referenced Standards

69U-100.0451Unsafe and Unsound Examination Fees

69U-100.057Public Records Requests

69U-100.600Appraisals, and Appraisal Standards and Policies of State Financial Institutions

69U-100.948Reporting of Significant Events or Conditions

69U-100.956Conflict of Interest Policy

69U-100.963Automated Teller Machines and the Disclosure of Safety Information

69U-100.964Transactions Relating to Iran or Terrorism

PURPOSE AND EFFECT: To update legal citations in the text and history of the rules; update forms, manuals, and federal regulations incorporated by reference; revise, clarify or delete language that is outdated, ambiguous, or unnecessary; and to update agency mailing, email, and website addresses. The proposed rule amendments include those intended to respond to the findings and comments by the Joint Administrative Procedures Committee pursuant to its authority in Joint Rule 4.6 of the Florida Legislature to review existing rules.

SUMMARY: To amend Rule 69U-100.003, F.A.C. regarding international banking facilities to incorporate by reference the currently-effective federal rule containing the list of foreign, international, and supranational entities and to update citations; to amend Rule 69U-100.004, F.A.C. to update the agency’s address and add the agency’s email address to which notice of the intent to establish an international banking facility shall be sent; to amend Rule 69U-100.03852 to incorporate an updated Form OFR-U-10 Interagency Biographical and Financial Report, an updated addendum Form OFR-U-10A Authorization for Release of Confidential Information that permits online and electronic notarization, and to adopt and incorporate by reference a notice regarding the agency’s collection and use of social security numbers; to amend Rule 69U-100.045, F.A.C. to incorporate updated versions of the Federal Financial Institutions Examination Council Bank Secrecy Act/Anti-Money Laundering Examination Manual and the Federal Deposit Insurance Corporation RMS Manual of Examination Policies, and to add the Federal Financial Institutions Examination Council Information Technology Examination Handbook on Information Security and the Federal Financial Institutions Examination Council Cybersecurity Assessment Tool; to amend Rule 69U-100.0451, F.A.C. to clarify the agency’s procedure for imposing costs the agency incurs in conducting examinations of unsafe and unsound financial institutions and the fines for a financial institution’s late payment of such costs; to amend Rule 69U-100.057, F.A.C. regarding requests for public records of failed financial institutions to delete processes and language that duplicate statutory provisions in Chapter 119, F.S., and existing agency policies; to amend Rule 69U-100.600, F.A.C. to increase the total loan value appraisal exemption to $400,000 from $250,000; to amend Rule 69U-100.948 to update the agency’s mailing address and add the agency’s email address for reporting significant events or conditions; to amend Rule 69U-100.956, F.A.C. regarding conflicts of interest to clarify the definition of “family relationship” for agency employees, to update the incorporated ethical standards of the Office of Financial Regulation and the Department of Financial Services for agency employees, and to clarify the types of discipline applicable to violations of the standards; to amend Rule 69U-100.963, F.A.C. to delete unnecessary language regarding safety precautions financial institutions must disclose to automated teller machine customers; and to amend Rule 69U-100.964, F.A.C. to incorporate the updated federal standards for due diligence policies, procedures, and controls regarding transactions relating to Iran or terrorism.

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 completed the SERC analysis and checklist for each proposed rule to determine the need for a SERC. Based on this information at the time of the analysis and pursuant to section 120.541, F.S., the rules will not require legislative ratification.

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: 655.012(2), 655.0385(4), 655.071(3), 655.60(2), 655.963, 655.968 FS.

LAW IMPLEMENTED: 220.63(5), 655.0385, 655.045, 655.057(2), 655.071(3), 655.60, 655.948, 655.963, 655.968, 658.21, 658.33 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: Leslie Bryson, Senior Attorney, Division of Financial Institutions, [phone], [e-mail].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69U-100.003 Definitions.

For purposes of rule 69U-100.004, this chapter, the following definitions apply:

(1) “International banking facility deposit,” or “IBF time deposit,” means a deposit, placement, borrowing or similar obligation represented by a promissory note, acknowledgement of advance, or similar instrument that is not issued in negotiable or bearer form and which can be in currencies other than U.S. dollars; and,

(a)1.No change.

2. That is issued to:

a. through d. No change.

e. A foreign national government, or an agency or instrumentality thereof (other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof) engaged principally in activities which are ordinarily performed in the United States by governmental entities; an international entity of which the United States is a member; or any other foreign, international or supranational entity sSpecifically designated by the Federal Reserve Board as exempt from 12 C.F.R. § 204.125 (9-1-2020), http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, adopted and incorporated herein by reference and also available at the OFR’s website at www.flofr.com; 12 U.S.C. §217.7; or

(b) No change.

(2) International Banking Facility Borrowing or “IBF Borrowing” means borrowing represented by a promissory note, acknowledgement of advance or similar instrument that is not issued in negotiable or bearer form.

(a)1. No change.

2. That is issued to:

a. through b. No change.

c. A United States office or a non-United States office of the entity establishing the IBF; or

d. Another IBF; or

e. An institution whose time deposits are exempt from interest rate limitations under Section 217.3(g) of Regulation Q (12 C.F.R. 217.3(g)); or

(b)1. through-3. No change.

(3) “International banking facility extension of credit,” or “IBF loan,” means any transaction where an IBF supplies funds by making a loan, or placing funds in a deposit account. Such transactions may be represented by a promissory note, security, acknowledgement of advance, due bill, repurchase agreement, or any other form of credit transaction. Such credit may be extended only to:

(a) through (d) No change.

(e) A foreign national government, or an agency or instrumentality thereof (other than states, provinces, municipalities, or other regional or local governmental units or agencies or instrumentalities thereof) engaged principally in activities which are ordinarily performed in the United States by governmental entities; an international entity of which the United States is a member; or any other foreign, international or supranational entity sSpecifically designated by the Federal Reserve Board as exempt from 12 C.F.R. § 204.125 (9-1-2020), incorporated herein by reference; 12 U.S.C. §217.7; or

(f) No change.

(4) Solely for the purpose of section 220.63(5), F.S., pursuant to express statutory authority of sections 655.071(2) and 220.62(3), F.S., the terms “banking facility deposits,” “borrowings,” and “extensions of credit,” fall within the general definition of the terms “loans to foreign persons,” “deposits with to foreign persons,” and “foreign exchange trading and hedging transactions,” as such terms are used in section 220.63(5)(b)1., F.S. Further, solely for the purpose of section 220.62(3), 220.63(5), F.S., the terms “banking facility deposits,” “borrowings,” and “extensions of credit,” include, without limitation, the following transactions:

(a) through (i) No change.

(5) No change.

(a) All transactions by and between banking organizations, as defined in section sections 220.62(4), 220.63(1) and (4), F.S., provided that the income from such transactions is derived by non-United States banking organizations; and,

(b) No change.

Rulemaking Authority 120.53(1)(a), 220.62(3), 655.012(2)(3), 655.071 663.13 FS. Law Implemented 220.62(3), 220.63(5), 655.071 FS. History–New 1-24-82, Amended 1-30-84, Formerly 3C-17.02, Amended 5-27-87, Formerly 3C-17.002, 3C-100.003, Amended         .

 

69U-100.004 Notification.

(1) At least 14 days prior to establishing an International Banking Facility, a state chartered or state licensed banking organization shall notify the Office of Financial Regulation (OFR) of its intent.

(2) Such notification shall include a statement of intention by the banking organization that it will comply with the Financial Services Commission rules pertaining to International Banking Facilities and Federal International Banking Facility regulations concerning restrictions on sources and uses of funds, recordkeeping, and accounting requirements.

Notification shall should be sent by U.S. Mail or Email to:

Deputy Director, Division of Financial Institutions

Office of Financial Regulation

200 East Gaines Street

Tallahassee, Florida 32399-0371.

[e-mail]

Rulemaking Authority 655.012(2)(3), 655.071(3) 663.13 FS. Law Implemented 655.071(3) FS. History–New 4-25-85, Formerly 3C-17.03, 3C-17.003, 3C-100.004, Amended        .

 

69U-100.03852 Disapproval of Directors or Executive Officers.

(1) No change.

(2) Notice.

(a) A financial institution shall provide a complete written notice to OFR at least 60 days prior to the effective date of the appointment of a director or the employment of an executive officer, or equivalent position. Each notice shall include a completed Form OFR-U-10 Interagency Biographical and Financial Report, (effective __/____), revised 3/2003, http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, which is adopted and hereby incorporated herein by reference. Form OFR-U-10 requests that the applicant provide his or her social security number. Please refer to the OFR’s Notice Regarding the Collection and Use of Social Security Numbers (effective __/____), http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, adopted and incorporated herein by reference. Form OFR-U-10 must be accompanied by a completed Form OFR-U-10A, Addendum, Authorization for Release of Confidential Information (effective __/____), http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, adopted and incorporated herein by reference. Notices shall be submitted to, and Forms Form OFR-U-10 and OFR-U-10A may be obtained by request from, the Division of Financial Institutions, Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0371, Telephone [phone]. The forms and the Notice Regarding the Collection and Use of Social Security Numbers are Form OFR-U-10 may also available be found at OFR’s website, www.flofr.com. Internet website: http://www.dbf.state.fl.us/banking.html by using the icon “Download Office of Financial Regulation Application Forms” and by selecting the icon “OFR-U-10.”

(b) through (c) No change.

(3) through (5) No change.

Rulemaking Authority 655.012(2), 655.0385(4) FS. Law Implemented 655.0385, 658.21, 658.33, 665.013 FS. History–New 12-14-93, Amended 3-20-00, 12-28-00, 2-3-02, Formerly 3C-100.03852, Amended 9-11-18,          .

 

69U-100.045 Examination Manuals and Referenced Standards.

The OFR uses the examination manuals referenced by this rule in the implementation of its examination responsibilities. The OFR examiners use these manuals as reference guidelines when conducting safety and soundness examinations of financial institutions. The material incorporated by reference in this rule may also be obtained from the OFR’s website at www.flofr.com. The following manuals are hereby incorporated by reference into the body of printed materials that the OFR uses for the purposes of conducting examinations of financial institutions to assess the performance and condition of such institutions:

(1) Federal Financial Institutions Examination Council, Bank Secrecy Act/Anti-Money Laundering Examination Manual (4/2020), (2014), accessible at https://www.flrules.org/Gateway/reference.asp?No=Ref- XXXXX. 05581.

(2) Federal Deposit Insurance Corporation, RMS Manual of Examination Policies (8/2020), (4/2018), accessible at http://www.flrules.org/Gateway/reference.asp?No=Ref- XXXXX. 09661.

(3) through (6) No change.

(7) Federal Financial Institutions Examination Council, Information Technology Examination Handbook, Information Security (9/2016), accessible at http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX.

(8) Federal Financial Institutions Examination Council, Cybersecurity Assessment Tool (5/2017), accessible at http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX.

Rulemaking Authority 655.012(2) FS. Law Implemented 655.045 FS. History–New 10-24-93, Formerly 3C-1.015, Amended 1-2-95, 6-4-95, 5-22-96, Formerly 3C-100.045, Amended 9-2-10, 7-27-15, 12-9-15, 9-11-18,         .

 

69U-100.0451 Unsafe and Unsound Examination Fees.

(1) Pursuant to paragraph 655.045(1)(b), F.S., OFR shall:

(a) Assess any state financial institution, subsidiary, or service corporation determined by OFR to be engaged in an unsafe and unsound practice with the costs of any review conducted pursuant to section 655.045(1)(a), F.S.; and,

(b) Recover the costs of the review conducted pursuant to section 655.045(1)(a), F.S., of any affiliate of a state financial institution which OFR concludes contributed to an unsafe and unsound practice at a state financial institution, subsidiary, or service corporation.

(c) In making a determination to assess any costs pursuant to section 655.045(1)(c)(b), F.S., OFR must consider the size and condition of the financial institution, the gravity of the violation, the prior conduct of the person(s) and institution involved, the time elapsed between the last state examinations, and the extent to which a material improvement has occurred in the condition of the financial institution, subsidiary, or service corporation, including, but not limited to, a change in ownership or management, or infusion of additional capital.

(2)(a) An unsafe and unsound practice means any practice or conduct found by OFR to be contrary to generally accepted standards applicable to the Specific financial institution, subsidiary, or service corporation, or a violation of any prior order of a state or federal regulatory agency, which practice, conduct, or violation creates the likelihood of loss, insolvency, or dissipation of assets or otherwise prejudices the interest of the specific financial institution or its depositors or members.

(b) A financial institution found to have unsafe and unsound practices has an immoderate volume of serious financial weaknesses or a combination of other conditions that are unsatisfactory. Major and serious problems or unsafe and unsound conditions may exist which are not being satisfactorily addressed or resolved. These conditions could reasonably develop into a situation that could impair future viability and constitute a threat to the interest of depositors or members. Such a financial institution requires close supervisory attention and financial surveillance and a definitive plan for corrective action.

(3) For the purposes of this section, “costs” means the salary and travel expenses directly attributable to the field staff examining the financial institution, subsidiary, or service corporation, and the travel expenses of any supervisory staff required as a result of examination findings. The salary and travel expenses of any field staff person in training shall be excluded from the calculation.

(2)(4) OFR shall give notice Notification to the financial institution, subsidiary, service corporation, or affiliate of the costs incurred. The notification shall must contain the notice of opportunity for a hearing pursuant to sections section 120.569 and 120.57, F.S. A request for hearing must be received by OFR within 21 days of receipt of such notification by the financial institution. If the financial institution, subsidiary, service corporation, or affiliate does not timely request a hearing, no hearing is requested, mailing of the payment of the costs incurred must be postmarked not later than 30 days after the date of receipt of the notification notice that such costs are due.

(3)(5) OFR shall levy a late payment of $100 per day or part thereof that a payment of the costs incurred is overdue, unless it is excused for good cause due to incidental and isolated clerical omissions or other minor errors. or is being reviewed by OFR for possible waiver due to incidental and isolated clerical errors or omissions.

(4)(6) If the financial institution, subsidiary, service corporation, or affiliate timely requests a hearing on the notification pursuant to sections section 120.569 and 120.57, F.S., no fines for late payment of the costs incurred shall begin to accrue until 31 30 days after following issuance of a final administrative order ruling. requiring payment of costs incurred or the exhaustion of all judicial appeals, whichever occurs later. Failure to remit payment on the 31st day shall constitute intentional late payment, and OFR shall levy an administrative fine of $1,000 per day for each day the payment of costs incurred is overdue.

(7) If the financial institution, subsidiary, service corporation, or affiliate fails to respond to the notification of examination assessment within the time allowed in subsection (4), such failure constitutes a default and fines shall accrue from that time.

(8) Failure to remit the examination assessment within 30 days following the final ruling shall constitute intentional late payment and OFR shall levy an administrative fine of $1,000 per day for each day the payment is overdue.

Rulemaking Authority 120.53(1)(b), 655.012(2)(3) FS. Law Implemented 120.57, 655.005(1), 655.012(3), 655.045(1) FS. History–New 6-11-96, Formerly 3C-100.0451, Amended         .

 

69U-100.057 Public Records Requests.

This rule contains information concerning requests for access to public records regarding failed state financial institutions.

(1) As used in this rule, section, the following definitions shall apply:

(a) “Condition reports” means a Consolidated Report of Condition or Consolidated Report of Income in the case of a commercial bank, trust company, or international agency, a Thrift Financial Report in the case of a savings association, or a call report in the case of a credit union, submitted to OFR in compliance with section 655.045(2), F.S.

(a)(b) “Examination reports” means a Report of Examination conducted and prepared by OFR, pursuant to section 655.045(1)(a), F.S. “Examination report” does not include reports of examination prepared by any other state or appropriate federal regulatory agency, unless the department has received prior approval from such agency to release its examination reports. Any request to produce reports of examination conducted by any other state or federal regulatory agency (except those examination reports for which OFR has received prior approval to release) shall be made directly to such other state or federal agency.

(b)(c) “Failed state financial institution” means a state financial institution that has been declared by OFR to be insolvent and a receiver, liquidator, or conservator has been appointed to wind up the affairs of the state financial institution.

(c)(d) “Operation reports” means any audit report submitted to OFR pursuant to section 655.045(1)(e)(d), F.S.

(2) OFR recommends (but does not require) that all requests for access to public records of the OFR be in writing, signed by the requestor, and addressed to the Deputy Director, Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0371. Such requests should state with Specificity the name of the state financial institution, the time period covered by the request, the type of information that is requested, and any other applicable information.

(3) All requests for access to public records shall be honored on a first in, first out basis and in as timely a manner as possible. Generally, all requests will be honored within a reasonable period of time after receipt of the request, as determined by staff availability, accessibility of records, and the volume of information requested.

(4) Unless otherwise determined by OFR, the public may inspect public records during regular business hours at the Tallahassee headquarters of OFR. No original document or public record file may be removed from OFR’s premises.

(5) All photocopies of public records shall be made by OFR staff and OFR shall collect in advance a per page charge for each photocopy provided. OFR may also recover from any requester the actual cost of reviewing and preparing documents, retrieving records, preparing photocopies, or other costs incurred in complying with the public record request.

(2)(6) Pursuant to section 655.057(2)(g), F.S., Aaccess to OFR records concerning failed state financial institutions is limited to examination, and operation, or condition reports that have not previously been destroyed by OFR pursuant to section 655.057(10)(8), F.S. Prior to public release of any such records, OFR shall review the failed state financial institution’s examination, and operation, or condition reports and OFR shall prepare a public record file. The public file will not include information which is the property of any other state or federal regulatory agency, unless OFR has received prior approval from such agency to release its information. Additionally, the public file will not include information which discloses the identities of depositors, bondholders, members, borrowers, or stockholders, other than directors, officers or controlling stockholders of the failed state financial institution.

Rulemaking Authority 655.012(2) FS. Law Implemented 655.057(2) FS. History–New 11-1-92, Amended 4-23-96, Formerly 3C-100.057, Amended          .

 

69U-100.600 Appraisals, and Appraisal Standards and Policies of State Financial Institutions.

(1) No change.

(2) At a minimum, the appraisal standards and policies shall require that an appraisal prepared by a state-certified or state-licensed appraiser must be obtained prior to funding any loan or extension of credit that is based on the security of real estate, except:

(a) Loans with a total value of $400,000 $250,000 or less;

(b) through (i) No change.

(3) through (4) No change.

Rulemaking Authority 655.012(2)(3), 655.60(2) FS. Law Implemented 655.60 FS. History–New 11-2-92, Amended 9-27-94, 11-7-01, Formerly 3C-100.600, Amended         .

 

69U-100.948 Reporting of Significant Events or Conditions.

(1) Section 655.948, F.S., requires state financial institutions, not exempted by OFR, to report the occurrence of certain conditions or events within 30 days of the occurrence of the condition or event. Aggregate monthly reports that are received by OFR by the 10th day of each month, covering all reportable events or occurrences that occurred during the previous month, will satisfy the reporting requirements of this section 655.948, F.S. All reports required by this rule shall be submitted by U.S. Mail or Email to: Director, Division of Financial Institutions, Office of Financial Regulation, 200 East Gaines Street, Tallahassee, Florida 32399-0371, [e-mail]. A report will not be required if a reportable event or condition did not occur during the previous month.

(2) through (3) No change.

(4) All non-exempt state financial institutions shall disclose to OFR, within the timeframes specified in subsection (1), the following events or conditions:

(a) through (c) No change.

(d) The acquisition or divestiture of an asset or related or similar assets, which in the aggregate on any single business day totals 20 percent or more of the state financial institution’s capital reported in the most recent Consolidated Report of Condition, quarterly Thrift Financial Report, or Call Report. Assets listed in section 657.042(1) or 658.67(1), F.S., are exempted from this requirement;

(e) No change.

(f) Any extension of credit to an executive officer or his related interests that, when aggregated with other extensions of credit to that executive officer or his related interests, exceeds 15 percent of the state financial institution’s capital accounts as reported in the most recent Consolidated Report of Condition, quarterly Thrift Financial Report, or Call Report;

(g) The acquisition or reclassification of any earning asset to “non-accrual” status which, when combined with other non-accrual assets, in the aggregate totals 15 percent 15% or more of the state financial institution’s assets as reported in the most recent Consolidated Report of Condition, quarterly Thrift Financial Report, or Call Report; or

(h) No change.

(5) through (6) No change.

Rulemaking Authority 655.012(2) FS. Law Implemented 655.948 FS. History–New 11-2-92, Amended 6-20-00, 12-28-00, Formerly 3C-100.948, Amended 9-11-18,           .

 

69U-100.956 Conflict of Interest Policy.

(1) Definitions. – As used in this rule, the following definitions shall apply:

(a) through (b) No change.

(c) “Family relationship” means any individual who is related to the regulatory employee by affinity or consanguinity, including but not limited to the regulatory employee’s: father, mother, son, daughter, brother, sister, uncle, aunt, first cousin, nephew, niece, husband, wife, father-in-law, mother-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, stepfather, stepmother, stepson, stepdaughter, stepsister, stepbrother, half brother, half sister, grandparent, great-grandparent, grandchild, great-grandchild, step-grandparent, step-great-grandparent, step-grandchild, step-great-grandchild, person who is engaged to be married to the regulatory employee or who otherwise holds himself or herself out as or is generally known as the person to whom the regulatory employee intends to marry or with whom the regulatory employee intends to form a household, or any other natural person having the same legal residence as the regulatory employee.

(d) No change.

(2) No change.

(3) Regulatory employees shall be provided a copy of this rule, chapter 112, part III, F.S.,; Office of Financial Regulation Administrative Policies & Procedures 1-2, Ethics and Professional Responsibility, effective 05-20-2013 (OFR APP 1-2), http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, adopted and incorporated herein by reference and Department of Financial Services Code of Ethics, Administrative Policies & Procedures 1-15, effective 10-28-2009 (DFS APP 1-15), http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, adopted and incorporated herein by reference. The foregoing materials are also available at the OFR’s website, www.flofr.com. the Official Procedures of the Department of Banking and Finance, Discipline of Career Service Employees, Standards and Procedures, Effective: January 10, 1984. Each regulatory employee is responsible for ensuring that, as applicable, they are in compliance with the principles of conduct set forth herein, chapter 112, part III, F.S., OFR APP 1-2, and DFS APP 1-15. the Department’s Discipline of Career Service Employees, Standards and Procedures.

(4) Any regulatory employee violating this rule, chapter 112, part III, F.S., OFR APP 1-2, or DFS APP 1-15, the Official Procedures of the Department of Banking and Finance, Discipline of Career Service Employees, Standards and Procedures, Effective: January 10, 1984, will be subject to one or more of the following disciplinary penalties:, which may include divestment or suspension of conflicting interests, changes in assigned duties, disqualification for a particular assignment, written or oral reprimand, demotion, suspension, or termination of employment.

(5) No regulatory employee shall engage in any activity, whether or not sSpecifically prohibited by this rule, which would result in, or create the appearance of:

(a) through (e) No change.

(6) through (14) No change.

Rulemaking Authority 655.012(2)(3) FS. Law Implemented 655.012(3) FS., Ch. 92-303, s.76, Laws of Fla. Section 76, Chapter 92-303, Laws of Florida. History–New 12-23-92, Formerly 3C-100.956, Amended          .

 

69U-100.963 Automated Teller Machines and the Disclosure of Safety Information.

(1) through (2) No change.

(3) The guidelines contained in subsection (2), are not an all-inclusive list of safety precautions which should be disclosed to automated teller machine customers. It is offered to exemplify some of the safety disclosure issues which should be included in the mandated disclosure requirements of section 655.963, F.S.

Rulemaking Authority 120.53(1)(b), 655.012(2)(3), 655.963 FS. Law Implemented 655.963 FS. History–New 1-31-95, Formerly 3C-100.963, Amended          .

 

69U-100.964 Transactions Relating to Iran or Terrorism.

Florida state-chartered financial institutions shall comply with the federal standards set out by the U.S. Treasury Department, Office of Foreign Assets Control, in 31 C.F.R. Part 561, Subparts B, C, and D, (2010), http://www.flrules.org/Gateway/reference.asp?No=Ref-XXXXX, which are adopted and incorporated by reference, as the minimum standards for due diligence policies, procedures, and controls as required by section 655.968, F.S. The standards are also available at the OFR’s website, www.flofr.com.

Rulemaking Authority 655.012(2), 655.968 FS. Law Implemented 655.968 FS. History–New 8-6-12, Amended          .

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Jeremy W. Smith, Director, Division of Financial Institutions

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

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: September 22, 2020

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: August 27, 2020