The Office proposes to repeal current financial reporting rules 69W-300.002 and 69W-600.015 and net capital rule 69W-600.016, to be replaced by proposed new consolidated net capital/financial reporting rules 69W-600.0151 and 69W-600.0161 for dealers/...

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-300.002Financial Statements and Reports

PURPOSE AND EFFECT: The Office proposes to repeal current financial reporting Rules 69W-300.002 and 69W-600.015, F.A.C., and net capital Rule 69W-600.016, F.A.C., to be replaced by proposed new consolidated net capital/financial reporting Rules 69W-600.0151 and 69W-600.0161, F.A.C., for dealers/issuer-dealers and investment advisers, respectively. The purpose and effect of these changes are to remove outdated requirements, implement clearer requirements as to financial reporting and calculation of net capital, and improve rule organization by consolidating rules on the same subject while creating separate rules by registration type.

SUBJECT AREA TO BE ADDRESSED: Securities Registration.

RULEMAKING AUTHORITY: 517.03 FS.

LAW IMPLEMENTED: 517.081, 517.12 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: John Kim, [phone], [e-mail]; Meredith Stanfield, [phone], [e-mail]

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