The purpose and effect is to amend the existing rule to allow an applicant for notification registration or shelf filing notice not in conflict with the provisions of section 517.082(3), Florida Statutes, to elect to file ....

 

DEPARTMENT OF FINANCIAL SERVICES

Securities

RULE NO.:RULE TITLE:

69W-800.001Filing - Notification Registration Including Shelf Filings

PURPOSE AND EFFECT: The purpose and effect is to amend the existing rule to allow an applicant for notification registration or shelf filing notice not in conflict with the provisions of section 517.082(3), Florida Statutes, to elect to file the required application and statutory fees through the North American Securities Administrators Association Electronic Filing Depository (EFD) and to specify when an application filed through either the EFD or Regulatory Enforcement and Licensing (REAL) system is deemed received.

SUMMARY: The proposed amended rule allows an applicant for notification registration or shelf filing notice not in conflict with the provisions of section 517.082(3), Florida Statutes, to elect to file the required application and filing fee through the EFD. An application filed through the REAL system shall be deemed received on the date the Office issues to the applicant a confirmation of submission and payment via the Office’s website. An application filed through the EFD shall be deemed received on the date the Office issues to the applicant a confirmation of submission and payment.

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 these rules.

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) FS.

LAW IMPLEMENTED: 517.082, 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, Office of General Counsel, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69W-800.001 Filing – Notification Registration Including Shelf Filings.

(1) An application for Notification Registration or a shelf filing not in conflict with the provisions of Section 517.082(3), F.S., shall be filed on the Uniform Application to Register Securities (Form U-1) electronically on the Office of Financial Regulation (Office) website at https://real.flofr.com through the Regulatory Enforcement and Licensing (REAL) System or through the North American Securities Administrators Association Electronic Filing Depository (EFD) at https://efdnasaa.org. An application filed through the REAL System shall be deemed received on the date the Office issues to the applicant a confirmation of submission and payment via the Office’s website. An application filed through the EFD shall be deeemed received on the date the Office issues to the applicant a confirmation of submission and payment. The application shall include all information required by such form and payment of the statutory fees, as required by Section 517.082, F.S. Exhibits which are required may not be incorporated by reference to previous filings. The application shall include:

(a) through (e) No change.

(2) through (5) No change.

Rulemaking Authority 517.03(1) FS. Law Implemented 517.082 FS. History–New 10-15-86, Amended 12-8-87, 7-31-91, 10-1-96, 10-20-97, Formerly 3E-800.001, Amended 11-22-10, 10-29-12, 9-22-14, 11-25-19,                                .

 

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

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

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: May 4, 2021

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: April 20, 2021