The Office of Financial Regulation (OFR) proposes to amend this rule to change the organizational structure of the OFR, Division of Financial Institutions, to consolidate the Bureau of Bank Regulation District I and Bureau of Bank Regulation ...

Notice of Proposed Rule

 

DEPARTMENT OF FINANCIAL SERVICES

Indexing Agency Orders

RULE NO.:RULE TITLE:

69T-1.001Organizational Structure

PURPOSE AND EFFECT: The Office of Financial Regulation (OFR) proposes to amend this rule to change the organizational structure of the OFR, Division of Financial Institutions, to consolidate the Bureau of Bank Regulation District I and Bureau of Bank Regulation District II into one bureau to be called the Bureau of Bank Regulation.

SUMMARY: The proposed amendment changes the organizational structure of the OFR.

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: 20.121(3)(b) FS.

LAW IMPLEMENTED: 20.055(2), 20.121(3)(b) 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: Jodi-Ann V. Livingstone, Chief Counsel, Division of Financial Institutions, [phone], [e-mail]

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69T-1.001 Organizational Structure.

(1) The following organizational units are established in the Office of Financial Regulation:

(a) through (b) No change.

(c) Division of Financial Institutions, which shall include the following bureaus:

1. Bureau of Bank Regulation District I,

2. Bureau of Bank Regulation District II,

2.3. Bureau of Credit Union Regulation.

(d) through (g) No change.

(2) through (7) No change.

Rulemaking Authority 20.121(3)(b) FS. Law Implemented 20.055(2), 20.121(3)(b) FS. History–New 1-3-07, Amended 5-29-12,              .

 

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: August 16, 2017

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: July 11, 2017