Summary


The rules are amended to conform the Rules to Chapter 2023-205, Laws of Florida, which amended chapter 517, Florida Statutes, to: 1) no longer require the registration of issuers or their associated persons; and 2) to remove “demonstrations of unworthiness” as a grounds for denying an application for registration or for revoking, restricting, or suspending a registration, to toll the time period for abandoning an application filed with the Office for registration as a Financial Industry Regulatory Authority (“FINRA”) member dealer until FINRA has made a determination on its application where the applicant has simultaneously applied for FINRA membership, to clarify how applicants for registration as associated persons of investment advisers or federal covered advisers may satisfy exam requirements, to clarify the requirements for written confirmations of transactions and to remove a redundant section concerning a dealer’s net worth, to include a violation of Regulation Best Interest as a prohibited business practice and incorporate it within the book and record requirements, to define “supervised person” for purposes of custody requirements, to incorporate revised forms, to clarify that Rule 69W-600.0133, Florida Administrative Code, concerns “senior-specific professional designations, to correct typos, to specify how an independent certified public accountant is to provide notice to the Office upon its resignation or dismissal from, or other termination of, the engagement, or upon removing itself or being removed from consideration for being reappointed, and to use consistent terms.