During the regular 2009 legislative session, the Florida Legislature passed House Bill 483, relating to investor protection. The bill was signed into law on June 29, 2009, and took effect on July 1, 2009. A key provision of the new law is a requirement that the Financial Services Commission adopt disciplinary guidelines for each ground for which disciplinary action may be imposed by the Office of Financial Regulation against individuals and firms that are subject to regulation under Chapter 517, Florida Statutes, the Florida Securities and Investor Protection Act. The rule implements this statutory requirement.