Subject


The Trustees of the State Board of Administration of Florida will consider proposed amendments to the following rules and will be asked for permission to file a Notice of Proposed Rulemaking for these rules, and to file these rules for adoption if no member of the public timely requests a rule hearing: Rule 19-3.016, Executive Director; Rule 19-3.0161, Investment Responsibilities of the Executive Director;Rule 19-3.097, Designation of Official Reporter; Rule 19-3.099, Plan; Rule 19-3.100 Format for Final Order. These amendments are being proposed to update and clarify information; to set forth the authority of the Executive Director & CIO to bring suit, file claims or take any other legal actions or proceedings in the name SBA; to provide that the Executive Director may execute, or delegate the authority to execute, final orders issued pursuant to Chapter 120, Florida Statutes; to provide that the Executive Director & CIO may to take whatever actions that will provide full transparency and accountability in the fulfillment of the SBA’s fiduciary duties; to make it clear that Investment Policy Statements must be submitted to the Investment Advisory Council for review; to clarify that Final Orders are to be obtained from the Agency Clerk of the State Board of Administration; and to repeal unnecessary rules.