The purpose of the proposed amendment to Rule 69V-560.303 is to repeal subsection (3) of the rule, which requires part II registrants under chapter 560, Florida Statutes, to file unaudited financial statements in conjunction with applications to renew part II registrations. Part II of Chapter 560, F.S., relates to Payment Instruments and Funds Transmission under the Money Transmitters’ Code. The requirement regarding unaudited financial statements, however, is in addition to a compliance requirement that requires these same registrants to file, annually, audited financial statements with the Office within 90-days of the registrants fiscal year end. Given the significant overlap in the regulatory purpose behind each requirement, the Office proposes to repeal the requirement regarding filing unaudited financial statements during the application renewal process. The repeal will relieve registrants of an unnecessary regulation and the fiscal impact of having to comply with both regulations. Technical corrections are also made.