Purpose


The rules are proposed for amendment to clearly state the forms required for the registration of securities; broaden the types of offerings to be all-inclusive and increase consumer protection; allow companies to determine voting rights of common stock when coupled with adequate disclosure; provide disclosure protections to allow the decision-making to be on the investor; disallow the transfer of options and warrants issued to underwriters to anyone outside of the underwriter; limit the number of shares covered by the underwriter's options and warrants to 10% of shares actually sold; define parameters to provide increased investor protections; add a definition for institutional investor; remove provisions duplicative of statute; incorporate contents and remove cross-reference to another rule; add disclosure language; remove discretion of the Office; repeal Rule 69W-700.028, F.A.C.; and update references to incorporated material to 69W-200.002, F.A.C.