Summary


The proposed rules impose additional recordkeeping requirements on money services businesses; require compliance with federal anti-money laundering regulations; require compliance with the protection of personal information provisions of the Gramm-Leach-Bliley Act; revise bonding requirements for money transmitters and payment instrument sellers; prescribe procedures for collecting the cost of state or third party conducted examinations from licensees; prescribe reimbursement rates for examinations conducted by third parties and state examiners; reflect statutory changes to license fees, renewal fees, and other fees required to be submitted to the Office pursuant to Chapter 560, Florida Statutes; require electronic submission of fees and state forms to the Office; require money services businesses to file currency transaction reports, suspicious activity reports and reports of international transportation of currency or monetary instrument with FinCEN; and revise licensing requirements.