11033379, 69T-1.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 11033379

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Office of Financial Regulation

Chapter:

Organizational Structure of the Office of Financial Regulation

Overview

RULE:

69T-1.001

Organizational Structure

PURPOSE:

Section 20.121(3), F.S., sets forth the powers and general organizational structure of the Office of Financial Regulation. Section 20.121(3)(a)1., F.S., requires the Office of Financial Regulation to have a Bureau of Financial Investigations. Pursuant to Section 20.121(3)(b), F.S., the Financial Services Commission is required to establish any additional structure for the office that it believes is necessary to promote efficiency and accountability. The Office's current organizational structure is set forth in Rule 69T-1001, F.A.C. The proposed amendments update the rule to reflect changes to the organizational structure that will promote efficiency and accountability. Among other things, the rule amendments rename organizational units to more accurately reflect their function and focus, and the amendments consolidate two units in the finance area to streamline operations.

SUMMARY:

The rule amendments reflect changes to the organizational structure of the Office of Financial Regulation that will promote efficiency and accountability. Within the Division of Securities, the Bureau of Securities Regulation, is renamed the Bureau of Enforcement, and the Bureau of Regulatory Review is renamed the Bureau of Registration. Within the Division of Finance, the Bureau of Finance Regulation is renamed the Bureau of Enforcement and the Bureau of Regulatory Review is renamed the Bureau of Registration. In addition, the Division of Finance is renamed to the Division of Consumer Finance. The Bureau of Money Transmitter Regulation within the current Division of Finance is eliminated and its functions are being merged into the Division of Consumer Finance, Bureau of Enforcement. The Office of Legal Services is renamed the Office of the General Counsel. The rule amendments also reflect an Office of Communications, which shall be headed by a director.

RULEMAKING AUTHORITY:

20.121(3)(b) FS.

LAW:

20.121(3)(b) FS.

PRINT PUBLISH DATE:

3/30/2012 Vol. 38/13

COMMENTS:

From 3/30/2012 To 4/20/2012 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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