14550696, 69W-700.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 14550696

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Securities

Chapter:

REGISTRATION OF SECURITIES

Overview

RULE:

69W-700.001	Registration of Securities
69W-700.002	Filing of Prospectus
69W-700.005	Promoters Equity Investment Ratio
69W-700.006	Voting Rights
69W-700.007	Options or Warrants Granted Underwriters
69W-700.008	Options and Warrants to Officers, Employees and Others
69W-700.010	Preferred Stock or Debt Securities
69W-700.014	Real Estate Investment Trusts (REIT)
69W-700.015	Offering Price of Equity Securities
69W-700.026	Unsound Financial Condition
69W-700.028	Small Corporate Offering Registration (Repealed)

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.

SUMMARY:

See above.

RULEMAKING AUTHORITY:

517.03 FS.

LAW:

517.081(3), (5), (7) FS.

PRINT PUBLISH DATE:

5/19/2014 Vol. 40/97

COMMENTS:

From 5/19/2014 To 6/9/2014 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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