20546751, 69U-100.005 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 20546751

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

FSC - Financial Institution Regulation

Chapter:

FINANCIAL INSTITUTIONS GENERALLY

Overview

RULE:

69U-100.005	Florida Control of Money Laundering and Terrorist Financing in Financial Institutions
69U-100.03852	Disapproval of Directors or Executive Officers
69U-100.045	Examination Manuals and Referenced Standards
69U-100.948	Reporting of Significant Events or Conditions

PURPOSE:

The OFR proposes to substantially amend Rule 69U-100.005, F.A.C., to conform to and implement legislative amendments to Section 655.50, Florida Statutes (“F.S.”), the Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act.  In particular, the proposed amendment updates the rule’s title, the currency transaction reporting process and forms, and citations to federal regulations, and adds a new subsection regarding requirements and forms for reporting suspicious activity.

The OFR also proposes to amend Rule 69U-100.03852, F.A.C., to conform to recent legislative changes to Sections 658.21 and 658.33, F.S., which governs the qualification requirements for officers and directors of banks and trust companies; Rule 69U-100.045, F.A.C., to incorporate the most recent Federal examination manuals, which have been updated since they were last incorporated; and Rule 69U-100.948, F.A.C., which governs Reporting of Significant Events or Conditions, to delete references to, and requirements of, Section 658.68, F.S., and Rule 69U-120.680, F.A.C., as this statute and rule no longer exist.  In addition, the OFR proposes to make amendments to each rule for consistency and clarity.

SUMMARY:

The OFR proposes to substantially amend Rule 69U-100.005, F.A.C., to conform to and implement legislative amendments to Section 655.50, Florida Statutes (“F.S.”), the Florida Control of Money Laundering and Terrorist Financing in Financial Institutions Act; Rule 69U-100.03852, F.A.C., to conform to recent legislative changes to Sections 658.21 and 658.33, F.S.; Rule 69U-100.045, F.A.C., to incorporate the most recent Federal examination manuals; and Rule 69U-100.948, F.A.C., which governs Reporting of Significant Events or Conditions, to delete references to, and requirements of, a repealed rule and statute.  In addition, the OFR proposes to make amendments to each rule for consistency and clarity.

RULEMAKING AUTHORITY:

655.012(2), 655.0385(4), 655.50(5) FS.

LAW:

655.045, 655.948, 655.0385, 658.21, 658.33, 665.013, 655.50 FS.

PRINT PUBLISH DATE:

6/14/2018 Vol. 44/116

COMMENTS:

From 6/14/2018 To 7/5/2018 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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