23718166, 69W-600.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 23718166

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Securities

Chapter:

REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS

Overview

RULE:

69W-600.001	Application for Registration as a Dealer (FINRA)
69W-600.0012	Application for Registration as a Dealer (Non-FINRA)
69W-600.0013	Application for Registration as an Issuer/Dealer (Repealed)
69W-600.0015	Canadian Dealer Notice-Filing
69W-600.0016	Application for Registration as an Investment Adviser (State Registered)
69W-600.0017	Notice-Filing for Federal Covered Advisers
69W-600.0019	Registration of Florida Limited Offering Intermediaries
69W-600.002	Application for Registration as Associated Person (FINRA Dealer)
69W-600.0022	Application for Registration as an Associated Person (Non-FINRA Dealer)
69W-600.0023	Application for Registration as an Associated Person (Issuer/Dealer) (Repealed)
69W-600.0024	Application for Registration as an Associated Person (Investment Adviser and Federal Covered Advisor)
69W-600.013	Prohibited Business Practices for Dealers and Their Associated Persons
69W-600.0131	Prohibited Business Practices for Investment Advisers and Their Associated Persons
69W-600.0132	Custody Requirements for Investment Advisers
69W-600.014	Books and Records Requirements

PURPOSE:

The purpose and effect is to amend the existing rules to incorporate by reference the current versions of forms and other materials incorporated by reference, to make a violation of SEC Rule 17a-14 (17 C.F.R. §240.17a-14) a prohibited business practice for dealers, to clarify investment adviser record requirements, to replace the terms “representative” and “investment adviser representative” for consistency, to clarify the grandfathering provisions of the exam requirements for the registration of investment advisers and their associated persons, to grant applicants for registration under chapter 517, Florida Statutes, an additional 30 days to submit requested information, to allow the Office to abandon an application if an applicant fails to provide timely additional information, and to remove duplicative language authorizing the Office to request certified documentation.

SUMMARY:

The proposed amended rules incorporate by reference the current versions of forms and other materials incorporated by reference, make a violation of SEC Rule 17a-14 (17 C.F.R. §240.17a-14) a prohibited business practice for dealers, clarify investment adviser record requirements, replace the terms “representative” and “investment adviser representative” for consistency, clarify the grandfathering provisions of the exam requirements for the registration of investment advisers and their associated persons, grant applicants for registration under chapter 517, Florida Statutes, an additional 30 days to submit requested information, allow the Office to abandon an application if an applicant fails to provide timely additional information, and remove duplicative language authorizing the Office to request certified documentation.

RULEMAKING AUTHORITY:

517.03(1), 517.12, 517.1201, 517.121, 517.1215, 517.1217, 517.1611, FS.

LAW:

517.081, 517.12, 517.1201, 517.121, 517.1215, 517.1217, 517.161, 517.1611, FS.

PRINT PUBLISH DATE:

10/2/2020 Vol. 46/193

COMMENTS:

From 10/2/2020 To 10/23/2020 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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