6511433, 69V-560.1000 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 6511433

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

MONEY TRANSMITTERS

Overview

RULE:

69V-560.1000

Disciplinary Guidelines

PURPOSE:

During the regular 2008 legislative session, the Florida Legislature passed Senate Bill 2158, relating to money services businesses. The bill was signed into law on June 17, 2008, and will take effect on January 1, 2009. This law makes significant changes to Chapter 560, Florida Statutes. The new law imposes additional regulatory requirements on money services businesses including money transmitters, payment instrument sellers, foreign currency exchangers, check cashers, and deferred presentment providers. The law also requires the Commission to adopt disciplinary guidelines for each ground for which disciplinary action may be imposed by the Office of Financial Regulation against a money services business under Chapter 560, F.S. The rule implements this statutory requirement.

SUMMARY:

The rules sets forth disciplinary guidelines applicable to money services businesses for violations of Chapter 560, F.S.

RULEMAKING AUTHORITY:

560.105, 560.1141 FS.

LAW:

560.109, 560.110, 560.111, 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.125, 560.126, 560.128, 560.204, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.309, 560.310, 560.403, 560.404, 560.405, 560.406 FS.

PRINT PUBLISH DATE:

12/19/2008 Vol. 34/51

COMMENTS:

From 12/19/2008 To 1/9/2009 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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