7313332, 69V-560.1021 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 7313332

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

MONEY TRANSMITTERS

Overview

RULE:

69V-560.1021

Effect of Law Enforcement Records on Applications for Money Services Business Licensure

PURPOSE:

Persons seeking licensure as a money services business under Chapter 560, Florida Statutes, must disclose to the Office of Financial Regulation any pending criminal charges and all criminal matters in which the applicant has pled guilty or nolo contendere to, or has been convicted or found guilty, regardless of whether adjudication was withheld, of any crime. These requirements also apply to the relevant persons of an applicant (e.g., officers, directors, control persons, etc.) The rules require the submission of certain documentation relating to the applicant’s law enforcement record. Currently, the rules provide that the omission of any part of a law enforcement record that is required under the rules to be disclosed is deemed a material misrepresentation or material misstatement on the license application. The purpose of the proposed rule amendments is to clarify that the omission of any “material” part of a law enforcement record is a material misrepresentation or material misstatement on the license application.

SUBJECT:

Money Services Businesses.

RULEMAKING AUTHORITY:

560.105 FS.

LAW:

112.011, 560.114, 560.1401, 560.141 FS.

PRINT PUBLISH DATE:

6/26/2009 Vol. 35/25

RELATED STATUTES
AND LAWS:

560.105 FS., 112.011, 560.114, 560.1401, 560.141 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=69V-560.1021&PDate=6/26/2009&Section=1

REFERENCE MATERIALS:

No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.