8891619, 69W-1000.001 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 8891619

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Securities

Chapter:

DISCIPLINARY GUIDELINES

Overview

RULE:

69W-1000.001

Disciplinary Guidelines

PURPOSE:

Section 517.1611(1), F.S., requires the Financial Services Commission to adopt disciplinary guidelines for each ground for which disciplinary action may be imposed by the Office of Financial Regulation against individuals and firms that are subject to regulation under Chapter 517, F.S., the Florida Securities and Investor Protection Act. The proposed rule implements this statutory requirement.

SUMMARY:

The proposed rule sets forth disciplinary guidelines for each ground for which disciplinary action may be imposed by the Office of Financial Regulation against individuals and firms that are subject to regulation under Chapter 517, F.S., the Florida Securities and Investor Protection Act. Each violation of any provision of Chapter 517, F.S., or the rules adopted under the rulemaking authority of Chapter 517, F.S., constitutes a ground for disciplinary action by the Office. The level of sanction imposed for each violation of a ground for disciplinary action is reflected in the disciplinary guidelines. A list of aggravating and mitigating factors is provided in the rule. These factors will be used to determine the appropriate level of sanction within the range of sanctions provided in the disciplinary guidelines. These factors will also be used when determining whether a deviation from the range of sanctions prescribed in the disciplinary guidelines is warranted.

RULEMAKING AUTHORITY:

517.1611(1) FS.

LAW:

517.1611(1) FS.

PRINT PUBLISH DATE:

8/20/2010 Vol. 36/33

COMMENTS:

From 8/20/2010 To 9/10/2010 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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