69W-301.002: Processing of Applications
PURPOSE, EFFECT AND SUMMARY: Rule 69W-301.002, F.A.C., is being amended to adopt the latest versions of the Form ADV, Uniform Application for Investment Adviser Registration (9/2011), and Form BD, Uniform Application for Broker-Dealer Registration (1/2008). Form ADV is the uniform form used by investment advisers to register with both the Securities and Exchange Commission (SEC) and state securities regulators through the Investment Adviser Registration Depository (IARD). Form BD is the uniform form used by broker-dealers to register with the SEC and state securities regulators through the Central Registration Depository (CRD). The SEC’s approval and adoption of the Form ADV may be found in 76 Fed. Reg. 138, 42950 (July 19, 2011). The SEC's approval and adoption of Form BD may be found in 73 Fed. Reg. 18, 4690 (January 28, 2008). The proposed changes do not require legislative ratification.
RULEMAKING AUTHORITY: 517.03(1), 517.12, 517.1201, 517.081(2), 517.082(4) FS.
LAW IMPLEMENTED: 120.60(1), 517.051, 517.075, 517.081, 517.082, 517.12, 517.161(5) FS.
THIS RULEMAKING IS UNDERTAKEN PURSUANT TO SECTION
120.54(6), F.S. WRITTEN COMMENTS MAY BE SUBMITTED WITHIN 14 DAYS OF THE DATE OF THIS NOTICE TO: Rob Vandiver, Chief Counsel, Division of Securities, (850)410-9707, robert.vandiver@flofr.com
SUBSTANTIALLY AFFECTED PERSONS MAY WITHIN 14 DAYS OF THE DATE OF THIS NOTICE, FILE AN OBJECTION TO THIS RULEMAKING WITH THE AGENCY. THE OBJECTION SHALL SPECIFY THE PORTIONS OF THE PROPOSED RULE TO WHICH THE PERSON OBJECTS AND THE SPECIFIC REASONS FOR THE OBJECTION.
THE FULL TEXT OF THE PROPOSED RULE IS:
69W-301.002 Processing of Applications.
(1) through (6) No change.
(7)(a) The forms referred to in this section below are incorporated by reference and readopted by this rule for the purposes of Rule Chapters 69W-100 through 69W-900, F.A.C.:
1. through 5. No change.
6. Form BD, Uniform Application for Broker-Dealer Registration (1/2008), effective_________, http://www.flrules. org/Gateway/reference.asp?No=Ref-01021 (5/2002), effective 11-22-10;
7. Form ADV, Uniform Application for Investment Adviser Registration (9/2011), effective_______, http://www.flrules.org/Gateway/reference.asp?No=Ref-01020 (1/2008), effective 11-22-10;
8. through 15. No change.
(b) No change.
(c) Social security number. The following forms contain a field that allows, but does not require, an individual to submit his or her social security number: Form ADV, Uniform Application for Investment Adviser Registration (9/2011) (1/2008); Form U-4, Uniform Application for Securities Industry Registration or Transfer (5/2009); and Form U-5, Uniform Termination Notice for Securities Industry Registration (5/2009). If provided, an individual’s social security number will be used by the Office of Financial Regulation to facilitate the identification of the individual to obtain the required criminal justice information, which may expedite the processing of the forms. Social security numbers obtained through the submission of the above-listed forms are subject to the confidentiality provisions of Section 119.071(5), F.S.
(d) No change.
PROPOSED EFFECTIVE DATE APRIL 23, 2012
Rulemaking Authority 517.03(1), 517.12, 517.1201, 517.081(2), 517.082(4) FS. Law Implemented 120.60(1), 517.051, 517.075, 517.081, 517.082, 517.12, 517.161(5) FS. History–Revised and Transferred from 3E-300.01, 9-20-82, Formerly 3E-301.02, Amended 10-15-86, 2-1-87, 12-8-87, 7-29-90, 7-31-91, 6-16-92, 1-10-93, 3-13-94, 10-1-96, 10-23-97, 6-22-98, 6-10-99, 5-7-00, 7-10-02, Formerly 3E-301.002, Amended 3-16-06, 6-10-07, 11-22-10, 4-23-12.