RULE NO: RULE TITLE
69V-560.102: Application Forms, Procedures and Requirements
69V-560.104: Application Fees
69V-560.105: Regulatory Standards for Evaluating Applications
69V-560.107: Registration of Locations and Authorized Vendors
69V-560.108: Declaration of Intent to Engage in Deferred Presentment Transactions
69V-560.302: Renewal Fees, Deadlines, and Requirements
69V-560.403: Net Worth
69V-560.602: Quarterly Reports
69V-560.606: Annual Filing of Financial Statements by Part II Registrants
69V-560.702: Payment Instrument Sellers
69V-560.703: Funds Transmitters
69V-560.704: Records to Be Maintained by Check Cashers
69V-560.705: Foreign Currency Exchangers
69V-560.706: Records to be Maintained by Authorized Vendors
69V-560.707: Records to be Maintained by Deferred Presentment Providers
69V-560.801: Verification Fee
69V-560.802: Minimum Disclosure
69V-560.804: Payment Method
69V-560.805: Gross Income Test
69V-560.903: Deferred Presentment Transactions
69V-560.904: Transaction Agreement Disclosures and Requirements
69V-560.905: Transaction Fees
69V-560.906: Consumer Credit Counseling Services
69V-560.907: Database Access
69V-560.908: Database Transaction Requirements
69V-560.909: Database Availability
69V-560.910: Database Transaction Fees
69V-560.911: Database Dispute Resolution for Customers
69V-560.912: Database Confidentiality
PURPOSE AND EFFECT: 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 Office of Financial Regulation will be holding rule workshops in Tallahassee (July 21, 2008), Orlando (July 23, 2008), and Ft. Lauderdale (July 25, 2008) to develop rules to implement the new law. In addition to the existing rules under Rule Chapter 69V-560, F.A.C., that will be amended to reflect the new law, additional rules will be developed to implement disciplinary action guidelines, requirements relating to third-party contractors for examinations, etc.
SUBJECT AREA TO BE ADDRESSED: Money Services Businesses.
SPECIFIC AUTHORITY: 215.405, 560.105, 560.1091, 560.1092, 560.110, 560.1141, 560.118, 560.123, 560.126, 560.128, 560.142, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.309, 560.310, 560.403, 560.404 FS.
LAW IMPLEMENTED: 215.405, 560.103, 560.105, 560.109, 560.1091, 560.1092, 560.110, 560.111, 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.126, 560.127, 560.128, 560.129, 560.140, 560.141, 560.142, 560.204, 560.205, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.304, 560.309, 560.310, 560.402, 560.403, 560.404 FS.
A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: July 21, 2008, 1:00 p.m. – 5:00 p.m.
PLACE: The Larson Building, Room 116, 200 E. Gaines Street, Tallahassee, FL 32399
DATE AND TIME: July 23, 2008, 1:00 p.m. – 5:00 p.m.
PLACE: Florida Office of Financial Regulation, First Floor Conference Room (Room A), 400 W. Robinson St., Hurston South Tower, Orlando, FL 32801-1799
DATE AND TIME: July 25, 2008, 9:00 a.m. – 1:00 p.m.
PLACE: Florida Department of Transportation, Operations Auditorium, 5548 N.W. 9th Avenue, Ft. Lauderdale, FL 33309
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 3 days before the workshop/meeting by contacting: Mike Ramsden, Chief, Money Transmitter Regulation, Office of Financial Regulation, The Fletcher Building, 200 East Gaines Street, Tallahassee, Florida 32399, (850)410-9805, firstname.lastname@example.org. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Mike Ramsden, Chief, Money Transmitter Regulation, Office of Financial Regulation, The Fletcher Building, 200 East Gaines Street, Tallahassee, Florida 32399, (850)410-9805, email@example.com. The preliminary draft will be posted on the Office of Financial Regulation’s website (www.flofr.com) once it becomes available
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.