Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69V - Finance › Chapter 69V-559 - FINANCIAL TECHNOLOGY SANDBOX › Section 69V-559.102 - Application or Appointment Procedures and Requirement

Current through Reg. 50, No. 138; July 16, 2024
(1) To apply for licensure as a Financial
				Technology Sandbox Innovator, an applicant must submit:
(a) An Application for Licensure as a
				Financial Technology Sandbox Innovator, Form OFR-559-FTS-001;
(b) The initial application fee ($375)
				required by Section 560.143(1)(a),
				F.S., if the applicant indicates on the application that it intends to offer a
				product or service under Chapter 560, F.S.; or,
(c) The initial application fee ($625) and
				investigation fee ($200) required by Section
				516.03(1),
				F.S., if the applicant indicates on the application that it intends to offer a
				product or service under Chapter 516, F.S.; or,
(d) The initial application fee required by
				paragraphs (b) and (c) above, if the applicant indicates on the application
				that it intends to offer a product or service under both Chapters 560 and 516,
				F.S.;
(e) If the applicant
				indicates on the application that it intends to offer a product or service
				under Chapter 560, F.S., each person listed in question 5D of the Application
				for Licensure as a Financial Technology Sandbox Innovator, Form
				OFR-559-FTS-001, must submit fingerprints through a live-scan vendor approved
				by the Florida Department of Law Enforcement. A list of approved vendors is
				published on the Florida Department of Law Enforcement's website at
http://www.fdle.state.fl.us/Criminal-History-Records/Documents/InternetDoc_ServiceProviders.aspx
.
				Such fingerprints will be submitted to the Florida Department of Law
				Enforcement for a state criminal background check and the Federal Bureau of
				Investigation for a federal criminal background check. The cost of the
				fingerprinting process shall be borne by the applicant and paid directly to the
				live-scan vendor. Fingerprinting is not required if the applicant is publicly
				traded as prescribed in Section 560.141(1)(c)6., F.S.
(f) Request for Additional Information. The
				Office shall review all application information submitted by the applicant for
				completeness and to determine whether sufficient information exists to evaluate
				the factors in Section
				559.952(5)(c),
				F.S. If the Office identifies additional information is needed, the Office will
				contact the applicant via email within thirty (30) days after receipt of the
				application with the requested information. The additional information must be
				received by the Office within forty-five (45) days from the date of the
				request.
1. The Office will grant a request
				for an additional forty-five (45) days to submit the additional information
				provided the request is received before the expiration of the initial
				forty-five (45) day period.
2.
				Failure to timely provide all additional information shall result in the
				application being deemed abandoned, which will result in the application being
				removed from further consideration by the Office and
				closed.
(g) Withdrawal of
				Application. An application may be withdrawn if the applicant submits a request
				through the REAL system (
https://real.flofr.com/
) before the
				application is approved or denied.
(h) Amendments to Pending Applications. If
				the information contained in any application form for licensure as a Financial
				Technology Sandbox Innovator, or in any amendment thereto, becomes inaccurate
				for any reason, the applicant shall promptly file an amendment correcting such
				information on Form OFR-559-FTS-001.