reglab/statecodes huggingface dataset:
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0024 - Application for Registration as an Associated Person (Investment Adviser and Federal Covered Advisor)

Current through Reg. 50, No. 138; July 16, 2024
(1) New
				Applications.
(a) Applicants for registration
				as an associated person of investment advisers and federal covered advisers
				shall file the Uniform Application for Securities Industry Registration or
				Transfer (Form U4) electronically through the Central Registration Depository
				(CRD) of the Financial Industry Regulatory Authority (FINRA) as prescribed by
				the Financial Services Commission (Commission). The application shall include
				all information required by such form, any other information the Office of
				Financial Regulation (Office) may require, and payment of the statutory fees
				required by Section 517.12(9), F.S.
				The application shall be deemed received by the Office on the date designated
				in the "Status Date" field on the line notated "FL" with a "Registration
				Status" of "pending" as indicated on the CRD "Registrations with Current
				Employers" screen. Every application or amendment filed pursuant to this rule
				shall constitute a "written application" within the meaning of Section
				517.12(5),
				F.S.
(b) An application shall
				include the following:
1. Form U4 (05/2009). A
				sample form is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-12573
.
2. Statutory fee, for each application, in
				the amount as required by Section
				517.12(9),
				F.S.
3. Persons requesting a fee
				waiver as set forth in Section
				517.12(9),
				F.S., shall submit Office of Financial Regulation Active Military
				Member/Veteran/Spouse Fee Waiver and Military Service Verification, Form
				OFR-MIL-001, effective 09/2018. A sample form is hereby incorporated by
				reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-09913
.
				Form OFR-MIL-001 shall be submitted within one hundred eighty (180) days after
				receipt of the application.
4.
				Evidence of examinations/qualifications set forth in subsection (6) of this
				rule.
5. Fingerprints shall be
				submitted in accordance with Section
				517.12(6),
				F.S., and subsection (7) of this rule.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.003 - Multiple Registration (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03 FS. Law Implemented 120.53,
					 517.12(1), (4) FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.03, Amended
					 8-1-91, 5-5-94, 7-31-02, Formerly 3E-600.003, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0031 - Notice-Filing of Branch Office (FINRA Dealer)

Current through Reg. 50, No. 138; July 16, 2024
(1) New Notice-Filings.
(a) Every Florida branch office of a broker
				dealer registered in Florida shall be notice-filed with the Office of Financial
				Regulation (Office) prior to engaging in business therefrom. A broker dealer
				must be registered with the Office before its branch offices may notice-file.
				Branches of dealers who are members of the Financial Industry Regulatory
				Authority (FINRA) shall file the Uniform Branch Office Registration Form (Form
				BR) electronically through the Central Registration Depository of FINRA (CRD)
				as prescribed by the Financial Services Commission (Commission). The
				notice-filing shall include all information required by such form, any other
				information the Office may require, and payment of the statutory fees required
				by Section 517.1202(2),
				F.S. The notice-filing fee shall be deemed received by the Office on the
				transaction date (Trans DT) reflected on the Central Registration Depository of
				FINRA (CRD) "disbursement detail" report.
(b) A notice-filing shall include the
				following:
1. Form BR (04/2014). A sample form
				is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-06080
.
2. Statutory fee in the amount required by
				Section 517.1202(2),
				F.S.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0032 - Notice-Filing of Branch Office (Non-FINRA Dealer)

Current through Reg. 50, No. 138; July 16, 2024
(1) New Notice-Filing.
(a) Every Florida branch office of a dealer
				registered in Florida shall be notice-filed with the Office of Financial
				Regulation (Office) prior to engaging in business therefrom. A broker dealer
				must be registered with the Office before its branch offices may notice-file.
				Branches of dealers that are not members of Financial Industry Regulatory
				Authority (FINRA) shall file the Uniform Branch Office Registration Form (Form
				BR) electronically on the Office's website at
https://real.flofr.com
through the
				Regulatory Enforcement and Licensing (REAL) System as prescribed by the
				Financial Services Commission (Commission). The notice-filing shall include all
				information required by such form, any other information the Office may
				require, and payment of the statutory fees required by Section
				517.1202(2),
				F.S. The notice-filing shall be deemed received on the date the Office issues a
				confirmation of submission and payment to the applicant via the Office's
				website.
(b) A notice-filing shall
				include the following:
1. Form BR (04/2014),
				which is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-06080
.
2. Statutory fee in the amount required by
				Section 517.1202(2),
				F.S.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0033 - Notice Filing of Branch Office (Issuer/Dealer) (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1), 517.1202 FS. Law
					 Implemented 517.12(8), 517.1202 FS.
New 12-29-15, Amended 11-26-19, Repealed
					 3-21-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0034 - Notice-Filing of Branch Office (Investment Adviser)

Current through Reg. 50, No. 138; July 16, 2024
(1) New Notice-Filings.
(a) Every Florida branch office of an
				investment adviser registered in Florida shall be notice-filed with the Office
				of Financial Regulation (Office) prior to engaging in business therefrom. An
				investment adviser must be registered with the Office before its branch offices
				may notice-file. Branches of an investment adviser shall file the Uniform
				Branch Office Registration Form (Form BR) electronically through the Central
				Registration Depository (CRD) of the Financial Industry Regulatory Authority
				(FINRA) as prescribed by the Financial Services Commission (Commission). The
				notice-filing shall include all information required by such form, any other
				information the Office may require, and payment of the statutory fees required
				by Section 517.1202(2),
				F.S. The notice-filing shall be deemed received by the Office on the
				transaction date (Trans DT) reflected on the CRD "disbursement detail"
				report.
(b) A notice-filing shall
				include the following:
1. Form BR (04/2014). A
				sample form is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-06080
.
2. Statutory fee in the amount required by
				section 517.1202(2),
				F.S.
3. Person(s)-in-charge must be
				registered as set forth in Rule
				69W-600.0024,
				F.A.C.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.004 - Registration of Issuer/Dealers and Principals and Notice-Filing of Branch Offices (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1), 517.12(6), 517.1202 FS. Law
					 Implemented 517.12(5), (6), (10), 517.1202
					 FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.04, Amended
					 10-14-90, 6-16-92, 1-11-93, 11-7-93, 11-14-93, 12-29-96, 10-20-97, 6-10-99,
					 8-19-99, 5-27-01, 7-31-02, Formerly 3E-600.004, Amended 3-16-06, 5-15-07,
					 11-22-10, 10-29-12, 11-11-13, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.005 - Examinations/Qualifications (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.12(8) FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.05, Amended
					 8-1-91, 1-11-93, 4-18-96, 4-2-00, 10-30-03, Formerly 3E-600.005, Amended
					 11-22-10, Repealed 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.006 - Fingerprint Requirements (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 215.405, 517.03 FS. Law Implemented
					 517.12(7), 943.053 FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.06, Amended
					 8-1-91, Formerly 3E-600.006, Amended 5-15-07, 12-24-07, 12-25-08, 11-22-10,
					 5-29-12, 11-11-13, 9-22-14, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.007 - Changes in Name and Successor Registration Requirements (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1), 517.12(13) FS. Law
					 Implemented 517.12(13) FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.07(4),
					 Amended 10-15-86, 12-8-87, 8-1-91, 6-16-92, 1-11-93, 6-22-98, 8-9-98, 6-10-99,
					 5-10-00, 7-31-02, Formerly 3E-600.007, Amended 3-16-06, 11-22-10, 11-11-13,
					 Repealed 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.008 - Termination of Registration as Dealer, Investment Adviser, Principal or Agent, or Notification of Branch Office (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.12(12)(b), 517.161(5) FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.08, Amended
					 7-29-90, 8-1-91, 6-16-92, 1-11-93, 6-22-98, 6-10-99, 5-10-00, 5-27-01, Formerly
					 3E-600.008, Amended 3-16-06, 11-22-10, 10-29-12, 11-11-13, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.009 - Registration and Notice-Filing Renewals (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1), 517.12(6), (15), 517.1202
					 FS. Law Implemented 517.12(6), (10), (11),
					 (15),
					 517.1202
					 FS.
New 12-5-79, Amended 9-20-82, 8-29-83, Formerly 3E-600.09,
					 Amended 1-7-88, 6-16-92, 11-14-93, 2-5-01, 5-27-01, Formerly 3E-600.009,
					 Amended 5-15-07, 11-22-10, 11-11-13, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0091 - Central Registration Depository System (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03, 517.12(15), 517.1202 FS. Law
					 Implemented 517.12(10), (11), (15), 517.1202
					 FS.
New 8-29-83, Formerly 3E-600.091, Amended 8-1-91, 6-16-92,
					 4-30-96, 9-19-00, Formerly 3E-600.0091, Amended 5-15-07, 11-22-10, 11-11-13,
					 Repealed 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0092 - Investment Adviser Registration Depository for Federal Covered Advisers (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03, 517.12(6), (15), 517.1201 FS.
					 Law Implemented 517.1201
					 FS.
New 7-31-02, Formerly 3E-600.0092, Amended 3-16-06,
					 5-15-07, 11-22-10, 11-11-13, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0093 - Investment Adviser Registration Depository for Investment Advisers (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03, 517.12(6), (15), 517.1202 FS.
					 Law Implemented 517.12(10), (11),
					 (15),
					 517.1202
					 FS.
New 7-31-02, Formerly 3E-600.0093, Amended 3-16-06,
					 5-15-07, 11-22-10, 11-11-13, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.010 - Notice of Civil, Criminal or Administrative Action (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03 FS. Law Implemented 517.12(6),
					 (12), 517.161 FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.10, Amended
					 9-19-00, Formerly 3E-600.010, Amended 11-22-10, Repealed
					 12-29-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.012 - Rules of Conduct

Current through Reg. 50, No. 138; July 16, 2024
(1)
(a) Confirmation of Transactions: Every
				dealer registered in this state shall give or send to the customer a written
				confirmation at or before completion of each transaction. Such confirmation
				shall set forth at least the following:
1. A
				description of the security purchased or sold, the date of the transaction, the
				price at which the security was purchased or sold and any commission
				charged;
2. A description of the
				designation of capacity in which the dealer was acting: as principal for its
				own account, as agent for the customer, as agent for some other person, or as
				agent for both the customer and some other person;
3. If the dealer acted as agent for the
				customer, the name of the contraparty and whether like commissions were
				charged.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0132 - Custody Requirements for Investment Advisers

Current through Reg. 50, No. 138; July 16, 2024
(1) Definitions. For purposes of this rule:
(a) "Custody" means holding directly or
				indirectly, client funds or securities, or having any authority to obtain
				possession of them or has the ability to appropriate them. The investment
				adviser has custody if a related person holds, directly or indirectly, client
				funds or securities, or has any authority to obtain possession of them, in
				connection with advisory services the investment adviser provides to clients.
1. Custody includes:
a. Possession of client funds or securities
				unless the investment adviser receives them inadvertently and returns them to
				the sender promptly, but in any case within three business days of receiving
				them,
b. Any arrangement (including
				a general power of attorney) under which the investment adviser is authorized
				or permitted to withdraw client funds or securities maintained with a custodian
				upon the investment adviser's instruction to the custodian; and,
c. Any capacity that gives the investment
				adviser or the investment adviser's supervised person legal ownership of or
				access to client funds or securities (including, but not limited to, a general
				partner of a limited partnership, a managing member of a limited liability
				company or a comparable position for any type of pooled investment vehicle, or
				a trustee of a trust).
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0133 - Use of Senior - Specific Certifications or Senior-Specific Professional Designations by Associated Persons and Investment Advisers

Current through Reg. 50, No. 138; July 16, 2024
(1) The use of a senior-specific
				certification or senior-specific professional designation by any person in
				connection with the offer, sale, or purchase of securities, or the provision of
				advice as to the value of or the advisability of investing in, purchasing, or
				selling securities, either directly or indirectly or through publications or
				writings, or by issuing or promulgating analyses or reports relating to
				securities, that indicates or implies that the user has special certification
				or training in advising or servicing senior citizens or retirees, shall be a
				prohibited business practice in the securities industry in violation of Section
				517.161(1)(a),
				F.S., by an associated person of a dealer or investment adviser. The prohibited
				use of such certifications or professional designation includes, but is not
				limited to, the following:
(a) Use of a
				certification or professional designation by a person who has not actually
				earned or is otherwise ineligible to use such certification or
				designation;
(b) Use of a
				nonexistent or self-conferred certification or professional
				designation;
(c) Use of a
				certification or professional designation that indicates or implies a level of
				occupational qualifications obtained through education, training, or experience
				that the person using the certification or professional designation does not
				have; and,
(d) Use of a
				certification or professional designation that was obtained from a designating
				or certifying organization that:
1. Is
				primarily engaged in the business of instruction in sales and/or
				marketing;
2. Does not have
				standards or procedures for assuring the competency of its designees or
				certificants;
3. Does not have
				standards or procedures for monitoring and disciplining its designees or
				certificants for improper or unethical conduct; or
4. Does not have continuing education
				requirements for its designees or certificants in order to maintain the
				designation or certificate.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0141 - Notification of Delay of Disbursement/Transaction from Account of Specified Adult

Current through Reg. 50, No. 138; July 16, 2024
Any dealer or investment adviser who delays a disbursement or
				  transaction of funds or securities from an account of a specified adult or an
				  account for which a specified adult is a beneficiary or beneficial owner shall,
				  not later than three (3) business days after the date on which the delay was
				  first placed or extension of the delay applied, notify the Office of the delay
				  or extension of the delay by submitting Form OFR-DLY, Notification of Delay of
				  Disbursement/Transaction from Account of Specified Adult, effective 01-21. A
				  sample form is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-12577
.
Rulemaking Authority 517.03(1), 517.034(3), (4) FS. Law
					 Implemented 517.34 FS.
New 1-18-21.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0145 - Requirements for Florida Intrastate Crowdfunding Intermediaries

Current through Reg. 50, No. 138; July 16, 2024
(1) Requirements of intermediaries to reduce
				risk of fraud. Pursuant to Section
				517.0611(13)(a),
				F.S., an intermediary must take measures to reduce the risk of fraud with
				respect to transactions. Such measures include denying or removing an issuer's
				access to the intermediary's platform if:
(a)
				The issuer fails to either provide the intermediary, or to potential investors
				through the intermediary's platform, the disclosure statement required under
				Section 517.0611(7),
				F.S.;
(b) The issuer fails to have
				an escrow agreement with a financial institution as required under Sections
				517.0611(4)(f)
				and 517.0611(8),
				F.S., in order for the intermediary to comply with its duties under Sections
				517.0611(13)(f) and
				(g) and
				517.0611(15),
				F.S.;
(c) The intermediary has
				knowledge that the issuer is disqualified from conducting an offering under
				Section 517.0611, F.S., pursuant to
				Section 517.0611(4)(a), (c), (d), or
				(e), F.S., or
(d) The intermediary has knowledge that the
				issuer has made material false statements or material omissions to investors or
				potential investors through the intermediary's platform.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.015 - Financial Reporting Requirements - Statement of Financial Condition - Dealers and Investment Advisers (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1),
					 517.12(9),
					 517.121(2) FS.
					 Law Implemented 517.12(9), 517.121(2)
					 FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.15, Amended
					 6-16-92, 10-30-03, 4-8-04, Formerly 3E-600.015, Amended 11-22-10, 9-22-14,
					 Repealed 5-6-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0151 - Net Capital and Financial Reporting Requirements for Dealers

Current through Reg. 50, No. 138; July 16, 2024
(1) For purposes of this rule:
(a) "Audited financial statements" means
				financial statements that must be:
1. Examined
				in accordance with United States generally accepted auditing standards and
				prepared in conformity with generally accepted accounting principles;
2. Audited by a certified public accountant
				that meets the standards of independence described in Rule 2-01(b) and (c) of
				Regulation S-X (17 C.F.R.
				§210.2-01(b) and (c)),
				which is incorporated by reference in Rule
				69W-200.002, F.A.C.;
				and,
3. Accompanied by an opinion
				of the accountant with respect to the financial statements, and by a note
				stating the principles used to prepare it, the basis of included securities,
				and any other explanations required for clarity.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.016 - Net Capital Requirements for Dealers and Investment Advisers (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.12(9), (16) FS.
New 12-5-79, Amended 9-20-82, Formerly 3E-600.16, Amended
					 10-15-86, 8-1-91, 6-29-93, 11-22-93, Formerly 3E-600.016, Amended 11-22-10,
					 9-22-14, Repealed 5-6-15.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.0161 - Net Capital and Financial Reporting Requirements for Investment Advisers

Current through Reg. 50, No. 138; July 16, 2024
(1) Net capital
				requirements for investment advisers. The net capital of an investment adviser
				applicant or registrant under Section
				517.12, F.S., shall be
				maintained at all times at a level required by this rule.
(a) An investment adviser registered or
				required to be registered with the Office of Financial Regulation (Office) who
				has custody of client funds or securities shall maintain minimum net capital of
				$25,000 except:
1. An investment adviser
				having custody solely due to direct fee deduction shall be required to comply
				with the net capital requirements of paragraph (1)(b) of this rule.
2. An investment adviser having custody
				solely due to advising pooled investment vehicles and complying with the terms
				described under paragraph
				69W-600.0132(3)(d),
				F.A.C., shall be required to comply with the net capital requirements of
				paragraph (1)(b) of this rule.
3.
				An investment adviser having custody solely because the investment adviser,
				associated person of the investment adviser, or employee, director, or owner of
				the investment adviser is the trustee for a trust, and where the investment
				adviser acts as the investment adviser to that trust and complies with the
				terms described under paragraph
				69W-600.0132(3)(e),
				F.A.C., shall be required to comply with the net capital requirements of
				paragraph (1)(b) of this rule.
4.
				An investment adviser having custody solely because the investment adviser,
				associated person of the investment adviser, or employee, director or owner of
				the investment adviser is the trustee for a beneficial trust and complies with
				the terms described under paragraph
				69W-600.0132(3)(f),
				F.A.C., shall be required to comply with the net capital requirements of
				paragraph (1)(b) of this rule.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.017 - Customer Protection Rule - Reserve Requirements and Custody of Customer Funds and Securities

Current through Reg. 50, No. 138; July 16, 2024
All Dealer applicants and registrants subject to the net
				  capital provisions of subsection
				  69W-600.0151(2),
				  F.A.C., shall be required to prepare and maintain such records and accounts as
				  specified in, and to comply in all other respects with, the provisions of SEC
				  Rule 15c3-3 and Exhibit A ( 17 C.F.R. §240.15c3-3 and 240.15c3-3a), which
				  are incorporated by reference in Rule
				  69W-200.002,
				  F.A.C.
Rulemaking Authority 517.03(1),
					 517.12(8),
					 517.121(2) FS.
					 Law Implemented 517.12(8), 517.121(2)
					 FS.
New 12-5-79, Formerly 3E-600.17, Amended 6-16-92, Formerly
					 3E-600.017, Amended 11-22-10, 9-22-14,
					 11-26-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-600 - REGISTRATION OF DEALERS, INVESTMENT ADVISERS, ASSOCIATED PERSONS › Section 69W-600.020 - Continuing Education Requirements (Repealed)

Current through Reg. 50, No. 138; July 16, 2024
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.12(18), 517.161(1) FS.
New 12-21-95, Amended 8-19-99, 10-30-03, Formerly
					 3E-600.020, Amended 11-22-10, 9-22-14, Repealed
					 11-26-19.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.001 - Registration of Securities

Current through Reg. 50, No. 138; July 16, 2024
(1) An applicant
				for registration of securities pursuant to Section
				517.081, F.S., shall comply with
				the rules contained in Chapter 69W-700, F.A.C. An applicant shall file forms
				and fees electronically on the Office of Financial Regulation (Office) website
				at
https://real.flofr.com
through
				the Regulatory Enforcement and Licensing (REAL) System or through the North
				American Securities Administrators Association Electronic Filing Depository
				(EFD) at
https://efdnasaa.org
. An
				application filed through the REAL System shall be deemed received on the date
				the Office issues to the applicant a confirmation of submission and payment via
				the Office's website. An application filed through the EFD shall be deemed
				received on the date the Office issues to the applicant a confirmation of
				submission and payment. The application shall include all information required
				by such forms and payment of the statutory fees, as required by Section
				517.081(6),
				F.S. An application shall include the following:
(a) Form OFR-S-1-91, Application for
				Registration of Securities (03-2024) or Form OFR-S-12-97, SCOR (Small Corporate
				Offering Registration) Application to Register Securities (03-2024). These
				forms are hereby incorporated by reference and are available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-16506
,
http://www.flrules.org/Gateway/reference.asp?No=Ref-16507
,
				or from the Office at
https://flofr.gov/sitePages/MaterialsDS.htm
;
(b) OFR-S-7-91, Exhibit 1 (General Issue)
				(03-2024). This form is hereby incorporated by reference and is available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-16508
or from the Office at
https://flofr.gov/sitePages/MaterialsDS.htm
;
(c) An irrevocable written Uniform Consent to
				Service of Process, Form U-2 (6/2016). This form is hereby incorporated by
				reference and is available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-11275
.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.002 - Filing of Prospectus

Current through Reg. 50, No. 138; July 16, 2024
(1) An applicant for
				registration of securities must file a related prospectus containing
				significant information about the issuer and the offering so that the Office of
				Financial Regulation may ascertain if the proposed offering meets the
				requirements of Chapter 517, F.S. Such prospectus must be in the hands of a
				prospective purchaser prior to the consummation of the sale of any securities
				thereof and every prospectus must carry the following information shown boldly
				on the outside cover: "THESE SECURITIES HAVE BEEN REGISTERED BY THE STATE OF
				FLORIDA, OFFICE OF FINANCIAL REGULATION, AS HAVING COMPLIED WITH CHAPTER 517,
				F.S. THE OFFICE OF FINANCIAL REGULATION HAS NOT PASSED UPON THE ACCURACY OR
				ADEQUACY OF THIS PROSPECTUS, AND SUCH REGISTRATION DOES NOT CONSTITUTE A
				RECOMMENDATION OF THE SECURITIES FOR INVESTMENT PURPOSES."
(2) Any prospectus which depicts the United
				States Securities and Exchange Commission's statement pursuant to a
				registration statement filed under the Securities Act of 1933, a letter of
				notification under Regulation A of the Securities Act of 1933 (17 C.F.R. §§
										230.251 through
				230.263) or Form U-7, Small
				Corporate Offering Registration, (Rev. 5-19-2019), will be considered to be in
				substantial compliance with the requirement of subsection (1), above.
				Regulation A is incorporated by reference in Rule
				69W-200.002, F.A.C., and Form
				U-7 is hereby incorporated by reference and is available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-16509
or from the Office at
https://flofr.gov/sitePages/MaterialsDS.htm
.
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.081(3) FS.
New 9-20-82, Formerly 3E-20.01, 3E-700.02, Amended
					 10-26-97, Formerly 3E-700.002, Amended 11-22-10, 9-22-14, 11-25-19,
					 3-21-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.003 - Content of Prospectus

Current through Reg. 50, No. 138; July 16, 2024
(1) The information
				required in a prospectus need not follow any definite order. Such information
				shall not, however, be set forth in such fashion as to obscure any of the
				required information or any information necessary to keep the required
				information from being incomplete or misleading.
(2) All information contained in a prospectus
				shall be set forth under appropriate captions or headings reasonably indicative
				of the principal subject matter set forth thereunder. Except as to financial
				statements and other tabular data, all information set forth in a prospectus
				shall be divided into reasonably short paragraphs or sections.
(3) Every prospectus shall include a
				reasonably detailed table of contents showing the subject matter of the various
				sections or subdivisions of the prospectus and the page number on which each
				such section or subdivision begins.
(4) Except as to financial statements and
				information required in tabular form, the information set forth in a prospectus
				may be expressed in condensed or summarized form.
(5) Illustrations and comparative graphs
				making comparisons with other companies or that incorporate projected data
				concerning any subject matter may not be used in a prospectus to be filed with
				any application for registration of securities unless the same are necessary to
				a full disclosure of material facts enabling an investor to make an informed
				judgment of the offering.
(a) Graphs or charts
				used in addition to the textual description, illustrating the dilution of the
				investor's equity, the difference of the public offering price and price paid
				by promoters and insiders, the percentage of equity purchased by the public
				investor and the percentage purchased by the insiders and/or the use of the
				proceeds from the offering will be acceptable to the Office of Financial
				Regulation.
(b) Photographic
				reproductions of principal properties or important products in prospectuses are
				permissible where they do not create a misleading impression.
(c) Artists, architects or engineers'
				conceptions or renderings are not permissible since they may be misleading in
				that there is not assurance of completion of the structure or because of a lack
				of accuracy in the conception or rendering, but accurate maps or surveys are
				permissible where they do not create a misleading impression.
(d) Established corporate symbols or
				trademarks may be used if they do not create misleading
				impressions.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.004 - Circulation of Preliminary Prospectuses

Current through Reg. 50, No. 138; July 16, 2024
The provisions of section
				  517.07, F.S., requiring
				  compliance with the registration requirements of the Florida Securities and
				  Investor Protection Act, if applicable, prior to the offer or sale of
				  securities in Florida, shall not be deemed to prevent the use of a preliminary
				  prospectus provided:
(1) An
				application to register the securities offered is pending before the Office of
				Financial Regulation pursuant to section
				517.081, F.S.;
(2) The outside front cover page of such
				prospectus shall bear in red ink, the caption "Preliminary Prospectus," the
				date of issuance, and the following statement printed in bold face type: "A
				REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE
				OFFICE OF FINANCIAL REGULATION, BUT HAS NOT YET BECOME EFFECTIVE. INFORMATION
				CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. THESE SECURITIES MAY
				NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE
				REGISTRATION BECOMES EFFECTIVE. THIS PROSPECTUS SHALL NOT CONSTITUTE AN OFFER
				TO SELL OR THE SOLICITATION OF AN OFFER TO BUY."
(3) The Preliminary Prospectus is
				substantially in compliance with the provisions of rule
				69W-700.003, F.A.C., provided
				the Office of Financial Regulation has authorized in writing such circulation
				prior to registration; and,
(4) A
				prospectus which is substantially the same as the offering circular contained
				in the definitive registration statement accepted by the Office of Financial
				Regulation to accomplish registration shall be supplied to the purchaser in
				compliance with rule 69W-700.003,
				F.A.C.
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.081(3) FS.
(Formerly 3E-20.02) New 9-20-82, Formerly 3E-700.04,
					 Amended 10-26-97, Formerly 3E-700.004.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.005 - Promoters Equity Investment Ratio

Current through Reg. 50, No. 138; July 16, 2024
In offerings where the issuer is in a development stage, the
				  ratio of equity investment by promoters or insiders to the aggregate public
				  offering shall be no less than:
(1)
				Ten percent (10%) of the first $1,000,000 of the aggregate public offering;
				and,
(2) Seven percent (7%) of the
				next $500,000 of the aggregate public offering; and,
(3) Five percent (5%) of the next $500,000 of
				the aggregate public offering; and,
(4) Two and one-half percent (21/2%) of the
				balance over $2,000,000.
Rulemaking Authority 517.03(1) FS. Law Implemented
					 517.081(3), (7) FS.
(Formerly 3E-20.03) New 9-20-82, Formerly 3E-700.05,
					 Amended 10-26-97, Formerly 3E-700.005, Amended 5-15-07,
					 9-22-14.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.006 - Voting Rights

Current through Reg. 50, No. 138; July 16, 2024
Registration involving the sale of non-voting common stock or
				  other equity security interests will not be permitted unless full and complete
				  disclosure is made to the prospective purchaser and imprinted on the cover of
				  the prospectus in bold face type in a contrasting color is the following
				  notation: "THESE SECURITIES DO NOT ENTITLE THE HOLDER THEREOF TO
				  VOTE."
Rulemaking Authority 517.03 FS. Law Implemented 517.081(7)
					 FS.
New 9-20-82, Formerly 3E-700.06, Amended 10-14-90, Formerly
					 3E-700.006, Amended 9-22-14, 3-21-24.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.007 - Options or Warrants Granted Underwriters

Current through Reg. 50, No. 138; July 16, 2024
The Office of Financial Regulation will permit the
				  registration of securities where options or warrants are granted to
				  underwriters only on the condition that such options or warrants meet the
				  criteria set forth in subsections (1) through (6), hereafter:
(1)
(a)
				They are issued to the underwriters under a firm underwriting agreement;
				or
(b) They are issued in
				connection with a best efforts underwriting only when the entire issue is sold,
				provided however, that options or warrants may be issued in connection with a
				minimum-maximum offering only if the amount of options or warrants to be issued
				to the underwriters is pro-rated in accordance with the amount of the
				underwriting which is sold; and,
(c) Option or warrants may not be
				transferred, except:
1. To partners of the
				underwriter, if the underwriter is a partnership;
2. To officers and employees of the
				underwriter, who are also shareholders of the underwriter, if the underwriter
				is a corporation;
3. To managers
				and managing members of the underwriter, if the underwriter is a limited
				liability corporation; or
4. By
				will, under the laws of descent and distribution, or by operation of
				law.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.008 - Options and Warrants to Officers, Employees and Others

Current through Reg. 50, No. 138; July 16, 2024
The Office of Financial Regulation will permit the
				  registration of securities where options and warrants are granted to officers,
				  employees and others only on the condition that such options or warrants meet
				  the criteria set forth below.
(1) An
				issuer may not grant options or warrants at an exercise price that is less than
				85% of the fair market value of the issuer's underlying shares of common stock
				or similar securities on the date of grant.
(2) Limitations on the total number of
				options and warrants.
(a) For one year
				following the effective date of the offering, the total number of options and
				warrants that the issuer may issue or reserve for issuance may not exceed 15%
				of the sum of the issuer's common stock outstanding at the date of the public
				offering plus:
1. The number of firmly
				underwritten shares being offered; or
2. The number of shares required to meet the
				minimum offering amount, if not firmly underwritten.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.009 - Escrow of Proceeds from Sale of Securities

Current through Reg. 50, No. 138; July 16, 2024
(1) As a condition to registration where the
				offering is on a "best efforts" basis, the success of the venture is dependent
				on the proceeds of the offering or the issuer is in a promotional or
				developmental phase, the Office of Financial Regulation may require that all or
				part of the proceeds from the sale of securities be escrowed until the issuer
				deposits a specified minimum amount from the sale of such securities within a
				specified period of time to accomplish the purposes of the offering and/or
				until certain stipulated requirements are met. The escrow agreement shall be in
				a form suitable to the Office of Financial Regulation, and shall include but
				not be limited to:
(a) The termination date
				of the offering;
(b) The amount
				needed to be escrowed before the funds may be released to the issuer;
(c) A provision that in the event an offering
				fails to meet all the established escrow requirements, all proceeds with
				interest, if any, received up to such date will be returned to investors, less
				the expenses of administering the escrow.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.010 - Preferred Stock or Debt Securities

Current through Reg. 50, No. 138; July 16, 2024
(1) An
				issuer of preferred stock shall have earnings after provision for federal
				income taxes and excluding extraordinary items for its last fiscal year, or of
				the average of its last three (3) fiscal years sufficient to pay the dividends
				for one (1) year on the securities to be offered to the public and there shall
				be no indication that during the current fiscal year, earnings, excluding
				extraordinary items, will be less than the amount required to pay dividends on
				the securities to be offered to the public.
(2) An issuer of debt securities shall have
				earnings before provision for federal income taxes but after exclusion of
				extraordinary items for its last fiscal year, or the average of its last three
				(3) fiscal years sufficient to pay the interest for one (1) year on the
				securities to be offered to the public and there shall be no indication that
				during the current fiscal year, earnings, excluding extraordinary items, will
				be less than the amount required to pay interest on the securities to be
				offered to the public.
(3) The
				earnings requirements of this rule shall be revealed in a financial
				statement(s) in compliance with subsection
				69W-700.001(3),
				F.A.C.
(4) All debt securities must
				be issued under a trust indenture with a bank acting as trustee. The indenture
				must contain a provision for a sinking fund sufficient to retire approximately
				75% of the debt prior to maturity.
Rulemaking Authority 517.03 FS. Law Implemented 517.081(7)
					 FS.
New 9-20-82, Formerly 3E-20.09, 3E-700.10, 3E-700.010,
					 Amended 9-22-14, 11-15-16.
Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69W - Securities › Chapter 69W-700 - REGISTRATION OF SECURITIES › Section 69W-700.011 - Fractional Undivided Interest in Oil and Gas Titles

Current through Reg. 50, No. 138; July 16, 2024
(1) Registration will not be allowed for the
				sale of any interest in oil, gas, petroleum or mineral titles or leases unless
				the proposed drilling is located in a proven area substantiated by a qualified
				independent geologist.
(2) The term
				"fractional undivided interest in oil or gas rights" shall include landowner's
				royalty interests, overriding royalty interests, working interests,
				participating interests, and oil or gas payments. Such terms shall be construed
				as hereinafter defined:
(a) Landowner's
				royalty interests means the right in the royalty reserved by a landowner or fee
				owner upon the creation of an oil or gas lease.
(b) Overriding royalty interests means the
				right of participation in the oil or gas, or in the proceeds from the sale of
				oil or gas, produced from a specified tract or tracts, which right is limited
				in duration to the terms of an existing lease and which is not subject to any
				portion of the expense of development, operation, or maintenance.
(c) Working interests means that right in an
				oil or gas leasehold which is subject to any portion of the expense of
				development, operation or maintenance.
(d) Participating interests means the right
				of participation in the oil or gas, or in the proceeds from the sale of oil or
				gas, produced from a specified tract or tracts or wells which right is limited
				in duration to the terms of an existing lease and is subject to any portion of
				the expense of development, operation or maintenance.
(e) Oil or gas payments means the right of
				participation in the oil or gas, produced from a specified tract or tracts and
				which is limited to a maximum amount fixed in barrels of oil, cubic feet of
				gas, or dollars.