3826570, 69V-560.102 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 3826570

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

MONEY TRANSMITTERS

Overview

RULE:

69V-560.102	Application or Appointment Procedures and Requirements
69V-560.103	Definitions
69V-560.104	Application Fees
69V-560.105	Regulatory Standards for Evaluating Applications (Repealed)
69V-560.107	Application for Branch Office and Appointment of Authorized Vendors
69V-560.108	Declaration of Intent to Engage in Deferred Presentment Transactions
69V-560.201	Amendments, Change of Name, Change of Entity and Change in Control or Ownership
69V-560.202	Regulatory Standards for Evaluating Notices of Change of Control (Repealed)
69V-560.301	Scope (Repealed)
69V-560.302	Renewal Fees, Deadlines, and Requirements
69V-560.303	Renewal Application Forms, Procedures and Requirements (Repealed)
69V-560.304	Renewal Fees (Repealed)
69V-560.402	Bond
69V-560.602	Quarterly Reports
69V-560.603	Quarterly Reports to Be Filed by Foreign Currency Exchangers (Repealed)
69V-560.604	Quarterly Reports to Be Filed by Funds Transmitters (Repealed)
69V-560.605	Quarterly Reports to Be Filed by Payment Instrument Sellers (Repealed)
69V-560.606	Annual Filing of Financial Audit Reports by Part II Licensees
69V-560.607	Quarterly Reports to Be Filed by Deferred Presentment Providers (Repealed)
69V-560.906	Consumer Credit Counseling Services

PURPOSE:

Chapter 2006-213, Laws of Florida, contains amendments to Chapter 560, Florida Statutes, relating to the licensing and regulation of money transmitters. The proposed rules implement and reflect the statutory changes.

SUMMARY:

Under Chapter 2006-213, Laws of Florida, the Financial Services Commission was granted rulemaking authority to require money transmitter applicants and registrants to amend any information contained in any application when the information becomes inaccurate for any reason, require registrants to file a new application when proposing a change of control of 25 percent or greater ownership in the registrant, and simply the registration renewal process. The forms referenced in the rules incorporate these legislative changes in addition to streamlining the forms by incorporating the biographical summary and instructions within the business application forms. Additional changes to the business forms include creating a Disclosure Reporting Page for applicants to provide detailed information concerning any affirmative responses to disclosure questions. Other forms that needed instructional guidance have now had the instructions embedded within the form itself.

RULEMAKING AUTHORITY:

215.405, 560.105, 560.118, 560.123, 560.205, 560.208, 560.209, 560.403 FS.

LAW:

215.405, 560.102, 560.103, 560.109, 560.114, 560.118, 560.123, 560.127, 560.129, 560.204, 560.205, 560.206, 560.207, 560.208, 560.209, 560.210, 560.303(1), 560.305, 560.306, 560.307, 560.308, 560.403 FS.

PRINT PUBLISH DATE:

2/23/2007 Vol. 33/08

COMMENTS:

From 2/23/2007 To 3/16/2007 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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