Gregory Oaks

The Financial Services Commission agenda includes a request for approval to file for final adoption of rules related to the regulation of mortgage brokerage, including amendments to fifteen rules and one new rule (69V-40.00111). The agenda also includes the OFR Quarterly Report (FY 2014-15, Quarter 4).

The Financial Services Commission meeting involved several key agenda items. These included approval of the minutes from a prior meeting, approval of final adoption amendments to rules regarding financial institutions (updating incorporated materials and striking a credit union filing requirement), approval to publish notices of proposed rule amendments for money services businesses (revising disciplinary guidelines, updating forms, and implementing a check cashing database), and approval to publish notices for proposed rulemaking regarding securities registration requirements (repealing, amending, and creating rules for application/notice filing processes).

The Office of Financial Regulation (OFR) requests approval to file for final adoption amendments to Rules 69W-700.001 and 69W-800.001, Florida Administrative Code (F.A.C.), regarding securities registration. The amendments allow applicants to file forms and fees electronically through the North American Securities Administrators Association Electronic Filing Depository (EFD) or the REAL system, specifying when applications are deemed received.

The OFR requested approval of the minutes from meetings held on November 7 and December 13, 2017, and presented their quarterly report covering October 1, 2017, to December 31, 2017. The report included performance measures related to examinations of financial institutions and money services businesses, application processing times, employee engagement, and customer service.

The OFR requested approval of the minutes from October 25, 2016, and December 6, 2016 meetings, and the OFR Quarterly Report from October 1, 2016 to December 31, 2016. The October 25, 2016 meeting included discussion and approval of several items from the Office of Financial Regulation, including approval of the August 2nd meeting minutes, approval to publish a notice of proposed rule for financial institutions rules relating to family trust companies, and final adoption of several financial institution rules. The December 6, 2016 meeting also included discussion and approval of several items from the Office of Financial Regulation, including approval of the September 20th meeting minutes, and final adoption of financial institution rules relating to family trust companies, financial reports and semiannual assessments for banks and trust companies, and financial reports and semiannual assessments for credit unions. The OFR's quarterly report showed an overall score of 3.75, exceeding expectations.