Florida Regulations 69V-559.102: Application or Appointment Procedures and Requirement
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(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 Florida Statutes Chapter 560; or,
(c) The initial application fee ($625) and investigation fee ($200) required by Florida Statutes § 516.03(1), if the applicant indicates on the application that it intends to offer a product or service under Florida Statutes Chapter 516; 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 Florida Statutes Chapter 560, 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.
(2) Form OFR-559-FTS-001 is incorporated by reference in Fl. Admin. Code R. 69V-559.1012
Rulemaking Authority 559.952(5), 559.952(11)(a) FS. Law Implemented 559.952(4)(a), 559.952(5), 559.952(9), 559.952(11)(a) FS. History-New 1-18-21.
Terms Used In Florida Regulations 69V-559.102
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
(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 Florida Statutes Chapter 560; or,
(c) The initial application fee ($625) and investigation fee ($200) required by Florida Statutes § 516.03(1), if the applicant indicates on the application that it intends to offer a product or service under Florida Statutes Chapter 516; 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 Florida Statutes Chapter 560, 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.
(2) Form OFR-559-FTS-001 is incorporated by reference in Fl. Admin. Code R. 69V-559.1012
Rulemaking Authority 559.952(5), 559.952(11)(a) FS. Law Implemented 559.952(4)(a), 559.952(5), 559.952(9), 559.952(11)(a) FS. History-New 1-18-21.