Florida Regulations 69V-559.200: Operation of the Financial Technology Sandbox
Current as of: 2024 | Check for updates
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In accordance with Section 559.952(6)(c), F.S., the Office may enter into an agreement with a state, federal, or foreign regulatory agency to allow licensees under the Financial Technology Sandbox to make their products or services available in other jurisdictions. The agreement shall be in the form of a mutually agreed Memorandum of Understanding which includes at a minimum:
(1) The terms by which a licensee may offer its products or services in such jurisdiction so long as it holds an active sandbox license in this state;
(2) Any restrictions imposed on the licensee by the state, federal, or foreign regulatory agency;
(3) The effective date and expiration date of the agreement;
(4) Identification of the licensee’s information maintained by the Office that may be shared with the state, federal, or foreign regulatory authority;
(5) A statement that the state, federal, or foreign regulatory authority has sufficient public records exemptions to protect the licensee’s information consistent with Section 559.952(5)(h)1., F.S.; and
(6) The name, address, telephone number, and email address of contact person for both parties for questions related to the agreement.
Rulemaking Authority 559.952(6)(c), 559.952(11)(a) FS. Law Implemented 559.952(5)(h), 559.952(6)(c), 559.952(11)(a) FS. History-New 1-18-21.
Terms Used In Florida Regulations 69V-559.200
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(2) Any restrictions imposed on the licensee by the state, federal, or foreign regulatory agency;
(3) The effective date and expiration date of the agreement;
(4) Identification of the licensee’s information maintained by the Office that may be shared with the state, federal, or foreign regulatory authority;
(5) A statement that the state, federal, or foreign regulatory authority has sufficient public records exemptions to protect the licensee’s information consistent with Section 559.952(5)(h)1., F.S.; and
(6) The name, address, telephone number, and email address of contact person for both parties for questions related to the agreement.
Rulemaking Authority 559.952(6)(c), 559.952(11)(a) FS. Law Implemented 559.952(5)(h), 559.952(6)(c), 559.952(11)(a) FS. History-New 1-18-21.