Florida Regulations 69V-560.1000: Disciplinary Guidelines
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(1) Pursuant to Florida Statutes § 560.1141, disciplinary guidelines applicable to each ground for disciplinary action that may be imposed by the Office against a person for a violation of Chapter 560 F.S., are hereby adopted. The disciplinary guidelines are contained in “”Office of Financial Regulation, Division of Consumer Finance, Form OFR-560-09, Disciplinary Guidelines for Money Services Businesses, which is hereby incorporated by reference, effective 08-2023. A copy of the disciplinary guidelines is available on the Office’s website at www.flofr.gov and http://www.flrules.org/Gateway/reference.asp?No=Ref-15704. For the purpose of this rule and the disciplinary guidelines, the term “”citation”” means: a notice of non-compliance; written agreement; or final order docketed by the agency that specifies a violation of Florida Statutes Chapter 560, or any rule promulgated under that chapter.
(2) Consistent with the disciplinary guidelines contained in the Office of Financial Regulation, Division of Consumer Finance, Form OFR-560-09, Disciplinary Guidelines for Money Services Businesses, the Office may issue: a written agreement which includes an administrative fine, but not adopted by final order; orders to revoke or suspend a license; orders to impose an administrative fine; orders of prohibition; orders of removal; orders denying applications; notices of non-compliance; and/or bring an action for injunction. Also, consistent with the disciplinary guidelines, to determine penalties, the Office may consider the combined effect of violations.
(a) For first citations identified in the disciplinary guidelines as minor violations, the Office shall issue a notice of non-compliance except when the Office identifies aggravating circumstances that would warrant a more severe penalty.
(b) For second citations identified in the disciplinary guidelines as minor violations, the Office may issue a written agreement which is not adopted by final order imposing an administrative fine. Written agreements may be used only when the violations are limited to minor violations.
(3) In accordance with Florida Statutes § 560.1141, the Office shall consider the following circumstances in determining an appropriate penalty within the range of penalties prescribed in the disciplinary guidelines for each violation. The Office shall also consider the circumstances when determining whether a deviation from the range of penalties in the disciplinary guidelines is warranted:
(a) The following circumstances are considered mitigating factors which will be used to reduce the penalty:
1. The violation rate is less than 5% when compared to the overall sample size reviewed;
2. No prior citation by the Office against the money services business or control person of the money services business within the past 10 years;
3. The money services business detected and voluntarily instituted corrective action or measures to avoid the recurrence of the violation prior to the detection and intervention by the Office;
4. The violation is attributable to a single person or employee, and the money services business removed or otherwise disciplined the individual prior to detection or intervention by the Office;
5. The money services business is responsive to the Office’s requests or inquiries or made no attempt to impede or delay the Office in its examination or investigation of the underlying misconduct; or
6. Other relevant, case-specific circumstances.
(b) The following circumstances are considered aggravating factors which will be used to increase the penalty:
1. The violation rate is more than 95% when compared to the overall sample size reviewed (sample size must be equal to or greater than 50 transactions and cover a date range of at least 6 months);
2. There is a potential for harm to customers or the public;
3. Prior citations by the Office against the money services business or control person of the money services business within the past 5 years which contain the same violations;
4. The violation was the result of willful misconduct or recklessness;
5. The money services business or control person of the money services business attempted to conceal the violation or mislead the Office; or
6. Other relevant, case-specific circumstances.
(4) The list of violations cited in the disciplinary guidelines is intended to be comprehensive, but the omission of a violation from the list does not preclude the Office from taking any action authorized by Florida Statutes Chapter 560
(5) The ranges for administrative fines imposed by the disciplinary guidelines are $1,000 to $3,500 for an “”A”” level fine; $3,500 — $7,500 for a “”B”” level fine; and $7,500 — $10,000 for a “”C”” level fine.
(6) The ranges for suspension imposed by the disciplinary guidelines are 3 to 10 days for an “”A”” level suspension; 10 to 20 days for a “”B”” level suspension; 20 to 30 days for a “”C”” level suspension; and up to 90 days for a “”D”” level suspension. A “”D”” level suspension may be terminated early if the money services business cures the violation.
Rulemaking Authority 560.105, 560.1141 FS. Law Implemented 560.109, 560.1092, 560.1105, 560.111, 560.1115, 560.113, 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.125, 560.126, 560.128, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.309, 560.310, 560.403, 560.404, 560.405, 560.406 FS. History-New 6-7-09, Amended 11-28-19, 2-16-23, 8-3-23.
Terms Used In Florida Regulations 69V-560.1000
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
(a) For first citations identified in the disciplinary guidelines as minor violations, the Office shall issue a notice of non-compliance except when the Office identifies aggravating circumstances that would warrant a more severe penalty.
(b) For second citations identified in the disciplinary guidelines as minor violations, the Office may issue a written agreement which is not adopted by final order imposing an administrative fine. Written agreements may be used only when the violations are limited to minor violations.
(3) In accordance with Florida Statutes § 560.1141, the Office shall consider the following circumstances in determining an appropriate penalty within the range of penalties prescribed in the disciplinary guidelines for each violation. The Office shall also consider the circumstances when determining whether a deviation from the range of penalties in the disciplinary guidelines is warranted:
(a) The following circumstances are considered mitigating factors which will be used to reduce the penalty:
1. The violation rate is less than 5% when compared to the overall sample size reviewed;
2. No prior citation by the Office against the money services business or control person of the money services business within the past 10 years;
3. The money services business detected and voluntarily instituted corrective action or measures to avoid the recurrence of the violation prior to the detection and intervention by the Office;
4. The violation is attributable to a single person or employee, and the money services business removed or otherwise disciplined the individual prior to detection or intervention by the Office;
5. The money services business is responsive to the Office’s requests or inquiries or made no attempt to impede or delay the Office in its examination or investigation of the underlying misconduct; or
6. Other relevant, case-specific circumstances.
(b) The following circumstances are considered aggravating factors which will be used to increase the penalty:
1. The violation rate is more than 95% when compared to the overall sample size reviewed (sample size must be equal to or greater than 50 transactions and cover a date range of at least 6 months);
2. There is a potential for harm to customers or the public;
3. Prior citations by the Office against the money services business or control person of the money services business within the past 5 years which contain the same violations;
4. The violation was the result of willful misconduct or recklessness;
5. The money services business or control person of the money services business attempted to conceal the violation or mislead the Office; or
6. Other relevant, case-specific circumstances.
(4) The list of violations cited in the disciplinary guidelines is intended to be comprehensive, but the omission of a violation from the list does not preclude the Office from taking any action authorized by Florida Statutes Chapter 560
(5) The ranges for administrative fines imposed by the disciplinary guidelines are $1,000 to $3,500 for an “”A”” level fine; $3,500 — $7,500 for a “”B”” level fine; and $7,500 — $10,000 for a “”C”” level fine.
(6) The ranges for suspension imposed by the disciplinary guidelines are 3 to 10 days for an “”A”” level suspension; 10 to 20 days for a “”B”” level suspension; 20 to 30 days for a “”C”” level suspension; and up to 90 days for a “”D”” level suspension. A “”D”” level suspension may be terminated early if the money services business cures the violation.
Rulemaking Authority 560.105, 560.1141 FS. Law Implemented 560.109, 560.1092, 560.1105, 560.111, 560.1115, 560.113, 560.114, 560.1141, 560.118, 560.123, 560.1235, 560.125, 560.126, 560.128, 560.208, 560.2085, 560.209, 560.210, 560.211, 560.213, 560.303, 560.309, 560.310, 560.403, 560.404, 560.405, 560.406 FS. History-New 6-7-09, Amended 11-28-19, 2-16-23, 8-3-23.