Florida Regulations 69W-600.0015: Canadian Dealer Notice-Filing
Current as of: 2024 | Check for updates
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(1) New Notice-Filings.
(a) The notice-filing for a Canadian dealer shall be filed electronically on the Office of Financial Regulation’s website at https://real.flofr.com through the Regulatory Enforcement and Licensing System (REAL) System using the OFR Form CAN, Canadian Dealer Notification (OFR Form CAN). The notice-filing shall include all information required by such form, any other information the Office of Financial Regulation (Office) may require, and payment of the statutory fees required by Section 517.12(16)(a), F.S. The notice-filing shall be deemed received on the date the Office issues a confirmation of submission and payment to the notice-filer via the Office’s website.
(b) A notice-filing shall include the following:
1. OFR Form CAN (effective 9/15), which is hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-06091, or https://flofr.gov/sitePages/documents/OFR-Can.pdf;
2. Statutory fee in the amount required by Section 517.12(16)(a), F.S.;
3. Evidence of a current registration as a dealer in the jurisdiction in which the dealer’s main office is located;
4. Evidence of current membership in a self-regulatory organization or stock exchange in Canada.
(2) Request for Additional Information. All information required by subsection (1) of this rule, shall be submitted with the original notice-filing. Any request for additional documents or information shall be made by the Office within thirty (30) days after receipt of the notice-filing. Additional information shall be submitted directly with the Office within sixty (60) days after a request has been made by the Office. The Office shall grant a request for an additional thirty (30) days to submit the additional information. The Office shall not grant a request after the original sixty (60) day deadline has passed. Failure to provide timely all additional information shall result in the application being deemed abandoned, which shall result in the application being removed from further consideration by the Office and closed.
(3) Amendment of Notice-Filing. If the information contained in the OFR Form CAN becomes inaccurate for any reason, the notice-filer shall file an amendment on the OFR Form CAN correcting such information within 30 days. Canadian broker dealers shall file such amendments directly with the Office electronically through the REAL System.
(4) Renewal Requirement.
(a) Every Canadian dealer notice-filed with the Office shall file renewal fees electronically on the Office’s website at https://real.flofr.com through the REAL System and shall be deemed received on the date the Office issues a confirmation of submission and payment to the notice-filer via the Office’s website. All renewal fees must be received by the Office by December 31 of the year the notice-filing expires.
(b) For Canadian dealers, failure to submit the requisite amount of fees by December 31 of the year of expiration of the notice-filing shall result in such notice-filing not being renewed. If December 31 falls on a Saturday, Sunday or legal holiday pursuant to Florida Statutes § 110.117, the renewals received on the next business day shall be considered timely received. However, an expired notice-filing may be reinstated in accordance with Florida Statutes § 517.12(16), provided that all requisite information and fees are filed electronically on the Office’s website at https://real.flofr.com through the REAL System on or before January 31 of the year following the year of expiration. Failure to submit the requisite amount of fees necessary to reinstate the notice-filing by January 31 of the year following the year of expiration shall result in such notice-filing not being reinstated. If January 31 falls on a Saturday, Sunday, or legal holiday pursuant to Florida Statutes § 110.117, the reinstatement received on the next business day shall be considered timely received. If the renewal or reinstatement is withdrawn or not granted, any fees filed to renew or reinstate the notice-filing shall become the revenue of the state pursuant to the provisions of Florida Statutes § 517.12(16), and shall not be returnable.
(5) Termination of Notification. Where a registrant withdraws, cancels, or otherwise terminates notification, or is terminated for any reason, notice of such fact shall be electronically filed with the Office through the REAL System using the OFR Form CAN within thirty (30) calendar days of the date of withdrawal, cancellation, or termination.
(6) Notice of Civil, Criminal or Administrative Action. A Canadian dealer shall:
(a) Notify the Office within thirty (30) calendar days of the date a complaint is served, of any civil, criminal or administrative charges filed against the firm or owner which directly or indirectly relate to the registration or sale of securities, or which directly or indirectly relate to the activities as a dealer, investment adviser, principal or agent, or any other activity where a breach of a fiduciary trust is alleged. This shall not include minor traffic violations; but shall include any notification of investigation by any recognized regulatory agency.
(b) Notify the Office within thirty (30) calendar days of the date of decision, order, or sanction rendered, or any appeal filed with respect to such decision with regard to any complaint outlined in paragraph (6)(a).
(c) Such notifications shall be filed with the Office through the REAL System in accordance with subsection (3) of this rule. When specifically requested by the Office pursuant to Florida Statutes § 517.021, one (1) copy of such complaint, answer or reply to any complaint, decision, order, or sanction shall be filed with the Office through the REAL System. Responses to requests by the Office for additional information shall be filed directly with the Office through the REAL System.
Rulemaking Authority 517.03, 517.12 FS. Law Implemented Florida Statutes § 517.12. History-New 5-15-07, Amended 11-22-10, 12-29-15, 1-18-21.
Terms Used In Florida Regulations 69W-600.0015
- 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.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiduciary: A trustee, executor, or administrator.
- 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.
(b) A notice-filing shall include the following:
1. OFR Form CAN (effective 9/15), which is hereby incorporated by reference and available at http://www.flrules.org/Gateway/reference.asp?No=Ref-06091, or https://flofr.gov/sitePages/documents/OFR-Can.pdf;
2. Statutory fee in the amount required by Section 517.12(16)(a), F.S.;
3. Evidence of a current registration as a dealer in the jurisdiction in which the dealer’s main office is located;
4. Evidence of current membership in a self-regulatory organization or stock exchange in Canada.
(2) Request for Additional Information. All information required by subsection (1) of this rule, shall be submitted with the original notice-filing. Any request for additional documents or information shall be made by the Office within thirty (30) days after receipt of the notice-filing. Additional information shall be submitted directly with the Office within sixty (60) days after a request has been made by the Office. The Office shall grant a request for an additional thirty (30) days to submit the additional information. The Office shall not grant a request after the original sixty (60) day deadline has passed. Failure to provide timely all additional information shall result in the application being deemed abandoned, which shall result in the application being removed from further consideration by the Office and closed.
(3) Amendment of Notice-Filing. If the information contained in the OFR Form CAN becomes inaccurate for any reason, the notice-filer shall file an amendment on the OFR Form CAN correcting such information within 30 days. Canadian broker dealers shall file such amendments directly with the Office electronically through the REAL System.
(4) Renewal Requirement.
(a) Every Canadian dealer notice-filed with the Office shall file renewal fees electronically on the Office’s website at https://real.flofr.com through the REAL System and shall be deemed received on the date the Office issues a confirmation of submission and payment to the notice-filer via the Office’s website. All renewal fees must be received by the Office by December 31 of the year the notice-filing expires.
(b) For Canadian dealers, failure to submit the requisite amount of fees by December 31 of the year of expiration of the notice-filing shall result in such notice-filing not being renewed. If December 31 falls on a Saturday, Sunday or legal holiday pursuant to Florida Statutes § 110.117, the renewals received on the next business day shall be considered timely received. However, an expired notice-filing may be reinstated in accordance with Florida Statutes § 517.12(16), provided that all requisite information and fees are filed electronically on the Office’s website at https://real.flofr.com through the REAL System on or before January 31 of the year following the year of expiration. Failure to submit the requisite amount of fees necessary to reinstate the notice-filing by January 31 of the year following the year of expiration shall result in such notice-filing not being reinstated. If January 31 falls on a Saturday, Sunday, or legal holiday pursuant to Florida Statutes § 110.117, the reinstatement received on the next business day shall be considered timely received. If the renewal or reinstatement is withdrawn or not granted, any fees filed to renew or reinstate the notice-filing shall become the revenue of the state pursuant to the provisions of Florida Statutes § 517.12(16), and shall not be returnable.
(5) Termination of Notification. Where a registrant withdraws, cancels, or otherwise terminates notification, or is terminated for any reason, notice of such fact shall be electronically filed with the Office through the REAL System using the OFR Form CAN within thirty (30) calendar days of the date of withdrawal, cancellation, or termination.
(6) Notice of Civil, Criminal or Administrative Action. A Canadian dealer shall:
(a) Notify the Office within thirty (30) calendar days of the date a complaint is served, of any civil, criminal or administrative charges filed against the firm or owner which directly or indirectly relate to the registration or sale of securities, or which directly or indirectly relate to the activities as a dealer, investment adviser, principal or agent, or any other activity where a breach of a fiduciary trust is alleged. This shall not include minor traffic violations; but shall include any notification of investigation by any recognized regulatory agency.
(b) Notify the Office within thirty (30) calendar days of the date of decision, order, or sanction rendered, or any appeal filed with respect to such decision with regard to any complaint outlined in paragraph (6)(a).
(c) Such notifications shall be filed with the Office through the REAL System in accordance with subsection (3) of this rule. When specifically requested by the Office pursuant to Florida Statutes § 517.021, one (1) copy of such complaint, answer or reply to any complaint, decision, order, or sanction shall be filed with the Office through the REAL System. Responses to requests by the Office for additional information shall be filed directly with the Office through the REAL System.
Rulemaking Authority 517.03, 517.12 FS. Law Implemented Florida Statutes § 517.12. History-New 5-15-07, Amended 11-22-10, 12-29-15, 1-18-21.