Florida Senate - 2013                                     SB 814
       By Senator Brandes
       22-00572A-13                                           2013814__
    1                        A bill to be entitled                      
    2         An act relating to the registration of branch offices
    3         conducting securities transactions; amending s.
    4         517.12, F.S.; providing that the registration of such
    5         offices is effective upon the filing of a certain form
    6         with the Office of Financial Regulation; authorizing
    7         the office to request a written supplement under
    8         certain circumstances; providing an effective date.
   10  Be It Enacted by the Legislature of the State of Florida:
   12         Section 1. Subsections (5) and (6) of section 517.12,
   13  Florida Statutes, are amended to read:
   14         517.12 Registration of dealers, associated persons,
   15  investment advisers, and branch offices.—
   16         (5) No dealer or investment adviser shall conduct business
   17  from a branch office within this state unless the branch office
   18  is registered with the office pursuant to the provisions of this
   19  section. Registration is effective upon the filing of Securities
   20  and Exchange Commission Form BR, Uniform Branch Office
   21  Registration Form, with the office through the Central
   22  Registration Depository maintained by the Financial Industry
   23  Regulatory Authority. The office may request the filing of a
   24  written supplement if the office finds that the Form BR is
   25  incomplete or inaccurate. The form of the supplement shall be
   26  determined by the commission.
   27         (6) In order to obtain registration, a dealer, associated
   28  person, or investment adviser, or branch office, in order to
   29  obtain registration, must file with the office a written
   30  application, on a form that which the commission may by rule
   31  prescribe. The commission may establish, by rule, procedures for
   32  depositing fees and filing documents by electronic means if
   33  provided such procedures provide the office with the information
   34  and data required by this section. Each dealer or investment
   35  adviser shall must also file an irrevocable written consent to
   36  service of civil process similar to that provided under for in
   37  s. 517.101. The application must shall contain such information
   38  as the commission or office may require concerning such matters
   39  as:
   40         (a) The name of the applicant and the address of its
   41  principal office and each office in this state.
   42         (b) The applicant’s form and place of organization; and, if
   43  the applicant is a corporation, a copy of its articles of
   44  incorporation and amendments to the articles of incorporation
   45  or, if a partnership, a copy of the partnership agreement.
   46         (c) The applicant’s proposed method of doing business and
   47  financial condition and history, including a certified financial
   48  statement showing all assets and all liabilities, including the
   49  contingent liabilities of the applicant up to as of a date not
   50  more than 90 days before prior to the filing of the application.
   51         (d) The names and addresses of all associated persons of
   52  the applicant to be employed in this state and the offices to
   53  which they will be assigned.
   54         Section 2. This act shall take effect July 1, 2013.