The bill CS/CS/HB 379 introduces significant amendments to Florida's securities regulations, focusing on definitions, exemptions, filing obligations, and protections against financial exploitation. It establishes new definitions such as "branch manager," "general partner," and "limited liability company," which clarify roles within the securities industry. The bill revises the criteria for exemptions from registration requirements, particularly for privately held companies and institutional investors, and updates filing requirements under the Florida Invest Local Exemption law. It also introduces fingerprinting requirements for certain individuals and allows the Financial Services Commission to waive specific requirements by rule. Additionally, the bill enhances consumer protection by prohibiting misrepresentations in securities transactions and extending the maximum delay period for disbursements to protect vulnerable adults.

Further amendments address the registration process for dealers and investment advisers, specifying that registrations will expire annually unless renewed, with updated fees and provisions for reinstatement. The bill clarifies disqualification criteria for registration exemptions and introduces new requirements for intermediaries, including background checks. It also defines the roles of merger and acquisition brokers and modifies the Securities Guaranty Fund provisions to expand eligibility for payments related to securities violations. Notably, the bill allows dealers or investment advisers to delay transactions if they suspect financial exploitation of specified adults, enhancing protections against such exploitation. Overall, these changes aim to streamline regulatory processes while bolstering investor protection and addressing unlawful sales in Florida.

Statutes affected:
H 379 Filed: 517.0612, 517.0614, 517.0616, 517.075, 517.211, 517.315
H 379 c1: 517.0612, 517.0614, 517.0616, 517.075, 517.301, 517.211, 517.315
H 379 c2: 517.0612, 517.0614, 517.0616, 517.075, 517.301, 517.34, 517.211, 517.315
H 379 er: 517.0612, 517.0614, 517.0616, 517.075, 517.301, 517.34, 517.211, 517.315