The bill amends various sections of the Florida Statutes concerning securities regulations, focusing on definitions, exemptions from registration, and filing requirements for securities issuers. It introduces new terms such as "branch manager," "general partner," and "limited liability company," while revising existing definitions. The bill updates the criteria for exemptions from registration, particularly under the Florida Invest Local Exemption law, and clarifies the operational conditions for merger and acquisition brokers. Additionally, it specifies new exemptions for certain transactions and entities, including financial institutions and investment companies, and introduces a prohibition against misrepresentations in securities transactions.

Moreover, the bill streamlines the registration process for dealers, associated persons, and investment advisers by removing the fingerprint submission requirement for certain applicants, allowing the commission to waive this requirement. It establishes criteria for fee waivers for military members and their spouses and outlines the requirements for intermediaries to register. The bill also clarifies the roles of merger and acquisition brokers, updates definitions related to public shell companies, and enhances protections for victims of securities violations by revising the eligibility criteria for the Securities Guaranty Fund. Overall, the bill aims to modernize Florida's securities laws while ensuring compliance and enhancing investor protection.

Statutes affected:
S 988 Filed: 517.0612, 517.0614, 517.0616, 517.075, 517.301, 517.211, 517.315
S 988 c1: 517.0612, 517.0614, 517.0616, 517.075, 517.301, 517.34, 517.211, 517.315
S 988 c2: 517.0612, 517.0614, 517.0616, 517.301, 517.34, 517.315