This bill amends various sections of the Florida Statutes concerning securities and investment regulations, introducing new definitions such as "branch manager," "general partner," and "limited liability company," while also revising existing definitions for clarity. It updates the exemptions from registration requirements for securities transactions, particularly for privately held companies and institutional investors. The bill also revises filing requirements for securities issuers, including the Florida Invest Local Exemption law, and introduces fingerprint processing for certain individuals involved in registration applications. Additionally, it establishes new provisions for the Securities Guaranty Fund, enhancing eligibility criteria for claims and specifying prohibitions against misrepresentations in securities transactions.

Further amendments focus on the registration and regulatory processes for intermediaries in securities transactions, including new provisions for electronic submission of fees and documents. The bill clarifies definitions related to control persons and eligible privately held companies, updates registration procedures for dealers and investment advisers, and introduces conditions for waiving fees for military personnel. It also specifies the responsibilities of merger and acquisition brokers, including the requirement for written assurances from control persons regarding their management roles post-transaction. Overall, the bill aims to streamline the regulatory framework for securities in Florida while ensuring compliance with federal standards 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