The bill amends several sections of the Florida Statutes concerning securities regulation, focusing on definitions, exemptions from registration, and filing obligations for securities issuers. Key insertions include new definitions for terms such as "branch manager," "corporation," and "director," which clarify roles within the securities framework. The bill also revises the circumstances under which securities transactions are exempt from registration, particularly for privately held companies and institutional investors. Additionally, it updates filing requirements under the Florida Invest Local Exemption law, mandating issuers to submit a notice of transaction and consent to service of civil process, while also clarifying the operational conditions for merger and acquisition brokers.

Moreover, the bill introduces new requirements for registration applicants, including fingerprint submissions for background checks, with provisions for waivers for military members and their spouses. It modifies existing registration processes, maintaining a $200 fee for registration and renewal, and allows for electronic procedures for fee deposits and document submissions. The bill also enhances regulatory clarity by updating definitions and establishing criteria for eligible privately held companies, while ensuring consumer protection through stricter regulations on unlawful sales of securities and clearer eligibility for the Securities Guaranty Fund. Overall, the amendments aim to streamline the regulatory process while enhancing investor protection and compliance within Florida's securities framework.

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