7.8 Hours
I. 13% Florida Statutes, Rules & Regulations Common to All Lines.
A. The Regulation of Florida’s Financial Services
*IA1, [N.A.I.F.A (26.1.1) p. 402]
1. Chief Financial Officer | CFO Jimmy Patronis
® Independently ELECTED Official à HEAD of the Department of Financial Services (DFS) à MEMBER of the Financial Services Commission.
1. Financial Services Commission
FSC | Commission
– Composed of the Governor, CFO, Attorney General & Commissioner of Agriculture à All four of Florida’s elected officials are MEMBERS of the Commission & Governors Cabinet
* – Commission – supervises the Office of Insurance Regulation and the Office of Financial Regulations.
[20.121]
*IA2a, [(26.1.2.1) p. 402]
a. Office of Financial Regulations
OFR | Office
* Is responsible for – the regulation of Banks – Other financial institutions.
* Head of the Office = Commissioner
OFR – may investigate – inside and OUTSIDE of Florida
*IA2b, [(26.1.2.2) p. 402]
a. Office of Insurance Regulations
OIR | Office
* Responsible for – the regulation of INSURERS ONLY
* Head of the Office / OIR = Commissioner
(OR) Director
ü Specific duties
– Issuing insurer Certificates of Authority
· [Identify] NOTE à Issuing Certificates of Authority is the same as fighting against Un-Authorized Entities.
é [(26.5) p. 411]
*IB, [(26.2) p. 403]