The State of Florida Office of Financial Regulation (OFR) is implementing the Regulatory Enforcement and Licensing (REAL) System in order to streamline and improve the efficiency of its, licensing and regulatory processes. The project will provide OFR with an integrated financial regulatory management system by combining core processes for fiscal, licensing, investigations, examination, legal and complaint functions.  The project is also anticipated to provide the OFR additional capabilities allowing the agency to effectively focus its enforcement activities, consumer awareness and industry outreach activities where they are needed most.  The REAL System is being implemented in two releases:

Release 1 of the REAL System was deployed on March 24, 2008. This release included the integration of online Licensing, Fiscal, and Enforcement (Complaints, Examinations, Legal Services, and Investigations) activities for all the licenses under Chapter 494, Florida Statutes (Mortgage Brokerage and Mortgage Lending). 

Release 2 of the REAL System is scheduled for January 2009 deployment and will include all remaining license types for the following Chapters, Florida Statutes.  For more information on the Florida Statutes and Rules administered by the Office of Financial Regulation go to http://www.flofr.com/Director/Statutes.htm. 

Select one of the following license type(s) for each Chapter, Florida Statutes, for more information on how each license type will be impacted and what steps are required to prepare for Release 2 of the REAL System.

In order to continue to provide you with updates regarding the changes you can anticipate, it is imperative that we have an accurate mailing address on file.  Please review your licensee name and mailing address for accuracy.  In order to update your address information, licensee will need to complete pages 3 and 5 of Form OFR-516-01 and mail it to the office no later than December 31, 2008, so the appropriate changes may be incorporated into our records.  The amended form should be mailed to the Office of Financial Regulation, Division of Finance, Bureau of Regulatory Review, 200 East Gaines Street, Tallahassee, FL  32399-0376. 

By the end of January 2009, Chapter 516 licensees will be mailed an authorization code for use in accessing the REAL system.  With the new technology of the REAL system, the Office will make some changes in the way it conducts business.  Some of the changes include: 

1. The Office will discontinue printing a new license each time a license is approved or renewed.  The REAL system will provide license holders using the online services with a printer friendly view of their authorization to do business in Florida.
    

2. The Office will accept payments through the online services portal via MasterCard, Visa, or electronic check for applications and renewal filings.

Release 2 will also include functionality for Issuer Dealers and other non-Financial Industry Regulatory Authority (FINRA) member firms, branches, agents and securities offerings regulated under Chapter 517, Florida Statutes.  All FINRA member firms, branches and agents, and all Federal and State Registered Investment Advisers and their associated branches and agents, will continue to file through the Central Registration Depository (CRD)/Investment Adviser Registration Depository (IARD) systems.

In order to continue to provide you with updates regarding the changes you can anticipate, it is imperative that we have an accurate mailing address on file.  In order to update your address information, registrants will need to file a complete form at the Division of Securities homepage, whichever is applicable, and mail it to the office no later than December 31, 2008, so the appropriate changes may be incorporated into our records.  The amended form should be mailed to the Office of Financial Regulation, Division of Securities, Bureau of Regulatory Review, 200 East Gaines Street, Tallahassee, FL  32399-0375.

During the first few weeks of 2009, Chapter 517 registrants will be mailed an authorization code for use in accessing the REAL system.  With the new technology of the REAL system, the Office will make some changes in the way it conducts business.  Some of the changes include: 

1. The Office will discontinue printing a new license each time a new license is approved or renewed.  The REAL system will provide license holders using the online services with a printer friendly view of their authorization to do business in Florida.
    

2. For Canadian Dealers, the first time an applicant or registrant makes an online filing to update license information a complete application form must be filed in its entirety.  Each time thereafter, the entity will only have to update the information that has changed on the form and sign the form.  This ensures that the Office maintains the most accurate information at all times.
    

3. Broker Dealers (Non-FINRA members) and Issuer Dealers using the online services will be required to complete the appropriate Uniform Form (i.e. Form BD, BD-W, BR or U-4) and upload it via the web portal in order to file an application, amend or terminate a registration.
    

4. The Office will accept payments through the online services portal via MasterCard, Visa, or electronic check for applications and renewal filings.

For more information about the REAL system contact the Division of Securities at 850-410-9500.

In order to continue to provide you with updates regarding the changes you can anticipate, it is imperative that we have an accurate mailing address on file.  Please review your license name and mailing address for accuracy.  In order to update your address information, licensees will need to complete pages 3 and 5 of Form OFR-520-01 and mail it to the office no later than December 31, 2008, so the appropriate changes may be incorporated into our records.  The amended form should be mailed to the Office of Financial Regulation, Division of Finance, Bureau of Regulatory Review, 200 East Gaines Street, Tallahassee, FL  32399-0376. 

By the end of January 2009, Chapter 520 licensees will be mailed an authorization code for use in accessing the REAL system.  With the new technology of the REAL system, the Office will make some changes in the way it conducts business.  Some of the changes include:

1. The Office will discontinue printing a new license each time a license is approved or renewed.  The REAL system will provide license holders using the online services with a printer friendly view of their authorization to do business in Florida.
    

2. The Office will accept payments through the online services portal via MasterCard, Visa, or electronic check for applications and renewal filings.

In order to continue to provide you with updates regarding the changes you can anticipate, it is imperative that we have an accurate mailing address on file.  Please review your registration name and mailing address for accuracy.  In order to update your address information, registrants will need to mail a letter to the office requesting the address be amended no later than December 31, 2008, so the appropriate changes may be incorporated into our records.  The letter should be mailed to the Office of Financial Regulation, Division of Finance, Bureau of Regulatory Review, 200 East Gaines Street, Tallahassee, FL  32399-0376.

By the end of January 2009, Chapter 559 registrants will be mailed an authorization code for use in accessing the REAL system.  With the new technology of the REAL system, the Office will make some changes in the way it conducts business.  Some of the changes include: 

1. The Office will discontinue printing a new registration each time a registration is approved or renewed. The REAL system will provide registration holders using the online services with a printer friendly view of their authorization to do business in Florida.
    

2. The Office will accept payments through the online services portal via MasterCard, Visa, or electronic check for applications and renewal filings.

In order to continue to provide you with updates regarding the changes you can anticipate, it is imperative that we have an accurate mailing address on file.  Please review your registration name and mailing address for accuracy.  In order to update your address information, registrants will need to complete pages 4 and 8 of Form OFR-560-01 and mail it to the office no later than December 31, 2008, so the appropriate changes may be incorporated into our records.  The amended form should be mailed to the Office of Financial Regulation, Division of Finance, Bureau of Regulatory Review, 200 East Gaines Street, Tallahassee, FL  32399-0376. 

By the end of January 2009, Chapter 560 licensees will be mailed an authorization code for use in accessing the REAL system.  With the new technology of the REAL system, the Office will make some changes in the way it conducts business.  Some of the changes include:          

1. The Office will discontinue printing a new license each time a new license is approved or renewed.  The REAL system will provide license holders using the online services with a printer friendly view of their authorization to do business in Florida.

Statutory Changes to Chapter 560

Senate Bill 2158 was approved by The Florida Legislature in 2008. The new law will go into effect January 1, 2009.  You can review the new law and proposed administrative rules by accessing the Office’s website at: http://www.flofr.com/finance/licensing-i.htm