Message from the Commissioner The Office of Financial Regulation (Office)
was created to regulate the banking, securities and financial service industries in the state of Florida. It was established in January 2003 as a result of a Constitutional amendment passed by voters in 1998, which merged the duties of the Comptroller and the Treasurer into a single agency. The Office will continue the regulatory duties formerly housed in the Department of Banking and Finance. We will protect consumers of financial services in the state by ensuring compliance of banks, securities firms and financial service companies with state and federal statutes and rules. The Office will examine regulated entities, license or charter institutions or companies and investigate allegations of suspected illegal activities with its jurisdiction. As in the past, the Office will also serve to protect the integrity of Florida’s markets and financial service industries by providing fair, consistent and effective regulation. A strong regulatory environment benefits licensees by projecting a positive, fair image to consumers. This encourages consumers to use Florida companies and results in a stronger economy for the State. Applications for new banks, credit unions, trust companies and foreign banking organizations are reviewed to ensure the proposed institution can be operated in a safe and sound manner. Applications for changes to existing charters or licenses for state-authorized or state-chartered institutions are also reviewed. Depository institutions are examined on a regular basis for on-going compliance with state and federal guidelines. The Office also regulates securities firms and other non-depository financial service companies, such as check cashers, mortgage brokers and lenders, retail installment companies and motor vehicle sellers that provide financing to their customers. Companies must be licensed to conduct business (unless exempt) prior to operating in the state. The Office examines registered companies and offices to assess their compliance with state regulations. We also investigate information alleging violations of state regulation by any company or individual, whether licensed or not, conducting financial service business in Florida. Please visit our website for important information for consumers and businesses. Through the website, you may check to see if a company or individual is registered with us. Information on how to apply for or renew a license is available, along with on-line functions for certain license types. The site also contains the statutes and rules related to banking, securities and finance companies. I urge all consumers to verify the company or institution with which you are dealing is properly licensed. I also encourage you to report any suspected misconduct to the Office. Remember – If it sounds too good to be true, it usually is!!! Sincerely, Don B. Saxon
Revised
Jan-07 | 
