OFR News

07/02/2020

Tallahassee, Fla. – The Florida Office of Financial Regulation (OFR) today announced that Richard Vincent Leli was arrested and extradited from New York to face charges of securities fraud and communications fraud. At the time of the arrest and extradition, Leli was serving a sentence in a New York prison for grand larceny. CFO Jimmy Patronis said, “Today, scam artists are using new and creative ways to steal your hard-earned money. Floridians must stay...

06/30/2020

Read more: OFR Emergency Order 2020-04

06/15/2020

Today, OFR Commissioner Russell C. Weigel, III, offered the following statement regarding World Elder Abuse Awareness Day. “On World Elder Abuse Awareness Day and every day, I encourage Floridians and financial professionals to remain vigilant and know the red flags of elder financial scams and exploitation. With the social isolation that the current public health crisis can cause, our elderly may be more vulnerable to being targeted by a scammer. Help protect your elderly loved ones from...

06/03/2020

Tallahassee, Fla. – The Florida Office of Financial Regulation (OFR) today announced that Konstantinos Konstantinou voluntarily surrendered to the Hillsborough County Sheriff’s Office on an arrest warrant for his role in an investment fraud scheme. He is charged with securities fraud, acting as an unregistered securities dealer and organized fraud. CFO Jimmy Patronis said, “One of my top priorities as your CFO is to protect the citizens of Florida against fraud and...

05/12/2020

Tallahassee, Fla. – The Florida Office of Financial Regulation (OFR) announced that James Harold Hosner was sentenced to three years in prison for his role in a promissory note scheme targeting an elderly victim. In February, Hosner was found guilty of securities fraud, selling unregistered securities, selling securities as an unregistered person, and communications fraud (scheme to defraud) by a Pinellas County jury. CFO Jimmy Patronis said, “Orchestrating a fraud scheme to take advantage of...

05/04/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today reminds Money Transmitter Part II licensees they now have until June 1, 2020, to renew their licenses. Money Transmitter Part II licenses were previously set to expire on April 30, 2020. However, OFR Commissioner Russell C. Weigel, III, issued OFR Emergency Order 2020-01 on March 20, 2020, extending the deadline to June 1, 2020.Read OFR Emergency Order 2020-01. Review renewal information.

05/01/2020

DEPARTMENT OF FINANCIAL SERVICES Securities NOTICE IS HEREBY GIVEN that on April 29, 2020, the Florida Office of Financial Regulation, received a petition for emergency waiver of paragraph 69W-600.0024(6)(b) from Charles Kevin Miller. The emergency petition seeks a Waiver of paragraph 69W-600.0024(6)(b) which requires an associated person of an investment adviser or federal covered adviser to provide the Office with one of the following: 1. Proof of passing, within two years of the date...

04/17/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today issued an emergency order to allow additional time before a first payment is due on an automobile loan. A motor vehicle retail installment seller, licensed with OFR per Chapter 520, Florida Statutes, may allow the first payment of a motor vehicle retail installment contract to be scheduled up to 90 days from the date of the loan.

04/02/2020

Tallahassee, Fla. – On Friday, March 27, 2020, President Donald J. Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. This new federal law provides economic relief for businesses and individuals being negatively impacted by the outbreak of COVID-19. CFO Jimmy Patronis said, “As a former small business owner, I know all too well the burden the COVID-19 pandemic has had on our state’s small business community and we must do all we can to support them...

04/01/2020

Tallahassee, Fla. – As financial services organizations establish remote workplaces due to COVID-19, the Florida Office of Financial Regulation (OFR) is sharing information on cybersecurity tips for the security of information technology systems. As financial services businesses continue to navigate an everchanging situation and adjust to remote workstations, the following are some important cybersecurity tips: Ensure remote access systems are fully patched and appropriate system...

04/01/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today provided an update regarding the OFR Division of Securities' business operations and precautions that we're taking during this time to protect the health and safety of our employees and licensees. Operational Update for Securities Businesses & Professionals While OFR locations are closed to the public, our employees are teleworking and we're open for business. Please do not hesitate...

03/31/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today issued an emergency order to extend certain filing deadlines, occurring in March and April 2020. Certain filing deadlines for mortgage brokers, mortgage lenders, money service businesses, and securities businesses and professionals occurring in March and April 2020, are extended for a period of 45 days. Certain filing deadlines for state trust companies, registered family trust companies, state-chartered banks, and credit...

03/31/2020

Tallahassee, Fla. – Following a recent call with the Office of Financial Regulation (OFR), Chief Financial Officer (CFO) Jimmy Patronis released the following statement to encourage financial institutions and mortgage lenders to continue to provide relief for Florida homeowners and businesses dealing with financial impacts of COVID-19 pandemic. CFO Jimmy Patronis said, “The COVID-19 pandemic has disrupted our state’s economy and left Florida families looking for answers.

03/30/2020

Tallahassee, Fla. – CFO Patronis and Commissioner Weigel want Floridians to know that scammers are preying on Floridians’ fears surrounding COVID-19, taking advantage of unsuspecting victims while emotions are high and there is a sense of urgency surrounding this public health crisis. The Florida Office of Financial Regulation (OFR) is encouraging Floridians to remain vigilant while taking steps to protect themselves from scams. During this time, scammers may rely on various tactics to...

03/27/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) is hearing from banks, credit unions, mortgage companies, and other financial professionals across Florida about the ways they are helping Floridians through financial difficulties in this unprecedented time. Florida CFO Jimmy Patronis said, “While this public health emergency impacts communities across our state, we’re working to ensure Florida's financial institutions and service providers are...

03/24/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) is offering resources to Floridians who may need help finding information about their financial services provider(s), including state-chartered banks, credit unions, mortgage servicers or other financial businesses and professionals. OFR Commissioner Russell C. Weigel, III, said, "It's our priority to ensure that Floridians have these important resources at their fingertips as individuals and families respond to the...

03/20/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today issued guidance to Florida's consumer finance businesses and professionals. The OFR also issued an emergency order to extend OFR license renewal deadlines, occurring in March and April 2020, for a period of 30 days. OFR Consumer Finance Guidance Regarding COVID-19 OFR Emergency Order Regarding Renewal Deadlines.

03/18/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today provided an update to Florida’s financial institutions regarding the novel coronavirus disease 2019 (COVID-19). Update to Florida State-Chartered Financial Institutions Regarding COVID-19 Financial institutions in Florida are working with individuals and businesses to meet their financial needs. OFR will continue to communicate with state and federal agencies and the financial services industry regarding the latest..

03/16/2020

In response to our public health emergency and to help contain the spread of COVID-19, OFR is closing its physical office locations to the public beginning Tuesday, March 17, 2020, until further notice. Our offices are not closed for purposes of continuing state business, but the public will not be permitted to visit OFR offices until further notice. We are still here to serve you! Visit us online at www.flofr.gov or call us at 850-487-9687.

03/12/2020

Tallahassee, Fla. - The Florida Office of Financial Regulation (OFR) today provided informational guidance to Florida’s financial institutions regarding the novel coronavirus disease 2019 (COVID-19). Guidance to Florida State-Chartered Financial Institutions Regarding COVID-19 Federal Financial Institution Examination Council (FFIEC) Pandemic Guidance: https://www.ffiec.gov/press/pr030620.htm Financial institutions in Florida remain ready to work with Floridians to meet their financial needs.