Florida Leads Budget Helps OFR Further Mission0

Tallahassee, Fla. – The Office of Financial Regulation (OFR) today announces its support for Governor Ron DeSantis’ Florida Leads Budget.

Commissioner Russell C. Weigel, III, said, “The Florida Leads Budget will help the Office of Financial Regulation ensure the growth of Florida’s financial services industry and protect Floridians from financial fraud. I thank Governor DeSantis for his efforts to provide an environment for innovation and expansion of the financial services industry in Florida.”

The OFR provides regulatory oversight for Florida’s financial services providers and safeguards Floridians from financial harm. Through Governor DeSantis' Florida Leads budget, we've grown the financial services industry, and now have more than 472,000 total registered entities, an increase of nearly two percent. We also implemented a new Financial Technology Sandbox Innovator license to bring pioneering, consumer friendly products, like new payment services, to Florida. In addition, we implemented the Protection of Specified Adults legislation to protect vulnerable investors from financial exploitation. The OFR has also completed 46 percent more investigations so far this fiscal year, which led to the convictions of nine defendants and court ordered restitution of more than $28 million. 

The OFR remains committed to protecting Florida’s financial services consumers, promoting a safe and sound financial marketplace, and contributing to the growth of Florida’s economy through fair, innovative, and excellent regulation of the financial services industry.