An intermediary is a natural person residing in the state or a corporation, trust, partnership, association, or other legal entity registered with the Secretary of State to do business in the state, which facilitates the offer or sale of securities under Chapter 517.0611, Florida Statutes (F.S.).
An intermediary of a crowdfunded securities offering under Florida’s Intrastate Crowdfunding Exemption (s. 517.0611, F.S.) must either be registered as a dealer, or file an application for registration as an intermediary with the Office of Financial Regulation (OFR).
The Florida Division of Securities utilizes the Regulatory Enforcement and Licensing (REAL) System for the registration of crowdfunding intermediaries. This online system enables crowdfunding intermediaries to submit the Form FL-INT, Registration of Crowdfunding Intermediary Application, documents and fees electronically. Additional filing requirements shall be submitted as prescribed in Chapter 517.12(20), F.S., and 69W-600.0019, Florida Administrative Code (F.A.C.). Social Security Numbers are collected for regulatory purposes pursuant to Chapter 517.12(20), F.S.
Paper applications for crowdfunding intermediaries received by the OFR will be returned to the applicant with instructions for filing electronically.
Required fingerprint submissions for control affiliates listed on Form FL-INT shall be filed electronically.
Amendments to Form FL-INT
If the information contained on the Form FL-INT becomes inaccurate for any reason, the crowdfunding intermediary shall file an amendment on the Form FL-INT, correcting the information within 30 days.
Amendment filings shall be made through Online Services.
Crowdfunding intermediaries shall file notices of termination on the Form FL-INT. Termination filings shall be submitted through Online Services.
Renewal fees for crowdfunding intermediaries shall be paid electronically through the REAL System of the OFR. It is incumbent upon the registrant, not the OFR, to ensure that the renewal payment is submitted timely. The renewal fee is $200 for each intermediary. Registrants should refer to Section 517.12(20), F.S., and Rule 69W-600.0019, F.A.C., for additional guidance.
Crowdfunding intermediaries are subject to the requirements found in Chapter 517, F.S., the Securities and Investor Protection Act, and the administrative rules, Sections 69W-100 through 69W-1000, F.A.C.