OFR Legislative Initiative

~The Invest Local Act: Funding Entrepreneurs and Growing Local Investments~

The Office of Financial Regulation (OFR) is the primary regulator of the state-chartered and licensed financial services industries in Florida. Our goal is to promote Florida’s economy through the creation of a self-sustaining, in-state capital market where newly formed businesses can obtain seed or expansion capital. The desired outcome is to have Florida residents and businesses obtain capital from within our state and ultimately remain in Florida and contribute to the state’s economy.

In conjunction with the Florida Bar Business Law Section, the OFR proposed legislation to reform the Florida Securities and Investor Protection Act (Chapter 517, Florida Statutes). The bill was passed by the Legislature and signed by the Governor on May 10, 2024. SB 532 – Securities, known as the Invest Local Act, becomes effective October 1, 2024.

The legislation contains the following marketplace features:

  • An invest local offering exemption
  • A Florida limited offering exemption
  • An investor-friendly accredited investor exemption
  • A safe harbor for demo day and pitch events
  • A pre-offering exemption for testing the waters for potential investor interest
  • An integration provision for all offering exemptions
  • Enhanced investor protection measures
  • Streamlined registration provisions
  • Updated definitions

We sought and received feedback from Florida capital financing professionals, entrepreneurial support organizations, and from a task force formed by the Florida Bar. Please read our industry feedback below.

Please contact our office to learn more about the Invest Local Act. Also, feel free to share this page and the feedback form with those in your community or network.

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