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. In conjunction with the Florida Bar Business Law Section, we are proposing legislation to reform the Florida Securities and Investor Protection Act (Chapter 517, Florida Statutes). 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.
The draft 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
Invest Local Act Invest Local Act Summary
Track the progress of the bills – HB 311 and SB 532.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.
Public input is valuable to legislators as they formulate policies in our state. You are welcome to write a letter/email to your state public official to express how this draft legislation would affect you, your business, or Florida’s small business economy.
Contact your Local Representative
House Insurance and Banking Subcommittee
Senate Committee on Banking and Insurance
HB 311 Sponsor Representative Webster Barnaby
SB 532 Sponsor Senator Jason Brodeur
You can find information on how to communicate with members of the legislature below.
Florida Senate: Effective Communication with Your Legislator
Florida House of Representatives: Effective Communication with Your Representative
Please contact our office to learn more about our legislative initiative. Also, feel free to share this page and the feedback form with those in your community or network.
Want to stay up to date on our progress? Subscribe to our mailing list and stay in touch with how you can help build Florida’s start-up community. You can also follow us on X, Facebook, and LinkedIn!
Request a speaker if would like to have someone from OFR speak or present at your organization’s next event or meeting.