Current through Reg. 50, No. 187; September 24, 2024
(1) The application for authority to
establish an international branch, or international bank agency, shall be filed
on Form OFR-U-20, Application for the Establishment of an International Branch
or International Bank Agency in the State of Florida, effective 01/2018, herein
incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08795.
The application for authority to establish an international representative
office or international administrative office shall be filed on Form OFR-U-20A,
Application for the Establishment of an International Representative Office or
International Administrative Office in the State of Florida, effective 01/2018,
herein incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08797.
The application to convert an international bank agency to an international
branch shall be filed on Form OFR-U-20B, Application to Convert an
International Bank Agency to an International Branch, effective 01/2018, herein
incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08801.
The application for authority to organize an international development bank
shall be filed on Form OFR-U-20C, Application for Authority to Organize an
International Development Bank, effective 01/2018, herein incorporated by
reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08791.
The application for authority to convert a currently licensed international
banking office to an office of a different type shall be filed on Form
OFR-U-20E, Application for Authority to Convert a Licensed International
Banking Office to an Office of a Different Type, effective 01/2018, herein
incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08792.
The application shall be submitted with a nonrefundable filing fee in the
amount prescribed by Section
663.12, F.S., which is made
payable to the Office of Financial Regulation (OFR).
(2) An applicant which seeks authority to
establish an international branch, international bank agency, international
administrative office, or an international representative office may, in lieu
of submitting its application on the form prescribed by the OFR in subsection
(1), above, submit its application on such form and containing such information
as is required by the Board of Governors of the Federal Reserve
System.
(3) An applicant which
seeks authority to establish an international branch, international bank
agency, international administrative office, or an international representative
office may submit the biographical information concerning its directors,
executive officers, principal shareholders and proposed Florida management in
the same form that such information was submitted to the Board of Governors of
the Federal Reserve System on Interagency Biographical and Financial Report FR
2081c (expiration 12/31/2017), herein incorporated by reference and available
at https://www.flrules.org/Gateway/reference.asp?No=Ref-07395.
The financial information in FR 2081c need not be provided.
(4) After the Fact Licensure In the Event of
Acquisition, Merger, or Consolidation. Pursuant to section
663.0601, F.S., if an
international banking corporation proposes to acquire, merge, or consolidate
with an international banking corporation that presently operates an
international branch, international bank agency, international administrative
office, or international representative office licensed in the State of
Florida, the OFR may allow the currently licensed office to remain open and in
operation after the consumation of a proposed acquisition, merger, or
consolidation subject to certain conditions. An after-the-fact application for
authority to establish an international branch or international bank agency
shall be filed on Form OFR-U-20, Application for the Establishment of an
International Branch or International Bank Agency in the State of Florida,
effective 01/2018, which is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08795.
The application shall be submitted with a nonrefundable filing fee in the
amount prescribed by Section
663.12(1),
F.S., which is made payable to the OFR. An after-the-fact application for
authority to establish an international administrative office or an
international representative office shall be filed on Form OFR-U-20A,
Application for the Establishment of an International Representative Office or
International Administrative Office in the State of Florida, effective 01/2018,
which is hereby incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08797.
The application shall be submitted with a nonrefundable filing fee in the
amount prescribed by Section
663.12(1),
F.S., which is made payable to the OFR.
(a)
At least 30 days prior to the consumation of the acquisition, merger, or
consolidation, the international banking corporation currently licensed to
operate an international branch, international bank agency, international
administrative office, or international representative office in Florida must
provide the OFR a written notice. This written notice shall contain the
following:
1. The name, home jurisdiction,
and home country supervisor of each party to the transaction.
2. The effective date of the proposed
transaction.
3. The type and terms
of the transaction. The written notice must indicate whether the proposed
transaction is an aqcuisition, merger, or consolidation, and give a brief
description of the terms of the proposed transaction, including the names of
the current and resulting entities, any reasons for engaging in the proposed
transaction, and any proposed change to the board of directors.
4. If the proposed transaction will result in
a change of home country supervisor, the written notice must include the name
and home country jurisdiction of the new home country supervisor.
5. Certification that the international
branch, international bank agency, international administrative office, or
international representative office will not engage in any new lines of
business or otherwise expand its activities until final disposition of the
after-the-fact application.
6.
Certification that the proposed transaction will not result in violation of
subsection (1) of Section
663.0601,
F.S.
(5)
Pursuant to Section 663.05(4),
F.S., an international banking corporation that has operated an international
branch, international bank agency, international administrative office, or
international representative office in this state for at least three years in a
safe and sound manner, as defined by commission rule, and that is otherwise
eligible to establish an additional office may establish one or more additional
international branches, international bank agencies, international
administrative offices, or international representative offices by providing an
abbreviated application. An international banking corporation may not use an
abbreviated application to seek licensure for any license type whose
permissible activities are broader than those in which the international
banking corporation is currently authorized to engage.
(a) For the purposes of this subsection,
"safe and sound manner" means operating without violating any agreement in
writing with, or order issued by, a state or federal regulatory agency, or
engaging in any practice, conduct, or violation found by the OFR to be contrary
to Title XXXVIII, F.S., or that otherwise creates the likelihood of loss,
insolvency, or dissipation of assets or otherwise prejudices the interest of
the international banking corporation or its customers.
(b) The abbreviated application for authority
to establish an additional international branch or international bank agency
shall be filed on Form OFR-U-20 ABR, Abbreviated Application for the
Establishment of an Additional International Branch or International Bank
Agency in the State of Florida, effective 01/2018, herein incorporated by
reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08796.
This abbreviated application shall be submitted with the appropriate
nonrefundable filing fee in the amount prescribed by Section
663.12(1), F.S.
The abbreviated application for authority to establish an additional
international administrative office or international representative office
shall be filed on Form OFR-U-20A ABR, Abbreviated Application for the
Establishment of an Additional International Administrative Office or
International Representative Office in the State of Florida, effective 01/2018,
herein incorporated by reference and available at
http://www.flrules.org/Gateway/reference.asp?No=Ref-08798.
This abbreviated application shall be submitted with the appropriate
nonrefundable filing fee in the amount prescribed by Section
663.12(1),
F.S.
(6) For applications
filed on or after January 1, 2018, the timelines contained in this subsection
will apply to each application for authority to establish an international
branch, international bank agency, international administrative office, or
international representative office.
(a) The
original and one copy of the application in the format required by OFR,
accompanied by the prescribed fee, shall be filed with the Office of Financial
Regulation, Division of Financial Institutions, 200 East Gaines Street,
Tallahassee, Florida 32399-0371. No application will be deemed filed or
received for publication unless accompanied by the proper filing fee. All
filing fees for any license action covered by these rules are nonrefundable.
Upon receipt of the application and the accompanying fee, the applicant shall
be so notified by OFR.
(b) The OFR
shall have published in the F.A.R. notice of the application within 21 days
after receipt.
(c) Within 21 days
after publication of notice, any person may request a hearing. Failure to
request a hearing within 21 days after notice constitutes a waiver of any right
to a hearing. The OFR or an applicant may request a hearing at any time prior
to the issuance of a final order. Hearings shall be conducted pursuant to
Sections 120.569 and
120.57, F.S.
(d) Should a hearing be requested as provided
by paragraph (c), the applicant or licensee shall publish at its own cost a
notice of the hearing in a newspaper of general circulation in the area
affected by the application.
(e)
All information the applicant wants to present to support the application
should be submitted with the original filing. The required exhibits in the
application forms are not intended to limit the applicant's presentation of any
of the requirements, but merely represent the minimum information required to
be filed. All additional information and/or complete correction of all errors
or omissions must be submitted within 60 days after requested by OFR.
Applicant's failure to respond to such request within 60 days after the date of
the request shall be construed by OFR as grounds for denial of an application
in accordance with the provisions of Section
120.60(1),
F.S., and the file shall be closed, unless good cause is shown that it remain
open. Should the file be closed pursuant to these provisions, the applicant
shall be duly notified.
(f) An
applicant may amend the application as to those factors generally within the
control or selection of the applicant once, as a matter of course, at any time
within 30 days from its receipt for filing. Otherwise, the application may only
be amended with permission from OFR. Requests to make material changes filed at
any time after the application has been received shall be deemed by OFR to be
grounds for denial, and upon such denial a new application accompanied by the
appropriate filing fee shall be required. If OFR grants a request to make
material changes in the application, the amended application will be treated as
a new application with respect to the applicable rules of this chapter, except
that no additional filing fee shall be required. When an application is denied
on the grounds set forth above, the applicant shall be duly notified.
(g) Upon a request from an applicant, OFR
shall permit the filing of supplemental information external to the application
which sets forth evidence of changing economic conditions and transactions,
occurrences, or events having a bearing on the application and which have taken
place since the application was filed. Such supplemental information must be
filed within a reasonable time after the information is known by the applicants
but in no event later than 10 days before the hearing, if one has been
requested.
(h) An application for
authority to establish an international branch, an international bank agency,
an international administrative office, or an international representative
office must be approved or denied within 180 days after receipt of the original
application, or receipt of the timely requested additional information or
correction of errors or omissions. An application for such a license which is
not approved or denied within the 180-day period or within 30 days after
conclusion of a public hearing on the application, whichever is later, shall be
deemed approved subject to the satisfactory completion of conditions required
by statute as a prerequisite to license.
(i) The applicant may withdraw the
application at any time by filing a written notice of withdrawal from the
correspondent as designated on the application form with OFR. OFR shall publish
notice of the withdrawal within 21 days of its receipt, if the original
application required public notice.
(7) Forms OFR-U-20, OFR-U-20A, and OFR-U-20B,
which are incorporated herein by reference, may be obtained online at
www.flofr.gov. Forms may also be obtained at
no cost by request to the Office of Financial Regulation, Division of Financial
Institutions, 200 East Gaines Street, Tallahassee, Florida
32399-0371.
(8) Notice Regarding
Collection and Use of Social Security Numbers. The forms incorporated by
reference in this rule request that the applicant provide his or her social
security number. In accordance with Sections 119.071(5)(a)2.a. and b., F.S.,
the OFR gives the following notice to applicants regarding the OFR's collection
and use of social security numbers:
(a) The
OFR's collection of social security numbers is not expressly authorized by or
mandatory under federal or state law, but it is imperative for the performance
of the OFR's duties and responsibilities as prescribed by Sections
663.05(5) and
(8), F.S., to ensure the safe and sound
management and operations of offices of international banking corporations in
this state.
(b) Social security
numbers collected by the OFR may not be used by the OFR for any purpose other
than the purpose provided in this notice.
(c) Social security numbers held by the OFR
are confidential and exempt from Section
119.07(1),
F.S., and Section 24(a), Article I of the State Constitution. This exemption
does not supersede any federal law prohibiting the release of social security
numbers or any other applicable public records exemption for social security
numbers existing prior to May 13, 2002, or created thereafter.
(d) Social security numbers held by the OFR
may be disclosed if any of the following apply:
1. The disclosure of the social security
number is expressly required by federal or state law or a court
order;
2. The disclosure of the
social security number is necessary for the receiving agency or governmental
entity to perform its duties and responsibilities;
3. The individual expressly consents in
writing to the disclosure of his or her social security number;
4. The disclosure of the social security
number is made to comply with the USA Patriot Act of 2001,
Pub. L. No.
107-56, or Presidential Executive Order
13224;
5. The disclosure of the
social security number is made to a commercial entity for the permissible uses
set forth in the federal Driver's Privacy Protection Act of 1994,
18 U.S.C. sections
2721 et seq.; the Fair Credit Reporting Act,
15 U.S.C. sections
1681 et seq.; or the Financial Services
Modernization Act of 1999, 15 U.S.C. sections 6801 et seq.,
provided that the authorized commercial entity complies with the requirements
of this paragraph;
6. The
disclosure of the social security number is for the purpose of the
administration of health benefits for an agency employee or his or her
dependents;
7. The disclosure of
the social security number is for the purpose of the administration of a
pension fund administered for the agency employee's retirement fund, deferred
compensation plan, or defined contribution plan; or
8. The disclosure of the social security
number is for the purpose of the administration of the Uniform Commercial Code
by the office of the Secretary of
State.
Rulemaking Authority 655.012(2), 663.05(4), 663.05(5),
663.05(6), 663.05(9), 663.0601(2), 663.10, 663.304, 663.13 FS. Law Implemented
119.071(5)(a),
663.04,
663.05,
663.0601,
663.10,
663.304
FS.
New 7-21-81, Amended 12-20-82, 3-8-84, Formerly 3C-15.09,
Amended 2-9-87, 10-1-87, 10-10-88, 1-24-89, Formerly 3C-15.009, Amended
3-22-93, 9-5-94, Formerly 3C-140.050, Amended 11-5-97, 3-11-02, Formerly
3C-140.002, Amended 8-28-16, 1-1-18.
