CS/CS/HB 879 - Department of Financial Services Organization

• Reorganizes the Department of Financial Services by creating a new Division of Investigative and Forensic Services that consolidates insurance fraud investigation, fire and arson investigation, and related functions previously under separate divisions.

• Transfers the Chief Financial Officer's audit and adjustment authority over state accounts from the Division of Accounting and Auditing directly to the Chief Financial Officer position.

• Renames the "Division of Insurance Fraud" to "Division of Investigative and Forensic Services" throughout the Florida Statutes and authorizes it to conduct investigations and make arrests for criminal violations.

• Establishes the Division of Consumer Services with authority to impose administrative penalties up to $2,500 for entities and up to $1,000 for individuals that fail to respond to consumer complaints within 20 days.

• Renames the "Bureau of Unclaimed Property" to the "Division of Unclaimed Property" and makes conforming changes across multiple statutes related to fire safety, workers' compensation fraud reporting, and property disposition, effective July 1, 2016.