FL S0314

Exempts securities dealers, investment advisers, and associated persons registered under section 517.12 from mortgage brokering regulation under Florida Statutes chapters 494 parts I and II when conducting securities business with corporate or individual clients

Allows exempt securities professionals to solicit or refer mortgage loans to securities clients through licensed mortgage brokers, lenders, or registered loan originators without becoming subject to mortgage broker regulations

Prohibits exempt securities professionals from accepting mortgage applications, negotiating loan terms, or negotiating the sale of existing mortgages to non-institutional investors

Requires any solicitations or referrals to comply with chapter 517, the federal Real Estate Settlement Procedures Act (12 U.S.C. § 2601 et seq.), and applicable federal and state law

Takes effect July 1, 2018