FL H0379

Adds and revises definitions in Florida's securities law (Ch. 517), including new definitions for "branch manager," "corporation," "director," "general partner," "limited liability company," "limited partner," "partnership," and "trust," and expands the definition of "intermediary" beyond natural persons to include legal entities registered with the Secretary of State.

Overhauls fingerprinting and background check requirements for securities registration applicants by specifying which natural persons (associated persons, officers, directors, and 5%+ owners) must submit fingerprints for live-scan processing, with costs borne by the applicant, and authorizes the Financial Services Commission to waive these requirements by rule after considering SEC, NASAA, and FINRA regulations.

Expands the exempt transaction provisions for nonissuer dealer transactions by allowing securities information to be verified through SEC's EDGAR system, broadens the foreign securities exemption to include foreign securities markets (not just exchanges), and revises the accredited investor categories eligible for exempt offerings to include family offices with $5 million+ in assets and entities owning $5 million+ in investments.

Increases the maximum delay that dealers and investment advisers may place on disbursements or transactions to protect specified adults from financial exploitation from 10 additional business days to 30 additional business days beyond the initial 15-day hold, and revises merger and acquisition broker provisions by raising the control person ownership threshold from 20% to 25% and adding new definitions for "business combination related shell company" and "shell company."

Amends the Securities Guaranty Fund by defining "restitution order," expanding eligibility to include named beneficiaries or victims of unsatisfied restitution orders entered on or after October 1, 2024, and allowing court-appointed receivers to file claims on behalf of eligible persons; also prohibits misrepresenting that a security or person has been guaranteed, sponsored, or approved by state or federal government.