ALERT – Registration Relief for Florida Locations Operating From Alternative Sites Due to Hurricane Irma

The Florida Office of Financial Regulation (“OFR”) provided relief to broker-dealers and investment advisers with locations that are registered or notice filed within the state that are displaced because of damage or power outages due to Hurricane Irma.  Pursuant to Florida Statutes, all locations in Florida that conduct business within the state must be registered branch offices or notice-filed.  See §§ 517.12(5) and 517.1202 Fla. Stats. On September 12, 2017, the OFR issued an emergency order providing guidance to Florida registered locations and notice filed investment advisers affected by Hurricane Irma.  Broker-dealers and investment advisers that have relocated due to damage or power outages must notify the OFR within five days of their move to an alternative location from which they are continuing to conduct securities business.  Notifications must be sent to Lee Kell at lee.kell@flofr.com and include the following information regarding the temporary location:

  • office address;
  • entities involved;
  • names of registered personnel;
  • contact telephone number;
  • expected duration (if possible); and
  • type of business engaged in from the location (e.g. broker/dealer, investment adviser, dba name, etc.)

The OFR also reminds registered persons to exercise due diligence when confirming customers identifies and supervising the accounts of customers affected by Hurricane Irma.

If you need assistance in notifying the OFR of your relocation or other matters affecting your broker-dealer or investment adviser operations resulting from Hurricane Irma, please contact Dionne Fajardo at 813-347-5118 or dfajardo@wiandlaw.com.