Florida Office of Financial Regulation

Florida Office of Financial Regulation

presentation to the

Financial Services Commission

April 14, 2015

Smart, Efficient and Effective Regulation

1

OFR Mission Statement

"To protect the citizens of Florida, promote a safe and sound financial marketplace, and

contribute to the growth of Florida's economy with smart, efficient and effective regulation of

the financial services industry."

? State-chartered banks, credit unions, trust companies, international bank agencies

? Mortgage lending and brokering, consumer finance companies

? Money services businesses, collection agencies, retail installment sellers and payday lenders

? Securities industry participants

2

Florida & the Nation

Consumer Finance: Mortgage Licenses

California:

Florida:

Texas: Washington: Pennsylvania:

47,423

22,196

17,852 14,111 13,783

Securities: Licensed Stockbrokers, Dealers, Branches and Investment Advisers

California: Texas:

Florida:

New York: New Jersey:

360,081 326,040

321,037

275,684 228,720

Financial Institutions: State-Chartered Banks & Credit Unions

Texas:

482

California:

293

Massachusetts: 201

Florida:

195

New York:

117

3

Vision

? Creating "One OFR" ? Smart, Efficient and Effective Regulation ? Increasing Outreach

? Communications ? Building Relationships

? Enhancing Taxpayer Value ? Expanding Data Collection and Analysis ? Making Data-Driven Decisions

4

Taxpayer Value Expectations

"To protect the citizens of Florida, promote a safe and sound financial marketplace, and contribute to the growth of Florida's economy with smart,

efficient and effective regulation of the financial services industry."

? Protect citizens: Florida taxpayers expect to be protected from financial crimes

? Promote a safe and sound financial marketplace: Florida taxpayers expect to do business in a safeguarded financial marketplace with a variety of choices

? Contribute to the growth of Florida's economy with smart, efficient and effective regulation: Florida taxpayers and businesses expect to be free of burdensome regulation

5

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download