Florida SB 180 Securities Regulation

FL OFR Press Releases

Published June 9th, 2023

Detected April 7th, 2026

Summary

Florida Office of Financial Regulation Commissioner Russell C. Weigel, III issued a statement on Governor DeSantis signing Florida Senate Bill 180 – Securities Regulation. The bill takes effect October 1, 2023, and eliminates issuer-dealer registration requirements and issuer escrow requirements, exempts advisers to private funds from registration, reduces a filing fee, and establishes continuing education requirements for associated persons of investment advisers and federal covered advisers.

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What changed

Governor Ron DeSantis signed Florida SB 180 into law, making substantive changes to Florida securities regulation. The bill eliminates issuer-dealer registration requirements, removes issuer escrow requirements, exempts advisers to private funds from registration, reduces a filing fee, and establishes continuing education requirements for associated persons of investment advisers and federal covered advisers. The legislation also updates and clarifies statutory language and definitions.

Regulated entities should review their current registration status and determine whether the new exemptions apply to their operations. Investment advisers and federal covered advisers must ensure their associated persons meet the new continuing education requirements. The bill takes effect October 1, 2023, giving affected parties approximately four months to update compliance procedures and systems.

What to do next

Review registration status and exemption eligibility under new private fund adviser exemption
Update compliance procedures to accommodate continuing education requirements for associated persons
Verify filing fee amounts and update billing systems accordingly

Source document (simplified)

Statement on the Signing of Securities Legislation

06/09/2023

Tallahassee, Fla. – Today, the Office of Financial Regulation (OFR) Commissioner Russell C. Weigel, III, offered the following statement on Governor DeSantis signing Florida Senate Bill 180 – Securities Regulation.

OFR Commissioner Russell C. Weigel, III, said, “The Office of Financial Regulation will continue to encourage modernization in the financial services industry while ensuring Floridians are protected from scams and bad actors. I thank Governor Ron DeSantis for his support in ensuring that Florida continues to attract financial services businesses to the state. Thank you also to our bill sponsors, Senator Joe Gruters and Representative Webster Barnaby, for their support of this legislation.”

SB 180 – Securities Regulation updates and clarifies language and certain references, revises and adjusts certain definitions, eliminates issuer-dealer registration requirements, eliminates an issuer escrow requirement, exempts advisers to private funds from registration, reduces a filing fee, and provides continuing education requirements for associated persons of investment advisers and federal covered advisers. The bill has an effective date of October 1, 2023.

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