What legislation governs the regulation of the financial services industry?

In the state of Florida, the financial services industry is regulated by several different pieces of legislation. The most prominent of these regulations are the Florida Money Service Act, the Florida Consumer Finance Act, and the Financial Regulatory Code. The Florida Money Service Act (FMS Act) provides a framework for the licensing, supervision, and examination of money service businesses in the state. It also outlines registration requirements for certain businesses, such as check cashers and money transfers, and requires all money services businesses to follow certain anti-money laundering rules. The Florida Consumer Finance Act (CFA) is designed to protect consumers from unfair and deceptive practices by licensees of the Department of Financial Services. This Act also sets limits on the fees that licensees are permitted to charge consumers, as well as other restrictions on their activities. Finally, the Financial Regulatory Code (FRC) is a comprehensive set of regulations and guidelines that govern the financial services industry, including banking, lending, and investment services. The FRC includes provisions for the supervision, enforcement, and regulation of financial service providers, as well as consumer protection rules. Overall, these pieces of legislation combine to ensure that the financial services industry in Florida is properly and effectively regulated, and that consumers are adequately protected from unfair and deceptive practices.

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What legislation governs the regulation of the financial services industry?

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