The 2023 Florida Statutes (including Special Session C)

Title XXXIII
REGULATION OF TRADE, COMMERCE, INVESTMENTS, AND SOLICITATIONS

Chapter 517
SECURITIES TRANSACTIONS

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F.S. 517.221

517.221 Cease and desist orders.—

(1) The office may issue and serve upon a person a cease and desist order whenever the office has reason to believe that such person is violating, has violated, or is about to violate any provision of this chapter, any rule or order promulgated by the commission or office, or any written agreement entered into with the office.

(2) Whenever the office finds that conduct described in subsection (1) presents an immediate danger to the public requiring an immediate final order, it may issue an emergency cease and desist order reciting with particularity the facts underlying such findings. The emergency cease and desist order is effective immediately upon service of a copy of the order on the respondent named therein and remains effective for 90 days. If the office begins nonemergency cease and desist proceedings under subsection (1), the emergency cease and desist order remains effective until conclusion of the proceedings under ss. 120.569 and 120.57.

(3) The office may impose and collect an administrative fine against any person found to have violated any provision of this chapter, any rule or order promulgated by the commission or office, or any written agreement entered into with the office in an amount not to exceed $10,000 for each such violation. All fines collected hereunder shall be deposited as received in the Anti-Fraud Trust Fund.

(4) The office may bar, permanently or for a specific time period, any person found to have violated any provision of this chapter, any rule or order adopted by the commission or office, or any written agreement entered into with the office from submitting an application or notification for a license or registration with the office.

History.—s. 5, ch. 78-435; s. 5, ch. 80-254; ss. 2, 3, ch. 81-318; s. 11, ch. 86-85; ss. 14, 15, ch. 90-362; s. 4, ch. 91-429; s. 244, ch. 96-410; s. 606, ch. 2003-261; s. 12, ch. 2009-242.

F.S. 517.221 on Google Scholar

F.S. 517.221 on Casetext

Amendments to 517.221

Arrestable Offenses / Crimes under Fla. Stat. 517.221

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 517.221.

Annotations, Discussions, Cases:

Cases from cite.case.law:

J. P. MORGAN SECURITIES, LLC, v. GEVERAN INVESTMENTS LIMITED, L. P. LLC, GP, LLC, PCA LSG LLC, L. P. v. J. P. LLC, L. P. LLC, GP, LLC, PCA LSG LLC,, 224 So. 3d 316 (Fla. Dist. Ct. App. 2017)

. . . The final judgment awarded Geveran $25 million in rescissory damages under section 517.221 (3)(a), Florida . . .

SOUTH FLORIDA WATER MANAGEMENT DISTRICT, v. RLI LIVE OAK, LLC,, 139 So. 3d 869 (Fla. 2014)

. . . Section 517.221(3) authorized the Department of Banking and Finance to “impose and collect an administrative . . . fine.” § 517.221(3), Fla. . . .

DEPARTMENT OF BANKING AND FINANCE, DIVISION OF SECURITIES AND INVESTOR PROTECTION, v. OSBORNE STERN AND COMPANY,, 670 So. 2d 932 (Fla. 1996)

. . . convincing evidence in order to levy administrative fines against the applicant pursuant to section 517.221 . . . degree of proof required to justify the Department’s imposition of administrative fines under section 517.221 . . . Because the imposition of administrative fines under section 517.221(3), like license revocation proceedings . . . alleged violations of securities law by clear and convincing evidence before imposing fines under section 517.221 . . . Section 517.221(3) reads: The department may impose and collect an administrative fine against any person . . .

OSBORNE STERN AND COMPANY, INC. W. v. DEPARTMENT OF BANKING AND FINANCE, DIVISION OF SECURITIES AND INVESTOR PROTECTION,, 647 So. 2d 245 (Fla. Dist. Ct. App. 1994)

. . . cease and desist order and impose administrative fines against appellants and others under section 517.221 . . . Section 517.221, Florida Statutes, under which the Department issued its cease and desist order and under . . . Section 517.221, Florida Statutes (1989), provides in pertinent part: (1) The department may issue and . . .

R. STOCK, v. DEPARTMENT OF BANKING AND FINANCE,, 584 So. 2d 112 (Fla. Dist. Ct. App. 1991)

. . . order then indicated that the Department was proceeding pursuant to sections 120.59(3), 517.161, and 517.221 . . . registration under section 517.161(6)(b), and the other action was the cease and desist order under section 517.221 . . . Those orders were issued pursuant to section 517.221, Florida Statutes (1989), and remained effective . . .

WILEY P. a v. HUGHES CAPITAL CORPORATION,, 746 F. Supp. 1264 (D.N.J. 1990)

. . . (“Count Three”); Section 24(a)(2) of the NJUSL, N.J.Stat.Ann. 49:3-71(a)(2) (“Count Four”); Section 517.221 . . . Securities and Investor Protection Act (“FISPA”), Fla.Stat.Ann. § 517.211(1) (“Count Five”); Section 517.221 . . .

OIL RESOURCES, INC. a a v. STATE OF FLORIDA, DEPARTMENT OF BANKING AND FINANCE, DIVISION OF SECURITIES,, 583 F. Supp. 1027 (S.D. Fla. 1984)

. . . Section 517.221(2) F.S.A. (1978) (allows a hearing pursuant to § 120.-57 F.S.A.). . . . Section 517.221(1), F.S.A. provides as follows: The Department may issue and serve upon a person a Cease . . .

In F. ALVAREZ R. SHERMAN, v. F. ALVAREZ, 13 B.R. 571 (Bankr. S.D. Fla. 1981)

. . . . § 517.221, Florida Statutes. It adjudicates nothing and has no evidentiary value in this case. . . .