State RegulationsFL specificDifficulty 1/5
Which of the following is a general duty of the Florida Office of Financial Regulation?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
The Office of Financial Regulation (OFR), operating under the Financial Services Commission, supervises Florida's non-insurance financial services industry: state-chartered banks and credit unions, consumer finance companies, and the securities industry. Its mission is to ensure safe and sound financial institutions and to protect consumers of financial services.
Why the other options are wrong
- A) Policy form approval belongs to the Office of Insurance Regulation, not the OFR.
- B) Investigating agent misconduct belongs to the Department of Financial Services under the Chief Financial Officer.
- D) The unclaimed property program is administered by the Department of Financial Services, not the OFR.
Memory hook
OFR = safe banks, sound securities, protected consumers.