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CFO Jimmy Patronis Statement on Vital Protections for Vulnerable Investors

9/22/2020

For Immediate Release: Tuesday, September 22, 2020
Contact: Office of Communications, Communications@MyFloridaCFO.com, 850.413.2842

CFO Jimmy Patronis Statement on Vital Protections for Vulnerable Investors

TALLAHASSEE, Fla. – Today, Chief Financial Officer (CFO) Jimmy Patronis issued a statement following the meeting of the Governor and Cabinet where a rule presented by Office of Financial Regulation was approved implementing provisions of recently passed legislation to protect vulnerable investors. Championed by CFO Patronis this year, House Bill 813 provides financial brokers and advisors who recognize signs of financial exploitation with additional tools to protect vulnerable investors.

CFO Jimmy Patronis said, “As your CFO, it is my top priority to protect consumers from financial fraud and scams, and especially our large senior population. These individuals work their entire lives to build a nest egg and we must protect them from bad actors looking to make a quick buck. I was proud to support HB 813 as it moved through session last year and thank Senator Doug Broxson and Representative Lawrence McClure for their work to ensure vulnerable investors are protected from exploitation.

“Thank you to Commissioner Weigel and the team at the Office of Financial Regulation for working to implement this rule and moving forward on implementing vital financial protections for Florida’s seniors.”

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About CFO Jimmy Patronis 
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).