Section 69C-2.031 - Confirmation Information of Pledged Collateral(1) To confirm information of pledged collateral, a custodian: (a) must confirm pledged collateral: 1. whose account name on the records of the custodian is the specified pledgor; and2. that is pledged to the Chief Financial Officer to secure public deposits pursuant to the Florida Security for Public Deposits Act;(b) must not confirm pledged collateral that is either: 1. recorded under any account name other than the pledgor;2. not pledged to the Chief Financial Officer; or3. pledged for purposes other than to secure public deposits pursuant to the Florida Security for Public Deposits Act.(2) The confirmation information of pledged collateral must contain all of the following data applicable to a specific collateral type:(b) special identification number;(c) custodian federal employer identification number (FEIN);(d) custodian legal name;(e) pledgor's legal name;(g) identifying number for collateral; and(h) original par or face amount or number of units or shares.(3) The custodian must restrict abbreviations used in the confirmation to those accepted industry wide.(4) Except as provided in (5), to provide confirmation information of pledged collateral as described in subsections (1) and (2), the custodian must facilitate secure electronic data exchange, daily, to a third-party vendor procured by the Chief Financial Officer which allows access to the Florida public depository custodial accounts of each qualified public depository.(5) Only if directed by the Chief Financial Officer, or his or her designee, a custodian must provide the confirmation information of pledged collateral as described in subsections (1) and (2), to the Chief Financial Officer electronically through email at CollateralManagement@myfloridacfo.com.(6) Within 120 calendar days after the effective date of this Rule, a custodian must be fully compliant with subsection (4).Fla. Admin. Code Ann. R. 69C-2.031
Rulemaking Authority 280.014, 280.19, 280.041(7) FS. Law Implemented 280.02, 280.04, 280.041, 280.05 FS.
New 5-27-97, Formerly 4C-2.031, Amended by Florida Register Volume 50, Number 231, November 26, 2024 effective 12/9/2024.New 5-27-97, Formerly 4C-2.031.