It is the intent of the Legislature that the provisions of this Act accomplish the following: [2023, c. 662, §2 (NEW).]
1.Coordination. Ensure states can coordinate in all areas of regulation, licensing and supervision to eliminate unnecessary regulatory burden and more effectively use regulator resources; [2023, c. 662, §2 (NEW).]
2.Protection of public. Protect the public from financial crime; [2023, c. 662, §2 (NEW).]
3.Standardization. Standardize the types of activities that are subject to licensing or otherwise exempt from licensing; and [2023, c. 662, §2 (NEW).]
4.Modernization. Modernize safety and soundness requirements to ensure customer funds are protected in an environment that supports innovative and competitive business practices. [2023, c. 662, §2 (NEW).]
Added by 2024, c. 662,§ 2, eff. 8/9/2024.