Pub. Rec./Office of Financial Regulation

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An act relating to public records; reenacting and 2
amending s. 560.129, F.S.; expanding a public records 3
exemption for certain information obtained by the 4
Office of Financial Regulation concerning or during 5
the course of an investigation or examination 6
conducted by the office, including customer and 7
consumer complaints, to incorporate the inclusion of 8
documents relating to virtual currency businesses, 9
qualified payment stablecoin issuers, and money 10
transmitters acting as custodians of gold coin and 11
silver coin; providing for future legislative review 12
and repeal of the exemptions; providing statements of 13
public necessity; amending s. 560.312, F.S.; expanding 14
a public records exemption for payment instrument 15
transactions to incorporate the inclusion of money 16
transmitters acting as custodians of gold coin and 17
silver coin; providing for future legislative review 18
and repeal of the exemption; amending s. 560.4041, 19
F.S.; expanding a public records exemption for 20
deferred presentment transactions to incorporate the 21
inclusion of money transmitters acting as custodians 22
of gold coin and silver coin; providing for future 23
legislative review and repeal of the exemption; 24
providing a statement of public necessity; reenacting 25

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and amending s. 655.057, F.S.; expanding a public 26
records exemption for certain information obtained by 27
the office concerning an investigation or examination 28
conducted by the office, including reports or papers 29
of examinations, operations, or condition, and trade 30
secrets to incorporate the inclusion of trust 31
companies that are qualified payment stablecoin 32
issuers and money transmitters acting as custodians of 33
gold coin and silver coin; providing for future 34
legislative review and repeal of the exemption; 35
providing statements of public necessity; reenacting 36
and amending s. 655.50, F.S.; expanding a public 37
records exemption for reports and records filed with 38
the office to incorporate the inclusion of financial 39
institutions that are trust companies that are 40
qualified payment stablecoin issuers and money 41
transmitters acting as custodians of gold coin and 42
silver coin; providing statements of public necessity; 43
providing contingent effective dates. 44
45
Be It Enacted by the Legislature of the State of Florida: 46
47
Section 1. Effective on the same date that HB 175 or SB 48
198, 2026 Regular Session, or similar legislation takes effect, 49
if such legislation is adopted in the same legislative session 50

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or an extension thereof and becomes a law, or sections 1 through 51
15 of chapter 2025-100, Laws of Florida, take effect, present 52
subsection (7) of section 560.129, Florida Statutes, is 53
redesignated as subsection (8), a new subsection (7) is added to 54
that section, and subsections (1), (2), and (4) of that section 55
are reenacted, to read: 56
560.129 Confidentiality.— 57
(1) Except as otherwise provided in this section, all 58
information concerning an investigation or examination conducted 59
by the office pursuant to this chapter, including any customer 60
complaint received by the office or the Department of Financial 61
Services, is confidential and exempt from s. 119.07(1) and s. 62
24(a), Art. I of the State Constitution until the investigation 63
or examination ceases to be active. For purposes of this 64
section, an investigation or examination is considered "active" 65
so long as the office or any other administrative, regulatory, 66
or law enforcement agency of any jurisdiction is proceeding with 67
reasonable dispatch and has a reasonable good faith belief that 68
action may be initiated by the office or other administrative, 69
regulatory, or law enforcement agency. 70
(2) All information obtained by the office in the course 71
of its investigation or examination which is a trade secret, as 72
defined in s. 688.002, or which is personal financial 73
information shall remain confidential and exempt from s. 74
119.07(1) and s. 24(a), Art. I of the State Constitution. If any 75

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administrative, civil, or criminal proceeding against a money 76
services business, its authorized vendor, or an affiliated party 77
is initiated and the office seeks to use matter that a licensee 78
believes to be a trade secret or personal financial information, 79
such records shall be subject to an in camera review by the 80
administrative law judge, if the matter is before the Division 81
of Administrative Hearings, or a judge of any court of this 82
state, any other state, or the United States, as appropriate, 83
for the purpose of determining if the matter is a trade secret 84
or is personal financial information. If it is determined that 85
the matter is a trade secret, the matter shall remain 86
confidential. If it is determined that the matter is personal 87
financial information, the matter shall remain confidential 88
unless the administrative law judge or judge determines that, in 89
the interests of justice, the matter should become public. 90
(4) Except as necessary for the office or any other 91
administrative, regulatory, or law enforcement agency of any 92
jurisdiction to enforce the provisions of this chapter or the 93
law of any other state or the United States, a consumer 94
complaint and other information concerning an investigation or 95
examination shall remain confidential and exempt from s. 96
119.07(1) and s. 24(a), Art. I of the State Constitution after 97
the investigation or examination ceases to be active to the 98
extent that disclosure would: 99
(a) Jeopardize the integrity of another active 100

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investigation; 101
(b) Reveal personal financial information; 102
(c) Reveal the identity of a confidential source; or 103
(d) Reveal investigative techniques or procedures. 104
(7) Subsections (1), (2), and (4) are subject to the Open 105
Government Sunset Review Act in accordance with s. 119.15 and 106
shall stand repealed on October 2, 2031, unless reviewed and 107
saved from repeal through reenactment by the Legislature. 108
Section 2. (1) The Legislature finds all of the 109
following: 110
(a) It is a public necessity that all information 111
concerning an investigation or examination of a money services 112
business conducted by the Office of Financial Regulation 113
pursuant to chapter 560, Florida Statutes, including a consumer 114
complaint, be made confidential and exempt from s. 119.07(1), 115
Florida Statutes, and s. 24(a), Article I of the State 116
Constitution until the investigation or examination ceases to be 117
active. The Legislature further finds that such information 118
should remain confidential and exempt from s. 119.07(1), Florida 119
Statutes, and s. 24(a), Article I of the State Constitution 120
after the investigation or examination ceases to be active if 121
its disclosure would jeopardize the office's investigations by 122
revealing techniques or procedures or otherwise reveal 123
information that is being used in another investigation, or if 124
disclosure would reveal personal financial information or a 125

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confidential source. 126
(b) It is a public necessity that trade secrets or 127
personal financial information obtained by the office in the 128
course of an investigation or examination pursuant to chapter 129
560, Florida Statutes, be made confidential and exempt from s. 130
119.07(1), Florida Statutes, and s. 24(a), Article I of the 131
State Constitution, unless an administrative law judge or 132
circuit judge determines that the release of personal financial 133
information to the public is in the interest of justice. 134
(2) Information specified in subsection (1) is held by the 135
office in conjunction with its investigations and examinations 136
of money services businesses, which include virtual currency 137
kiosk businesses, as defined in s. 560.103, Florida Statutes, as 138
amended by chapter 2025-100, Laws of Florida. Virtual currency 139
kiosk businesses are thus subject to investigation or 140
examination by the office. As a result, the office may receive 141
sensitive personal and financial information relating to such 142
entities in conjunction with its duties under chapter 560, 143
Florida Statutes. An exemption from public records requirements 144
provides the same protections to virtual currency kiosk 145
businesses as are afforded to other money services businesses, 146
thereby preventing any disadvantage to these similarly regulated 147
entities in comparison to other entities currently classified as 148
money services businesses. An exemption from public records 149
requirements for reports of examinations, operations, or 150

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condition, including working papers, is necessary to ensure the 151
office's ability to effectively and efficiently administer its 152
examination and investigation duties. Examination and 153
investigation are essential components of financial institutions 154
regulation. They deter fraud and ensure the safety and soundness 155
of the financial system. Examinations and investigations also 156
provide a means of early detection of violations, allowing for 157
corrective action to be taken before any harm can be done. 158
Release of such information could compromise the office's 159
examinations or investigations, reveal investigative techniques, 160
or result in the disclosure of an individual's personal 161
financial information. Such disclosure could also result in the 162
release of inaccurate information, which could harm the subject 163
of the examination or investigation, or otherwise impair 164
commerce relating to money services businesses. The Legislature 165
finds that there is little public benefit derived from access to 166
such information during the office's examinations or 167
investigations, and that the exemption is narrowly tailored to 168
allow for release except where the public benefit is outweighed 169
by harm to either the office's investigations or examinations or 170
to individuals whose personal financial information may be 171
disclosed. 172
(3) This section shall take effect on the same date that 173
SB 198 or similar legislation takes effect, if such legislation 174
is adopted in the same legislative session or an extension 175

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thereof and becomes a law. 176
Section 3. (1) The Legislature finds all of the 177
following: 178
(a) It is a public necessity that all information 179
concerning an investigation or examination of a money services 180
business conducted by the Office of Financial Regulation 181
pursuant to chapter 560, Florida Statutes, including a consumer 182
complaint, be made confidential and exempt from s. 119.07(1), 183
Florida Statutes, and s. 24(a), Article I of the State 184
Constitution until the investigation or examination ceases to be 185
active. The Legislature further finds that such information 186
should remain confidential and exempt from s. 119.07(1), Florida 187
Statutes, and s. 24(a), Article I of the State Constitution 188
after the investigation or examination ceases to be active if 189
its disclosure would jeopardize the office's investigations or 190
examinations by revealing techniques or procedures or otherwise 191
reveal information that is being used in another investigation 192
or examinations, or if disclosure would reveal personal 193
financial information or a confidential source. 194
(b) It is a public necessity that trade secrets or 195
personal financial information obtained by the office in the 196
course of an investigation or examination pursuant to chapter 197
560, Florida Statutes, be made confidential and exempt from s. 198
119.07(1), Florida Statutes, and s. 24(a), Article I of the 199
State Constitution, unless an administrative law judge or 200

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circuit judge determines that the release of personal financial 201
information to the public is in the interest of justice. 202
(2) Information specified in subsection (1) is held by the 203
office in conjunction with its investigations and examinations 204
of money services businesses, which include qualified payment 205
stablecoin issuers, as defined in s. 560.103, Florida Statutes, 206
as amended by chapter 2025-100, Laws of Florida. Qualified 207
payment stablecoin issuers are thus subject to investigation or 208
examination by the office. As a result, the office may receive 209
sensitive personal and financial information relating to such 210
entities in conjunction with its duties under chapter 560, 211
Florida Statutes. An exemption from public records requirements 212
provides the same protections to qualified payment stablecoin 213
issuers as are afforded to other money services businesses, 214
thereby preventing any disadvantage to these similarly regulated 215
entities in comparison to other entities currently classified as 216
money services businesses. An exemption from public records 217
requirements for reports of examinations, operations, or 218
condition, including working papers, is necessary to ensure the 219
office's ability to effectively and efficiently administer its 220
examination and investigation duties. Examination and 221
investigation are essential components of financial institutions 222
regulation. They deter fraud and ensure the safety and soundness 223
of the financial system. Examinations and investigations also 224
provide a means of early detection of violations, allowing for 225

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corrective action to be taken before any harm can be done. 226
Release of such information could compromise the office's 227
examinations or investigations, reveal investigative techniques, 228
or result in the disclosure of an individual's personal 229
financial information. Such disclosure could also result in the 230
release of inaccurate information, which could harm the subject 231
of the examination or investigation, or otherwise impair 232
commerce relating to money services businesses. The Legislature 233
finds that there is little public benefit derived from access to 234
such information during the office's examinations or 235
investigations, and that the exemption is narrowly tailored to 236
allow for release except where the public benefit is outweighed 237
by harm to either the office's investigations or examinations or 238
to individuals whose personal financial information may be 239
disclosed. 240
(3) This section shall take effect on the same date that 241
SB 175 or similar legislation takes effect, if such legislation 242
is adopted in the same legislative session or an extension 243
thereof and becomes a law. 244
Section 4. (1) The Legislature finds all of the 245
following: 246
(a) It is a public necessity that all information 247
concerning an investigation or examination of a money services 248
business conducted by the Office of Financial Regulation 249
pursuant to chapter 560, Florida Statutes, including a consumer 250

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complaint, be made confidential and exempt from s. 119.07(1), 251
Florida Statutes, and s. 24(a), Article I of the State 252
Constitution until the investigation or examination ceases to be 253
active. The Legislature further finds that such information 254
should remain confidential and exempt from s. 119.07(1), Florida 255
Statutes, and s. 24(a), Article I of the State Constitution 256
after the investigation or examination ceases to be active if 257
its disclosure would jeopardize the office's investigations or 258
examinations by revealing techniques or procedures or otherwise 259
reveal information that is being used in another investigation 260
or examinations, or if disclosure would reveal personal 261
financial information or a confidential source. 262
(b) It is a public necessity that trade secrets or 263
personal financial information obtained by the office in the 264
course of an investigation or examination pursuant to chapter 265
560, Florida Statutes, be made confidential and exempt from s. 266
119.07(1), Florida Statutes, and s. 24(a), Article I of the 267
State Constitution, unless an administrative law judge or 268
circuit judge determines that the release of personal financial 269
information to the public is in the interest of justice. 270
(2) Information specified in subsection (1) is held by the 271
office in conjunction with its investigations and examinations 272
of money transmitters, as defined in s. 560.103, Florida 273
Statutes, as amended by chapter 2025-100, Laws of Florida, to 274
include custodians of gold coin or silver coin. Custodians of 275

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gold coin or silver coin are thus subject to investigation or 276
examination by the office. As a result, the office may receive 277
sensitive personal and financial information relating to such 278
entities in conjunction with its duties under chapter 560, 279
Florida Statutes. An exemption from public records requirements 280
provides the same protections to custodians of gold coin or 281
silver coin as are afforded to other money services businesses, 282
thereby preventing any disadvantage to these similarly regulated 283
entities in comparison to other entities currently classified as 284
money services businesses. An exemption from public records 285
requirements for reports of examinations, operations, or 286
condition, including working papers, is necessary to ensure the 287
office's ability to effectively and efficiently administer its 288
examination and investigation duties. Examination and 289
investigation are essential components of financial institutions 290
regulation. They deter fraud and ensure the safety and soundness 291
of the financial system. Examinations also provide a means of 292
early detection of violations, allowing for corrective action to 293
be taken before any harm can be done. Release of such 294
information could compromise the office's investigations and 295
examinations, reveal investigative techniques, or result in the 296
disclosure of an individual's personal financial information. 297
Such disclosure could also result in the release of inaccurate 298
information, which could harm the subject of the examination or 299
investigation, or otherwise impair commerce relating to money 300

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services businesses. The Legislature finds that there is little 301
public benefit derived from access to such information during 302
the office's investigation or examination, and that the 303
exemption is narrowly tailored to allow for release except where 304
the public benefit is outweighed by harm to either the office's 305
investigations or to individuals whose personal financial 306
information may be disclosed. 307
(3) This section shall take effect on the same date that 308
sections 1 through 15 of chapter 2025-100, Laws of Florida, take 309
effect. 310
Section 5. Effective on the same date that sections 1 311
through 15 of chapter 2025-100, Laws of Florida, take effect, 312
subsection (4) is added to section 560.312, Florida Statutes, 313
and subsection (1) of that section is reenacted, to read: 314
560.312 Database of payment instrument transactions; 315
confidentiality.— 316
(1) Payment instrument transaction information held by the 317
office pursuant to s. 560.310 which identifies a licensee, 318
payor, payee, or conductor is confidential and exempt from s. 319
119.07(1) and s. 24(a), Art. I of the State Constitution. 320
(4) Subsection (1) is subject to the Open Government 321
Sunset Review Act in accordance with s. 119.15 and shall stand 322
repealed on October 2, 2031, unless reviewed and saved from 323
repeal through reenactment by the Legislature. 324
Section 6. Effective on the same date that sections 1 325

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through 15 of chapter 2025-100, Laws of Florida, take effect, 326
section 560.4041, Florida Statutes, is amended to read: 327
560.4041 Database for deferred presentment providers; 328
public records exemption.— 329
(1) Information that identifies a drawer or a deferred 330
presentment provider contained in the database authorized under 331
s. 560.404 is confidential and exempt from s. 119.07(1) and s. 332
24(a), Art. I of the State Constitution. A deferred presentment 333
provider may access information that it has entered into the 334
database and may obtain an eligibility determination for a 335
particular drawer based on information in the database. 336
(2) Subsection (1) is subject to the Open Government 337
Sunset Review Act in accordance with s. 119.15 and shall stand 338
repealed on October 2, 2031, unless reviewed and saved from 339
repeal through reenactment by the Legislature. 340
Section 7. (1) The Legislature finds all of the 341
following: 342
(a) That it is a public necessity that payment instrument 343
transaction information held by the office pursuant to s. 344
560.310, Florida Statutes, which identifies a licensee, payor, 345
payee, or conductor be made confidential and exempt from s. 346
119.07(1), Florida Statutes, and s. 24(a), Article I of the 347
State Constitution. 348
(b) That it is a public necessity that deferred 349
presentment transaction information held by the office pursuant 350

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to s. 560.404, Florida Statutes, which identifies a drawer or a 351
deferred presentment provider be made confidential and exempt 352
from s. 119.07(1), Florida Statutes, and s. 24(a), Article I of 353
the State Constitution. 354
(2) Information specified in subsection (1) held by the 355
office in its database of payment instrument transactions 356
pursuant to s. 560.312, Florida Statutes, and deferred 357
presentment transactions pursuant to s. 560.404, Florida 358
Statutes, may include information that identifies money 359
transmitters, as defined in s. 560.103, Florida Statutes, as 360
amended by chapter 2025-100, Laws of Florida, to include 361
custodians of gold coin or silver coin. As a result, the office 362
may receive sensitive personal and financial information 363
relating to custodians of gold coin or silver coin that cash a 364
payment instrument exceeding $1,000 or deferred presentment 365
transactions for a particular person. An exemption from public 366
records requirements for custodians of gold coin and silver coin 367
provides the same protections to custodians of gold coin or 368
silver coin as are afforded to other money services businesses, 369
thereby preventing any disadvantage to these similarly regulated 370
entities in comparison to other entities currently classified as 371
money services businesses. An exemption from public records 372
requirements for payment instrument transactions is necessary to 373
deter money laundering and identity theft and related crimes 374
through such custodians. The availability of this information to 375

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the office will help increase premium collection, lower costs to 376
insurance carriers, and alleviate premium avoidance, as well as 377
reduce the cost of administering these public programs. However, 378
the public availability of payment instrument transaction or 379
deferred presentment transaction information would reveal 380
sensitive, personal financial information about payees and 381
conductors who use check-cashing and deferred presentment 382
programs, including paycheck amounts, salaries, and business 383
activities, as well as information regarding the financial 384
stability of these custodians. Such information is traditionally 385
private and sensitive. Protecting the confidentiality of such 386
information that would identify these payees and custodians 387
would provide adequate protection for these persons while still 388
providing public oversight of the check-cashing and deferred 389
presentment programs. The public release of payment instrument 390
transaction and deferred presentment transaction information 391
would also identify licensees or payors and reveal business 392
transaction information that is traditionally private and could 393
be used by competitors to harm other licensees or payors in the 394
marketplace. If such information were publicly available, 395
competitors could determine the amount of business conducted by 396
other licensees or payors. 397
(3) This section shall take effect on the same date that 398
sections 1 through 15 of chapter 2025-100, Laws of Florida, take 399
effect. 400

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Section 8. Effective on the same date that HB 175 or 401
similar legislation takes effect, if such legislation is adopted 402
in the same legislative session or an extension thereof and 403
becomes a law, or sections 1 through 15 of chapter 2025-100, 404
Laws of Florida, take effect, subsection (15) is added to 405
section 655.057, Florida Statutes, and subsections (1) through 406
(4), (6), and (10) of that section are reenacted, to read: 407
655.057 Records; limited restrictions upon public access.— 408
(1) Except as otherwise provided in this section and 409
except for such portions thereof which are otherwise public 410
record, all records and information relating to an investigation 411
by the office are confidential and exempt from s. 119.07(1) and 412
s. 24(a), Art. I of the State Constitution until such 413
investigation is completed or ceases to be active. For purposes 414
of this subsection, an investigation is considered "active" 415
while such investigation is being conducted by the office with a 416
reasonable, good faith belief that it may lead to the filing of 417
administrative, civil, or criminal proceedings. An investigation 418
does not cease to be active if the office is proceeding with 419
reasonable dispatch, and there is a good faith belief that 420
action may be initiated by the office or other administrative or 421
law enforcement agency. After an investigation is completed or 422
ceases to be active, portions of the records relating to the 423
investigation are confidential and exempt from s. 119.07(1) and 424
s. 24(a), Art. I of the State Constitution to the extent that 425

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disclosure would: 426
(a) Jeopardize the integrity of another active 427
investigation; 428
(b) Impair the safety and soundness of the financial 429
institution; 430
(c) Reveal personal financial information; 431
(d) Reveal the identity of a confidential source; 432
(e) Defame or cause unwarranted damage to the good name or 433
reputation of an individual or jeopardize the safety of an 434
individual; or 435
(f) Reveal investigative techniques or procedures. 436
(2) Except as otherwise provided in this section and 437
except for such portions thereof which are public record, 438
reports of examinations, operations, or condition, including 439
working papers, or portions thereof, prepared by, or for the use 440
of, the office or any state or federal agency responsible for 441
the regulation or supervision of financial institutions in this 442
state are confidential and exempt from s. 119.07(1) and s. 443
24(a), Art. I of the State Constitution. However, such reports 444
or papers or portions thereof may be released to: 445
(a) The financial institution under examination; 446
(b) Any holding company of which the financial institution 447
is a subsidiary; 448
(c) Proposed purchasers if necessary to protect the 449
continued financial viability of the financial institution, upon 450

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prior approval by the board of directors of such institution; 451
(d) Persons proposing in good faith to acquire a 452
controlling interest in or to merge with the financial 453
institution, upon prior approval by the board of directors of 454
such financial institution; 455
(e) Any officer, director, committee member, employee, 456
attorney, auditor, or independent auditor officially connected 457
with the financial institution, holding company, proposed 458
purchaser, or person seeking to acquire a controlling interest 459
in or merge with the financial institution; or 460
(f) A fidelity insurance company, upon approval of the 461
financial institution's board of directors. However, a fidelity 462
insurance company may receive only that portion of an 463
examination report relating to a claim or investigation being 464
conducted by such fidelity insurance company. 465
(g) Examination, operation, or condition reports of a 466
financial institution shall be released by the office within 1 467
year after the appointment of a liquidator, receiver, or 468
conservator to the financial institution. However, any portion 469
of such reports which discloses the identities of depositors, 470
bondholders, members, borrowers, or stockholders, other than 471
directors, officers, or controlling stockholders of the 472
institution, shall remain confidential and exempt from s. 473
119.07(1) and s. 24(a), Art. I of the State Constitution. 474
475

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Any confidential information or records obtained from the office 476
pursuant to this subsection shall be maintained as confidential 477
and exempt from s. 119.07(1) and s. 24(a), Art. I of the State 478
Constitution. 479
(3) Except as otherwise provided in this section and 480
except for those portions that are otherwise public record, 481
after an investigation relating to an informal enforcement 482
action is completed or ceases to be active, informal enforcement 483
actions are confidential and exempt from s. 119.07(1) and s. 484
24(a), Art. I of the State Constitution to the extent that 485
disclosure would: 486
(a) Jeopardize the integrity of another active 487
investigation. 488
(b) Impair the safety and soundness of the financial 489
institution. 490
(c) Reveal personal financial information. 491
(d) Reveal the identity of a confidential source. 492
(e) Defame or cause unwarranted damage to the good name or 493
reputation of an individual or jeopardize the safety of an 494
individual. 495
(f) Reveal investigative techniques or procedures. 496
(4) Except as otherwise provided in this section and 497
except for those portions that are otherwise public record, 498
trade secrets as defined in s. 688.002 which comply with s. 499
655.0591 and which are held by the office in accordance with its 500

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statutory duties with respect to the financial institutions 501
codes are confidential and exempt from s. 119.07(1) and s. 502
24(a), Art. I of the State Constitution. 503
(6) This section does not prevent or restrict: 504
(a) Publishing reports that are required to be submitted 505
to the office pursuant to s. 655.045(2) or required by 506
applicable federal statutes or regulations to be published. 507
(b) Furnishing records or information to any other state, 508
federal, or foreign agency responsible for the regulation or 509
supervision of financial institutions. 510
(c) Disclosing or publishing summaries of the condition of 511
financial institutions and general economic and similar 512
statistics and data, provided that the identity of a particular 513
financial institution is not disclosed. 514
(d) Reporting any suspected criminal activity, with 515
supporting documents and information, to appropriate law 516
enforcement and prosecutorial agencies. 517
(e) Furnishing information upon request to the Chief 518
Financial Officer or the Division of Treasury of the Department 519
of Financial Services regarding the financial condition of any 520
financial institution that is, or has applied to be, designated 521
as a qualified public depository pursuant to chapter 280. 522
(f) Furnishing information to Federal Home Loan Banks 523
regarding its member institutions pursuant to an information 524
sharing agreement between the Federal Home Loan Banks and the 525

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office. 526
527
Any confidential information or records obtained from the office 528
pursuant to this subsection shall be maintained as confidential 529
and exempt from s. 119.07(1) and s. 24(a), Art. I of the State 530
Constitution. 531
(10) Materials supplied to the office or to employees of 532
any financial institution by other state or federal governmental 533
agencies remain the property of the submitting agency or the 534
corporation, and any document request must be made to the 535
appropriate agency. Any confidential documents supplied to the 536
office or to employees of any financial institution by other 537
state or federal governmental agencies are confidential and 538
exempt from s. 119.07(1) and s. 24(a), Art. I of the State 539
Constitution. Such information shall be made public only with 540
the consent of such agency or the corporation. 541
(15) Subsections (1)-(4), (6), and (10) are subject to the 542
Open Government Sunset Review Act in accordance with s. 119.15 543
and are repealed October 2, 2031, unless reviewed and saved from 544
repeal through reenactment by the Legislature. 545
Section 9. (1) The Legislature finds that it is a public 546
necessity that all records and information relating to an 547
investigation by the Office of Financial Regulation undertaken 548
pursuant to chapter 655, Florida Statutes, be made confidential 549
and exempt from s. 119.07(1), Florida Statutes, and s. 24(a), 550

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Article I of the State Constitution until the investigation 551
ceases to be active. The Legislature further finds that such 552
information should remain confidential and exempt from s. 553
119.07(1), Florida Statutes, and s. 24(a), Article I of the 554
State Constitution after the investigation ceases to be active 555
if its disclosure would jeopardize the office's investigations 556
by revealing techniques or procedures, or otherwise reveal 557
information that is being used in another investigation; reveal 558
personal financial information or a confidential source; or 559
defame or cause unwarranted damage to an individual's reputation 560
or jeopardize his or her safety. 561
(2) Information specified in s. 655.057(1)-(4), (6), and 562
(10), Florida Statutes, is held by the office in conjunction 563
with examinations and investigations of trust companies which 564
may include records concerning payment stablecoin issuer 565
products or services offered by such trust companies, as 566
authorized in s. 658.997, Florida Statutes. As a result, the 567
office may receive sensitive personal and financial information 568
relating to such trust companies in conjunction with its duties 569
under chapter 655, Florida Statutes. An exemption from public 570
records requirements provides the same protections to trust 571
companies that are qualified payment stablecoin issuers as are 572
afforded to other financial institutions, thereby preventing any 573
disadvantage to these similarly regulated entities in comparison 574
to other entities currently classified as financial 575

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institutions. An exemption from public records requirements for 576
reports of examinations, operations, or condition, including 577
working papers, is necessary to ensure the office's ability to 578
effectively and efficiently administer its examination and 579
investigation duties. Examination and investigation are 580
essential components of financial institutions regulation. They 581
deter fraud and ensure the safety and soundness of the financial 582
system. Examinations and investigations also provide a means of 583
early detection of violations, allowing for corrective action to 584
be taken before any harm can be done. 585
(3) The Legislature finds that it is a public necessity to 586
make confidential and exempt from s. 119.07(1), Florida 587
Statutes, and s. 24(a), Article I of the State Constitution 588
records and information relating to an examination or 589
investigation by the Office of Financial Regulation; portions of 590
records relating to a completed or inactive examination or 591
investigation by the office which would jeopardize the integrity 592
of another active examination or investigation, impair the 593
safety and soundness of the financial institution, reveal 594
personal financial information, reveal the identity of a 595
confidential source, defame or cause unwarranted damage to the 596
good name or reputation of an individual or jeopardize the 597
safety of an individual, or reveal investigative techniques or 598
procedures; reports of examinations, operations, or conditions, 599
including working papers, or portions thereof, prepared by, or 600

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for the use of, the office or any state or federal agency 601
responsible for the regulation or supervision of financial 602
institutions in this state, until 1 year after the appointment 603
of a liquidator; any portion of such reports which discloses the 604
identities of depositors, bondholders, members, borrowers, or 605
stockholders, other than directors, officers, or controlling 606
stockholders of the institution; trade secrets held by the 607
office in accordance with its statutory duties under chapter 608
655, Florida Statutes, unless an administrative law judge or 609
circuit judge determines that the release of personal financial 610
information to the public is in the interest of justice; and 611
materials supplied to the office or to employees of any 612
financial institution by other state or federal governmental 613
agencies. 614
(4) Release of information specified in s. 655.057(1)-(4), 615
(6), and (10), Florida Statutes, could compromise the office's 616
examinations and investigations, reveal investigative 617
techniques, result in the disclosure of an individual's personal 618
financial information, or defame or cause unwarranted damage to 619
the good name or reputation of an individual or entity or 620
jeopardize his or her safety. Such disclosure could also result 621
in the spread of inaccurate information, which could harm the 622
subject of the examination or investigation, or otherwise impair 623
commerce conducted by financial institutions in this state. Any 624
portion of a record or information relating to an examination or 625

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investigation which reveals personal financial information or 626
the identity of a confidential source may defame, or cause 627
unwarranted damage to the good name or reputation of, those 628
individuals, or jeopardize their safety. 629
(5) A trade secret derives independent economic value, 630
actual or potential, from not being generally known to, and not 631
readily ascertainable by, other persons who can obtain economic 632
value from the disclosure or use of the trade secret. Without an 633
exemption for a trade secret held by the office in accordance 634
with its duties prescribed by chapter 655, Florida Statutes, 635
that trade secret becomes a public record when received and must 636
be divulged upon request. Divulging a trade secret under the 637
public records law would give business competitors an unfair 638
advantage and destroy the value of that property, causing a 639
financial loss to the person or entity submitting the trade 640
secret and weakening the position of that person or entity in 641
the marketplace. 642
(6) The Legislature finds that there is little public 643
benefit derived from access to such information during the 644
office's examinations or investigations, and that the exemption 645
is narrowly tailored to allow for release except where the 646
public benefit is outweighed by harm to individuals or 647
institutions, when the disclosure would jeopardize other 648
examinations or investigations, reveal the office's 649
investigative techniques or procedures, or expose personal 650

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financial information or a confidential source. 651
(7) This section shall take effect on the same date that 652
HB 175 or similar legislation takes effect, if such legislation 653
is adopted in the same legislative session or an extension 654
thereof and becomes a law. 655
Section 10. (1) The Legislature finds that it is a public 656
necessity that all records and information relating to an 657
investigation by the Office of Financial Regulation undertaken 658
pursuant to chapter 655, Florida Statutes, be made confidential 659
and exempt from s. 119.07(1), Florida Statutes, and s. 24(a), 660
Article I of the State Constitution until the investigation 661
ceases to be active. The Legislature further finds that such 662
information should remain confidential and exempt from s. 663
119.07(1), Florida Statutes, and s. 24(a), Article I of the 664
State Constitution after the investigation ceases to be active 665
if its disclosure would jeopardize the office's investigations 666
by revealing techniques or procedures, or otherwise reveal 667
information that is being used in another investigation; reveal 668
personal financial information or a confidential source; or 669
defame or cause unwarranted damage to an individual's reputation 670
or jeopardize his or her safety. 671
(2) Information specified in s. 655.057(1)-(4), (6), and 672
(10) is held by the office in conjunction with investigations of 673
financial institutions which may include records concerning gold 674
coin or silver coin products or services offered by such 675

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institutions, as authorized in s. 215.986(2)(e), Florida 676
Statutes, enacted in chapter 2025-100, Laws of Florida. As a 677
result, the office may receive sensitive personal and financial 678
information relating to such institutions in conjunction with 679
its duties under chapter 655, Florida Statutes. An exemption 680
from public records requirements provides the same protections 681
to custodians of gold coin or silver coin as are afforded to 682
other financial institutions, thereby preventing any 683
disadvantage to these similarly regulated entities in comparison 684
to other entities currently classified as financial 685
institutions. An exemption from public records requirements for 686
reports of examinations, operations, or condition, including 687
working papers, is necessary to ensure the office's ability to 688
effectively and efficiently administer its examination and 689
investigation duties. Examination and investigation are 690
essential components of financial institutions regulation. They 691
deter fraud and ensure the safety and soundness of the financial 692
system. Examinations also provide a means of early detection of 693
violations, allowing for corrective action to be taken before 694
any harm can be done. 695
(3) The Legislature finds that it is a public necessity to 696
make confidential and exempt from s. 119.07(1), Florida 697
Statutes, and s. 24(a), Article I of the State Constitution 698
records and information relating to an investigation by the 699
Office of Financial Regulation; portions of records relating to 700

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a completed or inactive investigation by the office which would 701
jeopardize the integrity of another active investigation, impair 702
the safety and soundness of the financial institution, reveal 703
personal financial information, reveal the identity of a 704
confidential source, defame or cause unwarranted damage to the 705
good name or reputation of an individual or jeopardize the 706
safety of an individual, or reveal investigative techniques or 707
procedures; reports of examinations, operations, or condition, 708
including working papers, or portions thereof, prepared by, or 709
for the use of, the office or any state or federal agency 710
responsible for the regulation or supervision of financial 711
institutions in this state, until 1 year after the appointment 712
of a liquidator; any portion of such reports which discloses the 713
identities of depositors, bondholders, members, borrowers, or 714
stockholders, other than directors, officers, or controlling 715
stockholders of the institution; trade secrets held by the 716
office in accordance with its statutory duties under chapter 717
655, Florida Statutes, unless an administrative law judge or 718
circuit judge determines that the release of personal financial 719
information to the public is in the interest of justice; and 720
materials supplied to the office or to employees of any 721
financial institution by other state or federal governmental 722
agencies. 723
(4) Release of information specified in s. 655.057(1)-(4), 724
(6), and (10) could compromise the office's investigations and 725

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examinations, reveal investigative techniques, result in the 726
disclosure of an individual's personal financial information, or 727
defame or cause unwarranted damage to the good name or 728
reputation of an individual or entity or jeopardize his or her 729
safety. Such disclosure could also result in the spread of 730
inaccurate information, which could harm the subject of the 731
examination or investigation, or otherwise impair commerce 732
conducted by financial institutions in this state. Any portion 733
of a record or information relating to an investigation or 734
examination which reveals personal financial information or the 735
identity of a confidential source may defame, or cause 736
unwarranted damage to the good name or reputation of, those 737
individuals, or jeopardize their safety. 738
(5) A trade secret derives independent economic value, 739
actual or potential, from not being generally known to, and not 740
readily ascertainable by, other persons who can obtain economic 741
value from the disclosure or use of the trade secret. Without an 742
exemption for a trade secret held by the office in accordance 743
with its duties prescribed by chapter 655, Florida Statutes, 744
that trade secret becomes a public record when received and must 745
be divulged upon request. Divulging a trade secret under the 746
public records law would give business competitors an unfair 747
advantage and destroy the value of that property, causing a 748
financial loss to the person or entity submitting the trade 749
secret and weakening the position of that person or entity in 750

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the marketplace. 751
(6) The Legislature finds that there is little public 752
benefit derived from access to such information during the 753
office's investigation, and that the exemption is narrowly 754
tailored to allow for release except when the public benefit is 755
outweighed by harm to individuals or institutions, when the 756
disclosure would jeopardize other investigations, reveal the 757
office's investigative techniques or procedures, or expose 758
personal financial information or a confidential source. 759
(7) This section shall take effect on the same date that 760
sections 1 through 15 of chapter 2025-100, Laws of Florida, take 761
effect. 762
Section 11. Effective on the same date that HB 175 or 763
similar legislation takes effect, if such legislation is adopted 764
in the same legislative session or an extension thereof and 765
becomes a law, or sections 1 through 15 of chapter 2025-100, 766
Laws of Florida, take effect, subsection (7) of section 655.50, 767
Florida Statutes, is amended, and paragraph (d) of subsection 768
(5) of this section is reenacted, to read: 769
655.50 Florida Control of Money Laundering and Terrorist 770
Financing in Financial Institutions Act.— 771
(5) A financial institution shall keep a record of each 772
financial transaction occurring in this state known to it which 773
involves currency or other monetary instrument, as the 774
commission prescribes by rule, has a value greater than $10,000, 775

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and involves the proceeds of specified unlawful activity, or is 776
designed to evade the reporting requirements of this section, 777
chapter 896, or similar state or federal law, or which the 778
financial institution reasonably believes is suspicious 779
activity. Each financial institution shall maintain appropriate 780
procedures to ensure compliance with this section, chapter 896, 781
and other similar state or federal law. Any report of suspicious 782
activity made pursuant to this subsection is entitled to the 783
same confidentiality provided under 31 C.F.R. s. 1020.320, 784
whether the report or information pertaining to or identifying 785
the report is in the possession or control of the office or the 786
reporting institution. 787
(d) Each financial institution shall file a report of the 788
records required under this subsection with the office. Each 789
report shall be filed at such time and must contain such 790
information as the commission requires by rule. 791
(7) All reports and records filed with the office pursuant 792
to this section are confidential and exempt from s. 119.07(1) 793
and s. 24(a), Art. I of the State Constitution. However, the 794
office shall provide any report filed pursuant to this section, 795
or information contained therein, to federal, state, and local 796
law enforcement and prosecutorial agencies, and any federal or 797
state agency responsible for the regulation or supervision of 798
financial institutions. 799
Section 12. (1) The Legislature finds that it is a public 800

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necessity that all reports and records filed with the Office of 801
Financial Regulation be made confidential and exempt from s. 802
119.07(1), Florida Statutes, and s. 24(a), Article I of the 803
State Constitution unless disclosure is requested by a federal, 804
state, or local law enforcement or prosecutorial agency or any 805
federal or state agency responsible for the regulation or 806
supervision of financial institutions. Information regarding 807
potential money laundering or terrorism must be safeguarded to 808
prevent the potential offender from being tipped off or 809
circumventing an investigation conducted by the office, and 810
disclosure of such information could harm the office's 811
investigations. 812
(2) These reports and records are held by the office in 813
conjunction with its duties pursuant to 31 U.S.C. s. 5313 and 31 814
C.F.R. part 1020 and its examinations or investigations of trust 815
companies' transactions involving monetary instruments 816
concerning payment stablecoin products or services offered by 817
such companies, as authorized in s. 658.997, Florida Statutes, 818
to include any transactions involving payment stablecoin 819
products or services offered by such financial institutions. As 820
a result, the office may receive sensitive personal and 821
financial information relating to such entities in conjunction 822
with its duties under chapter 655, Florida Statutes. An 823
exemption from public records requirements provides the same 824
protections to trust companies that hold a certificate of 825

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approval as a qualified payment stablecoin issuer as are 826
afforded to other financial institutions, thereby preventing any 827
disadvantage to these similarly regulated entities in comparison 828
to other entities currently classified as financial 829
institutions. An exemption from public records requirements for 830
reports and records submitted to the office is necessary to 831
ensure the office's ability to effectively and efficiently 832
administer its investigation duties. Examination and 833
investigation are essential components of financial institutions 834
regulation. They deter fraud and ensure the safety and soundness 835
of the financial system. Examinations and investigations also 836
provide a means of early detection of violations, allowing for 837
corrective action to be taken before any harm can be done. 838
(3) This section shall take effect on the same date that 839
HB 175 or similar legislation takes effect, if such legislation 840
is adopted in the same legislative session or an extension 841
thereof and becomes a law. 842
Section 13. (1) The Legislature finds that it is a public 843
necessity that all reports and records filed with the Office of 844
Financial Regulation be made confidential and exempt from s. 845
119.07(1), Florida Statutes, and s. 24(a), Article I of the 846
State Constitution unless disclosure is requested by a federal, 847
state, or local law enforcement or prosecutorial agency or any 848
federal or state agency responsible for the regulation or 849
supervision of financial institutions. Information regarding 850

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potential money laundering or terrorism must be safeguarded to 851
prevent the potential offender from being tipped off or 852
circumventing an investigation conducted by the office, and 853
disclosure of such information could harm the office's 854
investigations. 855
(2) These reports and records are held by the office in 856
conjunction with its duties pursuant to 31 U.S.C. s. 5313 and 31 857
C.F.R. part 1020 and its investigations of financial 858
institutions' transactions involving monetary instruments 859
concerning gold coin or silver coin products or services offered 860
by such institutions, as authorized in s. 215.986(2)(e), Florida 861
Statutes, enacted in chapter 2025-100, Laws of Florida, to 862
include any transactions involving gold coin or silver coin 863
products or services offered by such financial institutions. As 864
a result, the office may receive sensitive personal and 865
financial information relating to such entities in conjunction 866
with its duties under chapter 655, Florida Statutes. An 867
exemption from public records requirements provides the same 868
protections to custodians of gold coin or silver coin as are 869
afforded to other financial institutions, thereby preventing any 870
disadvantage to these similarly regulated entities in comparison 871
to other entities currently classified as financial 872
institutions. An exemption from public records requirements for 873
reports and records submitted to the office is necessary to 874
ensure the office's ability to effectively and efficiently 875

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administer its investigation duties. Examination and 876
investigation are essential components of financial institutions 877
regulation. They deter fraud and ensure the safety and soundness 878
of the financial system. Examinations also provide a means of 879
early detection of violations, allowing for corrective action to 880
be taken before any harm can be done. 881
(3) This section shall take effect on the same date that 882
sections 1 through 15 of chapter 2025-100, Laws of Florida, take 883
effect. 884
Section 14. Except as otherwise expressly provided in this 885
act, this act shall take effect upon becoming a law. 886