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Florida Cabinet Appoints Tom Cardwell as New Office of Financial Regulation Commissioner

8/11/2009

FOR IMMEDIATE RELEASE: August 11, 2009
Contact: Kyra Jennings or Kevin Cate, (850) 413-2842
 
FLORIDA CABINET APPOINTS TOM CARDWELL AS NEW OFFICE OF FINANCIAL REGULATION COMMISSIONER
 
TALLAHASSEE – The Financial Services Commission, comprised of the governor and Cabinet members, today appointed J. Thomas Cardwell as the new Commissioner of the Florida Office of Financial Regulation (OFR). Tom Cardwell has been a leading voice in preserving the integrity of the Financial Services industry in Florida for nearly three decades. His appointment was approved unanimously at today’s Cabinet meeting.
 
“I have every expectation that Tom Cardwell will bring a strong enforcement mentality and responsible approach to the Office of Financial Regulation,” said CFO Sink. “His experience will help him lead OFR with the integrity and dedication Floridians deserve in these challenging economic times.”
 
Tom Cardwell has served as General Counsel of the Florida Bankers Association for 25 years, and, in this capacity, has participated in crafting many of the laws regulating all types of financial institutions in Florida. In March of 2009, the Chief Justice of the Florida Supreme Court appointed Mr. Cardwell to its Mortgage Foreclosure Task Force, engaged in making recommendations about court dealings with the mortgage foreclosure crisis in Florida.
 
Cardwell served as the Chair of the Financial Institutions practice at Akerman Senterfitt, one of the largest law firms in Florida, and has been a member of the American Bar Association Banking Law Committee since 1983. He has represented financial institutions in state and federal courts and before the Supreme Court of the United States as well as before administrative agencies in Florida. Cardwell has also represented individuals and organizations in securities litigation and in regulatory matters before state and federal courts and regulatory agencies.   Cardwell graduated from Duke University and the University of Florida College of Law with honors.
 
Legislation from 2002 placed the regulation of banking, securities and insurance under two appointed officials who are selected by the Financial Services Commission. The commission, which is comprised of the governor and Cabinet, appoints the Commissioner of the Office of Financial Regulation and the Commissioner of the Office of Insurance Regulation. Both offices are administratively housed in the Department of Financial Services but report directly to the governor and Cabinet. 
 
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