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CFO Jimmy Patronis Statement on FinTech Rule Implementation and Supporting Innovation in Florida

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 FinTech Rule Implementation and Supporting Innovation in Florida

TALLAHASSEE, Fla. – Today, Chief Financial Officer (CFO) Jimmy Patronis issued a statement following the meeting of the Governor and Cabinet where a rule from the Office of Financial Regulation was approved implementing provisions of HB 1391. The legislation, among other items, creates a Financial Technology sandbox within the Office of Financial Regulation for facilitating technological innovation.

CFO Jimmy Patronis said, “By finalizing this rule, Florida is ready to fully implement the FinTech sandbox, which comes at a crucial time when businesses in California are looking elsewhere to grow and innovate. Florida now has a new tool to attract the jobs and industries of the future to our communities. FinTech’s opportunities for Florida are limitless and the more we can do to create a regulatory environment that allows businesses to innovate and test new technologies, the more effective we’ll be at attracting technology jobs and investment to Florida communities. As someone who’s run a small business, I know just how beneficial it is to our economy, workforce, and communities to attract high paying, technology-focused jobs to Florida. Thank you to the bill sponsors, Senator Travis Hutson and Florida’s Chief Information Officer Jamie Grant for their hard work and support to getting this bill to the finish line.”

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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).