After concluding Breakfast with Representative Boyd, the packed day continued – with the group moving from office to office meeting legislators and staff from both political parties, discussing a number of issues important to the industry. One such issue was the ongoing effort to address vulnerable adult exploitation by giving the industry more tools to combat the fraud. We discussed this issue with each legislator, and each offered their own advice, but all seemed positive of the concepts contained in the draft legislation. In addition, we discussed financial literacy, taxes, and potential trial lawyer attacks. Each legislator expressed their support for our initiatives and offered to help curtail attempts to harm the industry moving forward.
Overall, the group met with 6 legislators and extended an invitation to each of them to participate in the FSDA’s ongoing educational outreach efforts. Legislators were House Majority Leader Dana Young (R-Tampa), State Senator Chris Smith (D-Broward), incoming Senate Minority Leader Oscar Braynon (D-Miami), State Representative Rick Starke (D-Weston), and State Representative Dwight Dudley (D-St Petersburg).
After these legislative meetings, the group met with OFR Deputy Commissioner Pam Epting, Acting Director for the Division of Securities Alisa Goldberg, OFR Legislative Director Meredith Hinselwood, and OFR Communications Director Jamie Mongiovi. A number of issues were discussed with the OFR including the need for legislation similar to the NASAA model on vulnerable adults, social media privacy legislation, financial literacy legislation, and existing vulnerable adult legislation that could be amended to impact the industry. The meeting was productive, and resulted in the FSDA having an additional assignment to continue drafting the legislation to accommodate the concerns raised by the OFR.
It was an effective and efficient day in Tallahassee, and the work will continue into the 2016 Legislative Session.