State RegulationsFL specificDifficulty 1/5
The Office of Financial Regulation (OFR), under the Financial Services Commission, regulates which entities?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
Under Florida's Financial Services Commission structure, the Office of Financial Regulation supervises state-chartered financial institutions - banks, credit unions, securities dealers, and finance companies. Insurance companies fall to the Office of Insurance Regulation, and agents and adjusters are licensed by the Department of Financial Services, so the OFR never regulates insurance producers.
Why the other options are wrong
- A) Insurers are regulated by the Office of Insurance Regulation, a sister agency under the Financial Services Commission.
- B) Agent and adjuster licensing belongs to the Department of Financial Services, not the OFR.
- D) The guaranty association is created by Chapter 631 to protect policyholders of insolvent insurers; the OFR does not regulate it.
Memory hook
OFR = banks and securities; never insurance.