A security is a financial asset that can be bought and sold—including stocks, bonds, debentures, municipal securities, futures, and options—and a securities transaction involves the purchase, sale, redemption, or other transfer of a security.
In Florida, securities are regulated under the Florida Securities and Investor Protection Act (Chapter 517 of the Florida Statutes). This act defines securities broadly to include stocks, bonds, debentures, municipal securities, futures, options, and other investment instruments. The act requires the registration of securities offerings, broker-dealers, investment advisors, and their representatives, unless an exemption applies. The Florida Office of Financial Regulation (OFR) is the state agency responsible for the enforcement of securities laws, and it oversees the conduct of individuals and firms that sell securities, provide investment advice, or otherwise engage in securities transactions. The OFR ensures compliance with state regulations, investigates securities fraud, and provides investor education. Additionally, securities transactions in Florida are also subject to federal laws and regulations enforced by the Securities and Exchange Commission (SEC), which include requirements for registration, disclosure, and conduct in the securities markets.