Florida/Georgia Personal Injury & Workers Compensation

...cts relevant to their investment decisions. 3 . At the time that Jones executed the Telron subscription agreements, Childers and TSI were not registered as “dealers” with the Florida Department of Bank and Finance ("Department”). See Fla.Stat. § 517.12(1). Nor were Defendants registered in Florida as "investment advisers.” See Fla.Stat. § 517.021(10)(a) and § 517.12(4)....

...o supervise. In addition, the Browns alleged that for three of the four years Brashears had served as their account executive, Brashears had not been registered with the Florida Department of Banking and Finance to sell securities. See Fla.Stat.Ann. § 517.12 (West Supp.1993)....

...In this suit by a customer against a securities broker, the district court upheld the decision of an arbitration panel that Sam Skurnick, the securities broker, was negligent in ■ handling the account of his customer, A1 Ainsworth. Since this violated Fla.Stat. ch. 517.12, however, the district court awarded Ainsworth damages under the mandatory damages provision of Fla. Stat. ch. 517.211, which the arbitration panel failed to do. The district court properly applied Florida law in finding that the violation of Fla.Stat. ch. 517.12 automatically triggers a damage award under Fla.Stat....

...On the first appeal to the district court of the arbitration award which denied a damage claim, the district court sent it back to the arbitration panel, stating that the decision was vague, cursory, and without adequate explanation of how the conclusion was reached in light of Fla.Stat. ch. 517.12 and the mandatory damages provision of Fla.Stat....

...San Antonio Newspaper Guild Local 25 v. San Antonio Light Div., 481 F.2d 821, 824-825 (5th Cir.1973) (proper to remand for interpretation an ambiguous arbitration award). After being instructed by the district court that statutory damages are mandatory when one violates Fla.Stat. ch. 517.12, the arbitration panel’s second award stated: [Hjaving now considered all evidence respecting each and every claim submitted for arbitral determination in connection with the Respondent’s position as the Claimant’s broker/dealer, we find...

...rect in its instructions to the arbitration panel. Skurnick v. Ainsworth, 591 So.2d 904 (Fla.1991). The Court said that The issue in this case is whether a securities broker in Connecticut and New York is making a sale of securities in Florida under section 517.12, Florida Statutes (1989), when he or she receives an order or check by mail from a Florida resident and acts on that request by purchasing stock or mutual funds in New York. We agree with the United States District Court and find that the language in section 517.12 which states ‘sell[s] securities in this state to persons of this state from offices outside this state, by mail or otherwise,’ expresses a clear intent to cover this type of transaction. Id. at 904, 906 . So we now know that Skurnick violated chapter 517.12 and that Ainsworth is entitled to mandatory damages under chapter 517.211....

...aimant is not entitled to recover” damages. This is a non-sequitur for which there is no basis. The arbitrators did not reflect any disagreement with the district court’s statement of the law. Even if there was a dispute as to the application of section 517.12 to the undisputed facts of this case, there is none now, since the Florida Supreme Court certification....

...[24] Upon review of this matter, it is clear that the scope of the argument herein exceeds the four corners of the contract. As such, this matter is more properly resolved via summary judgment, rather than a Motion to Dismiss. [25] Motion for More Definite Statement as to Alleged Violations of Florida Statute Section 517.12 in Count VII Count VII of the Defendants' Counterclaim broadly alleges that unregistered employees of First Union executed transactions initiated by the Defendants from August 1987 through October 1987....

...Boedy v. Department of Professional Regulation, 463 So.2d 215 (Fla. 1985). [4] In this case, the Department was required to determine whether the respondents had demonstrated worthiness to transact business in Florida before approving their application. § 517.12(11), Fla.Stat....

...778, 10 So.2d 436 (1942). [2] Various criminal statutes have been upheld constitutionally and interpreted to not require intent as an element. See, e.g., State v. Houghtaling, 181 So.2d 636 (Fla. 1965) (section 517.07 prohibiting the sale of unregistered securities and section 517.12 prohibiting selling securities without being registered as a dealer or salesman); Simmons v....

...every case, the amount of any income from said securities that may have been received by such purchaser. (2) Any person having a right of action against a dealer or salesman under this section shall have a right of action under the bond provided in § 517.12." [5] In Moerman v....

...Palmer (Palmer), and Luther E. Young, Marlene W. Young, and Young Packaging Products, Inc. (Young), appeal adverse summary final judgments entered in their separate actions against Shearson Lehman Hutton, Inc. (Hutton), a securities dealer registered in Florida under section 517.12, Florida Statutes....

...Appellants' respective causes of action were based on Hutton's alleged negligence in failing to report to the Department of Banking and Finance (the Department) that David Kury, a Hutton employee registered in Florida as an associated person pursuant to section 517.12, Florida Statutes, had defrauded several clients while representing Hutton and that these wrongful acts had caused Hutton to terminate Kury's employment....

...e "Florida Securities Act." This act regulates the sale of securities in Florida and requires that dealers [1] and associated persons [2] be registered with the Department prior to selling or offering to sell securities to any persons in this state. § 517.12, Fla....

...er, whether voluntarily or involuntarily, the dealer must notify the Department of that person's termination and the reason therefor; and to become associated with another dealer, the terminated associated person must reregister with the Department. § 517.12, Fla....

...alleged negligent conduct. [8] The trial court erred, however, in ruling that Hutton did not owe Appellants any legal duty of care arising out of applicable statutes in respect to the alleged negligent conduct. When read in pari materia, subsections 517.12(11)(b) [9] and 517.301(3), Florida Statutes (1983), and rule 3E-600.08, Florida Administrative Code, which was promulgated pursuant to the legislature's directive in subsection 517.12(11)(b), impose legal duties on Hutton that will support a cause of action for negligence under the circumstances shown in this case. Subsection 517.12(11)(b) provides: Every dealer shall promptly file with the [Department of Banking and Finance], as prescribed by rules adopted by the department, notice as to the termination of employment of any associated person registered for such d...

...Hutton knowingly and willfully filed with the Department false information concerning the reason for Kury's termination, in violation of the legal obligations intended to protect investors from such conduct that were imposed on Hutton by subsections 517.12(11)(b) and 517.301(3), and rule 3E-600.08....

...1981) (The Securities Act is not intended as protection for those shown able to fend for themselves; rather, the purpose is to protect the public from fraudulent and deceptive practices in the sale and marketing of securities.). [11] The reporting provisions found in subsection 517.12(11)(b) and the prohibition of filing false reports with the Department found in subsection 517.301(3) are designed to enable the Department to timely obtain truthful information about the conduct of persons registered to sell securitie...

...988 (Fla. 1914); deJesus v. Seaboard Coast Line R.R. Co., 281 So.2d 198 (Fla. 1973). See also Trianon Park Condominium Ass'n, Inc. v. City of Hialeah, 468 So.2d 912, 925 (Fla. 1985) (Ehrlich, J., dissenting). [9] This provision is now located in subsection 517.12(12)(b), Florida Statutes (1991)....

...1 & 1268. B. Count VI In Count VI, Plaintiffs allege that all Defendants violated provisions of the Florida Blue Sky Securities and Investor Protection Act. See Plaintiffs' Compl. (Doc. 1) ¶¶ 113-19, at 24-25. Plaintiffs allege that Defendants violated section 517.12, Florida Statutes, which prohibits any person from selling or offering to sell securities in or from offices in this state, or from selling securities to Florida residents from outside the state, by mail or otherwise, unless the person...

...trative hearing on the agency's denial of his application for securities industry registration. We reverse. In March 1985, Symons filed with the Department of Banking and Finance an application for registration as an "associated person," pursuant to Section 517.12, Florida Statutes (1985)....

...Motion for Summary Judgment on Amended Counterclaim The Milos' filed an Amended Counterclaim asserting therein claims for: violation of Fla.Stat. § 517.301 (Count I); common law fraud (Count II); breach of fiduciary duty (Count III); negligence (Count IV); breach of contract (Count V); and violation of Fla.Stat. § 517.12 (Count VI)....

...in and Option agreements. In the absence of any such provision in the agreements, both the merger doctrine and parol evidence rule preclude the Milos' from arguing that any such provision was part of the parties' agreement. 6. Violation of Fla.Stat. § 517.12 — Count VI In Count VI of their Amended Counterclaim, the Milos' seek to rescind certain unidentified transactions pursuant to Fla.Stat. § 517.12. The Milos' allege that Gerry Daras, a wire operator with First Union, entered sales for the Milos' account in violation of this section. The remedies for violation of Section 517.12 are set forth in Fla.Stat. § 517.211 which authorizes rescission only if the purchaser still owns the securities, the purchase of which is being rescinded. It reads in pertinent part: (1) Every sale made in violation of ... § 517.12 may be rescinded at the election of the purchaser; the person making the sale ......

...it that this case involves an important question of Florida law which is determinative of the outcome of the cause, for which there is no clear precedent in the decisions of the courts of Florida. The question involves an interpretation of Fla.Stat. § 517.12, specifically the determination of when a sale of securities is considered to have been made in Florida so as to trigger the application of the automatic damage provisions of Fla.Stat....

...re to register in Florida. The district court held - that mandatory damages were required, stating' that one who sells securities by mail to a person located in Florida is selling securities in Florida and must be registered in accord with Fla.Stat. § 517.12. 1 A violation of § 517.12 automatically triggers damages under Fla.Stat....

...After Ainsworth produced evidence of $54,-108.78 in damages, judgment was entered against Skurnick in that amount. There appears to be no doubt that Skurnick acted as a securities dealer for Ainsworth within the meaning of Fla.Stat. § 517.021(9). 3 It is clear under § 517.12 that one who is not registered may not sell securities in this state to persons of this state from offices outside this state, by mail or otherwise, 4 but unless the sale is deemed to take place within the state, there can be no statutory liability....

...Reasons for Certification The district court had no difficulty with the issues in this case, nor do we, until confronting the issue of whether the subject sales were made in Florida. As to this the district court said: Unless Skurnick actually sold securities in Florida within the meaning of Fla.Stat. § 517.12, no liability may be found pursuant to that section. This Court has found no cases directly under § 517.12 which explain what it means to sell a security in Florida....

...he seller would be required to register under Florida law. V. Question to be Certified Whether, under the undisputed facts of this case, the transactions between the parties constituted a sale of securities in Florida within the meaning of Fla.Stat. § 517.12....

...itration Award (DE 23). Ainsworth’s original claim was submitted to arbitration before a panel of the National Association of Securities Dealers, Inc., (“NASD”). Ainsworth asserted claims against Skurnick alleging violations of Fla. *459 Stat. § 517.12, Fla.Stat....

...Florida Statutes, Chapter 517 contains a built-in provision for damages, but despite a finding for Ainsworth, no damages were awarded. This Court’s Order of Remand (DE 21) stated: The arbitration award rendered by the arbitration panel does not specifically state that Respondent violated Fla.Stat. § 517.12, a statutory provision which triggers the application of the mandatory damages provision, Fla.Stat....

...*460 Thus, pursuant to this Court’s order, the arbitration panel clarified its earlier ruling by explaining that: 1) it had found Sam Skurnick negligent; 2) A1 Ainsworth sustained no damages on account of Skur-nick’s negligence; and 3) Ainsworth failed to prove any of his other claims, including a violation of Fla.Stat. § 517.12....

...of Fla.Stat. § 517.301 was justified by the law and the facts. Indeed, Ainsworth does not truly contest this point. Instead, Ainsworth focuses on the arbiters’ award as it relates to the remaining statutory cause of action, violation of Fla.Stat. § 517.12. Accordingly, this Court’s review of the arbitration panel’s finding will focus on whether, in finding that A1 Ainsworth did not prove that Skurnick violated § 517.12, the arbiters exhibited “evident partiality” or “manifest disregard of the law.” Florida Statute § 517.12 provides in relevant part: Registration of dealers, associated persons and investment advisors (1) No dealer, associated person, or issuer of securities shall sell or offer for sale any securities in or from offices in this state, or sell s...

...nt pursuant to the provisions of this section. The intent of the statute is to protect investors. Rudd v. State, 386 So.2d 1216 (Fla. 5th DCA 1980). Florida Statute § 517.211 provides that “Every sale made in violation of either Section 517.07 or Section 517.12 may be rescinded at the election of the purchasers;” F.S. § 517.211. Thus, if a defendant is found to have violated Section 517.12, damages are automatic pursuant to Section 517.211. To prevail on his cause of action under Section 517.12, Ainsworth must prove that at the times relevant hereto: 1) Skurnick was a dealer of securities, who 2) sold securities, 3) in Florida from offices outside Florida, by mail or otherwise, and that 4) Sam Skurnick was not at the time of the sale registered with the Department of Banking and Finance pursuant to the provisions of Section 517.12....

...Under Florida law, one who trades stocks for another is acting as a dealer. The evidence produced at the arbitration hearing makes it abundantly clear (indeed, no other reasonable interpretation is possible) that Skurnick acted as a securities dealer for Ainsworth. To prevail under Section 517.12, Ains-worth also has the burden of proving that, in Skurnick’s role as dealer, Skurnick sold securities in Florida, to Ainsworth. Clearly, Skurnick sold securities to Ainsworth within the meaning of Fla.Stat. § 517.12 and § 517.021(20) (defining “sell”)....

...Skurnick maintains that because he did all his business in his offices in New York and Connecticut, through brokerage houses also outside of Florida, that he never sold securities in Florida. Unless Skurnick actually sold securities in Florida within the meaning of Fla.Stat. § 517.12, no liability may be found pursuant to that section. This Court has found no cases directly under § 517.12 which explain what it means to sell a security in Florida....

...Moreover, common sense indicates, that one who sells securities by mail to a person who is in Florida is selling securities in Florida. Accordingly, the only reasonable conclusion to be drawn from the facts adduced at the arbitration hearing is that Sam Skur-nick violated Fla.Stat. Section 517.12....

...Because the arbiters found otherwise, this Court will vacate its ruling as being in manifest disregard of the law. See Sheet Metal Workers International v. Kinney Air Conditioning Co., 756 F.2d 742 (9th Cir.1985). As stated earlier Fla.Stat. § 517.211 provides that every sale made in violation of Section 517.12 may be rescinded at the election of the purchaser. At arbitration Ainsworth introduced expert testimony that his damages under Fla.Stat. Section 517.12 were fifty-four thousand one hundred eight dollars and seventy-eight cents ($54,108.78), with interest from April 20, 1987....

...Accordingly, it is hereby ORDERED and ADJUDGED that Petitioner A1 Ainsworth’s Renewed Petition to Vacate Arbitration Award (DE 23) is GRANTED. It is further ORDERED and ADJUDGED that Judgment is entered for A1 Ainsworth against Sam Skurnick on Ainsworth’s claim for Skurnick’s violation of Florida Statutes Section 517.12, in the amount of fifty-four thousand one hundred eight dollars and seventy-eight cents ($54,108.78), with interest from April 20, 1987, pursuant to Florida Statutes Section 517.211....

...Skurnick placed ads in the Wall Street Journal. 13. Over the years of doing business, various correspondence took place between Ainsworth and Skurnick. 14. Ainsworth testified that he made inquiries of Skurnick a few times and received long-hand replies through the mail. (R) 109. 1 . 517.12 Registration of dealers, associated persons, investment advisers, and branch offices....

...om offices outside this state, by mail or otherwise, unless the person has been registered by the department pursuant to the provision of this section. 2 . 517.211. Remedies available in cases of unlawful sale (1) Every sale made in violation of ... s. 517.12 may be rescinded at the election of the purchaser; and the person making the sale and every director, officer, partner, or agent of or for the seller, if the director, officer, partner, or agent has personally participated or aided in makin...

...ble victims when the alleged wrongful transfers occurred. Having failed to go beyond the pleadings, Plaintiffs do not create an issue of fact with respect to the existence of Defendant's common law duty. [2] Plaintiffs further maintain that Sections 517.12, 560.111, 655.50, and 517.301, Florida Statutes, impose a duty on Defendant. As Defendant correctly notes, Section 517.12, Fla....

...ing to the clearance and settlement of various transactions in the customer accounts." Hirshenson v. Spaccio, 800 So.2d 670, 673 (Fla. 5th DCA 2001) (citations omitted). [5] As discussed in the November 4, 2003 Order, Plaintiffs argued that Sections 517.12, 560.111, 655.50 and 517.301, Florida Statutes, imposed a statutory duty upon Defendant with respect to Plaintiffs....

...in pertinent part provided: "... did unlawfully and feloniously, within the State of Florida, engage in business and offer for sale and/or sell securities without having first registered as a dealer or salesman... ." in violation of Florida Statute 517.12(1), 1971....

...Florida Statute 517.02(3), 1971, defines "sale" or "sell" to include: "... every disposition or attempt to dispose of a security or interest in a security for value ... `Sale' or `sell' also includes ... a solicitation of a sale... ." Appellees urge that Florida Statute 517.12(1), 1971, applies only to dealings within the State of Florida and that the legislature, realizing that this statute did not cover situations where sales were made to non-resident individuals, amended the statute in 1973, effective October 1,...

...." Appellees then reason that the state is, in actuality, prosecuting them for offenses allegedly committed prior to the effective date of the act. We do not agree. The subject informations were filed on the 11th day of September, 1973, therefore, Florida Statute 517.12(1), 1971, is applicable....

...s, F.S.A. We do not know what evidence was before the trial court to form the basis for his judgment and in the absence of a showing from the record to the contrary, such judgment comes to us clothed with a presumption of correctness. NOTES [1] F.S. § 517.12(1), F.S.A....

...Miley Petroleum Exploration Co., (D.C.N.D.Cal. 1926) 16 F.2d 933. [6] Zerr v. Lawlor, (Tex.Civ.App. 1927) 300 S.W. 112, 114. [7] Local No. 234, etc. v. Henley & Beckwith, Inc., (Fla. 1953) 66 So.2d 818, 821, 823. [8] Schaal v. Race, (Fla.App. 1961) 135 So.2d 252, 257, 258. [9] F.S. § 517.12(1), F.S.A....

...NOTES [1] The claims were: (1) Conversion; (2) Unjust Enrichment; (3) Temporary Injunction; (4) Constructive Trust; (5) Breach of Contract; (6) Fraud; (7) Breach of Fiduciary Duty; (8) Fraud in the Inducement; (9) Civil Conspiracy; (10) Violation of Fla. Stat. § 517.12; (11) Violation of Fla....

...[1] The claims were: (1) Conversion; (2) Unjust Enrichment; (3) Temporary Injunction; (4) Constructive Trust; (5) Breach of Contract; (6) Fraud; (7) Breach of Fiduciary Duty; (8) Fraud in the Inducement; (9) Civil Conspiracy; (10) Violation of Fla. Stat. § 517.12; (11) Violation of Fla....

...Respondents were informed against under two counts: (1) for allegedly violating F.S. Sec. 517.07, F.S.A., which forbids the sale of certain securities which have not been registered with the Florida Public Securities Commission; and (2) for allegedly violating Sec. 517.12, which forbids one who is not registered as a dealer or salesman with the commission to engage in the business of selling securities....

...pp. 1965, reluctantly followed the authority of the Smith case, supra, in affirming as to Count One. However, the court reversed as to Count Two, reasoning as follows: (1) that the Smith case specifically referred only to Sec. 517.07 and not to Sec. 517.12; (2) that the rule of the Smith case should not be extended to include Sec. 517.12 for reasons to be discussed below; and (3) that, in any event, there was no reason to read a requirement of scienter into Section 517.12, since registration as a dealer or salesman is a matter peculiarly within the knowledge of the respondents....

...The United States Court of Appeals for the Eleventh Circuit, in Ainsworth v. Skurnick, 909 F.2d 456 (11th Cir.1990), certified the following question: Whether, under the undisputed facts of this case, the transactions between the parties constituted a sale of securities in Florida within the meaning of Fla. Stat. § 517.12. Id. at 458. The issue in this cause is whether a securities broker in Connecticut and New York is making a sale of securities in Florida under section 517.12, Florida Statutes (1989), when he or she receives an order or check by mail from a Florida resident and acts on that request by purchasing stock or mutual funds in New York....

...lure to register in Florida. The district court held that mandatory damages were required, stating that one who sells securities by mail to a person located in Florida is selling securities in Florida and must be registered in accord with Fla. Stat. § 517.12. A violation of § 517.12 automatically triggers damages under Fla....

...After Ainsworth produced evidence of $54,108.78 in damages, judgment was entered against Skurnick in that amount. There appears to be no doubt that Skurnick acted as a securities dealer for Ainsworth within the meaning of Fla. Stat. § 517.021(9). It is clear under § 517.12 that one who is not registered may not sell securities in this state to persons of this state from offices outside this state, by mail or otherwise, but unless the sale is deemed to take place within the state, there can be no statutory liability....

...Over the years of doing business, various correspondence took place between Ainsworth and Skurnick. 14. Ainsworth testified that he made inquiries of Skurnick a few times and received long-hand replies through the mail... . Id. at 462-63. The pertinent part of section 517.12(1), Florida Statutes (1989), provides: Registration of dealers, associated persons, investment advisors, and branch offices....

...h the department pursuant to the provisions of this section. (Emphasis added.) This section must be read with section 517.211(1), Florida Statutes (1989), which provides, in pertinent part, that "[e]very sale made in violation of either s. 517.07 or s. 517.12 may be rescinded at the election of the purchaser." The intent of section 517.12 is to protect purchasers and, if that section has been violated, damages are automatic in accordance with the provisions of section 517.211....

...Furthermore, the district court commented that "common sense indicates, that one who sells securities by mail to a person who is in Florida is selling securities in Florida." Id. We agree with the United States District Court and find that the language in section 517.12 which states "sell[s] securities in this state to persons of this state from offices outside this state, by mail or otherwise," expresses a clear intent to cover this type of transaction....

...supervision of the laws of their own state. To construe this statute as suggested by Skurnick would make the language "from offices outside this state, by mail or otherwise," meaningless. We also note the legislative history which reflects that when section 517.12 was amended by chapter 78-435, Laws of Florida, the amendment eliminated the phrase "shall engage in business" and, consequently, reduced the requisite involvement by dealers or brokers to bring them under this statute for this type of transaction....

...rtunit[y]." As such, argues plaintiff, Chapter 517 of the Florida Statutes governs the licensing requirements of those who arrange such sales. Plaintiff was at all time registered in good standing as salesmen or dealers of securities under Fla.Stat. § 517.12....

...Attv. Gen., West Palm Beach, for appellee. OWEN, Judge. Samuel F. Sparks was informed against in a three-count information for (1) sale *538 of unregistered securities, F.S. Section 517.07, F.S.A.; (2) sale of securities by an unregistered dealer, F.S. Section 517.12, F.S.A.; and (3) fraudulent sale of securities, F.S....

...[16] Section 517.211 is explained in the House Commerce Committee's Summary and Analysis. [Section 517.211] [b]roadly clarifies the definition and components of the remedies available to either a purchaser or a seller for unlawful sale. For a registration violation under section 507.07 [sic] or section 517.12, the purchaser has the option of voiding the sale and instituting an action for recission [sic] or an action for damages....

...dence and phone calls between the broker in New York and the plaintiff in Florida. Given those facts, the broker was held to have engaged in a course of activity in Florida for the purpose of making sales to the plaintiff in Florida, so as to invoke section 517.12, Florida Statutes, requiring the broker to register in Florida....

...Cella and Ryland Terry Rigsby, Tallahassee, for respondent. Before HENDRY, C.J., and BARKDULL and HAVERFIELD, JJ. BARKDULL, Judge. Petitioners seek review of an order of the respondent, denying the petitioners' application for a Florida securities dealer's license pursuant to Section 517.12, Florida Statutes....

...ard for damages arising after the Diocese's accounts were transferred, [4] and remand this case for further proceedings. REVERSED and REMANDED for further proceedings. PLEUS, C.J., SHARP, W., J., and SEMENTO, L.J., Associate Judge, concur. NOTES [1] Section 517.12(b), Florida Statutes, provides: Registration of dealers, associated persons, investment advisers, and branch offices (12)(b) Every dealer, investment adviser, or federal covered adviser shall promptly file with the department, as presc...

...§ 517.301 (l)(b) by promoting WorldCom through its marketing and advertising without disclosing that its revenues were directly enhanced by increased trading in WorldCom stock; offered WorldCom shares for sale without registering as a broker, in violation of Fla. Stat. § 517.12 ; and committed common law fraud and/or negligent misrepresentation *1295 in its attempts to induce investors to purchase shares of WorldCom....

...§ 517.301(1)(b) by promoting WorldCom through its marketing and advertising without disclosing that its revenues were directly enhanced by increased trading in WorldCom stock; offered WorldCom shares for sale without registering as a broker, in violation of Fla. Stat. § 517.12; and committed common law fraud and/or negligent misrepresentation in its attempts to induce investors to purchase shares of WorldCom. In addition to its claim of absolute immunity, NASDAQ alternatively moved to dismiss the compl...

...ond jurisdictional test of whether he had sufficient minimum contacts with this state to satisfy constitutional due process requirements. The Mesicks also contend that Rafal's registration with the State of Florida as a securities dealer pursuant to section 517.12, Florida Statutes (1993), gives rise to personal jurisdiction. That section provides that anyone so registering consents to service of process for actions growing out of a violation of Chapter 517. However, the Mesicks' action does not claim a violation of Chapter 517 and, therefore, section 517.12 has no application in this case....

...among the several states." Plaintiffs allege that the administrative Order unconstitutionally prohibits them from doing business with persons outside of the state of Florida from offices within this state. The language of the Order finds its origin in § 517.12, F.S.A....

...101) and a statement of disputed facts in opposition to plaintiff's motion for summary judgment (Docket No. 102). I. BACKGROUND Plaintiff brings this case alleging that Defendant failed to register its St. Petersburg *1407 branch office, as required under Section 517.12(5) of the Florida Securities and Investor Protection Act, and, as a result, violated such act, as well as for various common law claims....

...Plaintiff's counts are as follows: First, that Defendant violated the Florida Securities Act because it conducted business at its St. Petersburg branch office and other locations without registering these locations with the Florida Department of Banking and Finance (hereinafter "Department") pursuant to Section 517.12(5). That alternatively, Defendant violated Sections 517.12(11) and 517.12(13) of said act by failing to amend the registered addresses of these branch offices or by conducting business at branch office locations whose registrations had expired when Defendant failed to supply the branch office address information which the Department required....

...ed business at Florida branch offices in violation of Florida registration requirements and failed to disclose its non-compliance with these registration requirements. Second, that Defendant breached its contract with Plaintiff by violating Sections 517.12 and 517.301 of the Florida Securities Act, Rule 3E-600.004(3)(c) and other administrative rules in the course of purchasing and selling securities for Plaintiff....

...Third, that by opening its doors to the public, Defendant falsely represented to Plaintiff that it had complied with all applicable laws and that its branch offices were properly in compliance with Florida branch office registration requirements, including Sections 517.12, 517.12(11), and 517.12(13) of the Florida Securities Act, as well as Rule 3E-600.004(3)(c) and other administrative rules....

...First, that the Florida Department of Banking and Finance has expressly and specifically ruled that the failure to file an amended address does not result in a branch office being unregistered. Second, if Defendant did violate any statute, it only violated Section 517.12(13) which does not entitle Plaintiff to any damages because it is administrative in nature....

...tration records. Third, that Defendant's theory permits dealers to move their locations anywhere in the state without permission, and it is inconsistent with the common law that location licenses are not unilaterally transferable. Fourth, *1408 that Section 517.12(13) merely specifies a method to accomplish a branch office transfer, and does not address whether a branch office remains registered if this method if not followed. Fifth, that this Court must defer to the Department's ruling that investors are entitled to relief for any violation of Section 517.12, including the violations of Sections 517.12(11) and 517.12(13) which Defendant committed....

...Therefore this Court finds the declaratory statement to be persuasive and adopts the Department's rulings. The Department's rulings are as follows: 1. That a failure to notify the Department within 30 days of an address change results in a violation of Rule 3E-600.004(3)(c), Florida Administrative Code, and Section 517.12(13), Florida Statutes. 2. That such failure to notify the Department does not constitute unregistered activity. 3. That Defendant's failure to timely amend the initial branch office registrations is not a violation of Section 517.12(5), Florida Statutes. 4. That there has been no break in Defendant's registration of the St. Petersburg branch. 5. That the violation of Section 517.12(13) will not result in any enforcement action by the Department. 6. That defendant has substantially complied with all the registration requirements of Section 517.12, Florida Statutes. The only issue that the Department did not specifically address was whether Plaintiff was entitled to the remedy of recission as a result of Defendant's violation of Section 517.12(13)....

...91 (Revised 11-91) with the Department within thirty (30) days of the change and denoting thereon that the information reported is an amendment to a previous filing. Failure to file any amendment as provided herein shall be considered a violation of Section 517.12(13), Florida Statutes. Section 517.211 of the Florida Statutes states that: Every sale made in violation of either s. 517.07 or s. 517.12 may be rescinded at the election of the purchaser; and the person making the sale and every director, officer, partner, or agent of or for the seller, if the director, officer, partner, or agent has personally participated or aided in making the sale, is jointly and severally liable to the purchaser in action for recission, if the purchaser still owns the security, or for damages, if the purchaser has sold the security. Although the Plaintiff has argued that Defendant's violation of Section 517.12(13) entitles them to recission, the Court is not persuaded by their arguments in this instance. Instead the Court finds that although Defendant failed to timely amend its address with the Department pursuant to Section 517.12(13), the Plaintiff is not entitled to recission....

...1993) (stating that a jury trial is not permitted in an action for recission because it is an equitable proceeding). The Plaintiff has submitted no case law to establish that courts have awarded the right of recission for failure to comply with the requirements of Section 517.12(13), Florida Statutes....

...Therefore, under Scheurenbrand and Leithauser, the Plaintiff is not entitled to the remedy of recission because Defendant was registered at all times with the Department. Although Plaintiff is entitled to summary judgment on the issue of Defendant's violation of Section 517.12(13), the Defendant is entitled to summary judgment on the issue of recission under Section 517.211. Therefore, Plaintiff is not entitled to any recovery for Defendant's violation of Section 517.12(13)....

...Petersburg branch office did not result in Defendant not being registered, Plaintiff's claim for breach of fiduciary duty must also fail. Alternatively, Plaintiff asserts that Defendant breached its fiduciary duty to her by failing to comply with the branch office registration requirements of Section 517.12 and related administrative rules....

...Quick & Reilly, Inc. is a national brokerage firm with the business unit in question located in St. Petersburg, Florida. The complaint alleges that the Quick & Reilly, Inc. branch located in St. Petersburg, Florida did not register as required under § 517.12(5) of the Florida Securities and Investor Protection Act (Florida Securities Act). FACTS Plaintiff asserts the following alleged facts within the complaint in support of her Motion for Class Certification: 1. Quick & Reilly, Inc. failed to register its St. Petersburg branch office, and thereby violated § 517.12(5) of the Florida Securities Act; 2....

...301(l)(b). NASDAQ’s advertisements and endorsements of WorldCom carried extraordinary weight and power with Plaintiff Second, Weissman alleged that NASDAQ offered WorldCom shares for sale without registering as a broker, in violation of Fla. Stat. § 517.12 ....

...g was set for February 25 and 26, 1991. During the hearing, the Browns abandoned their churning and securities law allegations and argued only that Mr. Brashears' failed to register with the state of Florida in purported violation of Fla. *499 Stat. § 517.12 [1] and that damages equating to $721,762.91 attended this violation per Fla.Stat....

...The petitioners in Ainsworth alleged that Skurnick, a broker registered in New York, was negligent in handling their account, breached fiduciary duties, acted fraudulently, and sold securities by mail from offices in that state to petitioner in Florida while not registered in compliance with Fla.Stat. § 517.12....

...damages and no statutory violations were proven. On subsequent review, the district court upheld the arbitrators' denial of damages regarding the common law negligence allegations, but found that the record clearly exhibited a violation of Fla.Stat. § 517.12. In so finding, the district court outlined the elements of § 517.12 and then set about reviewing the arbitration transcript to determine if the various elements appeared....

...dered a statutory seller of securities. Second, the district court borrowed from Fla.Stat. § 48.193(1)(a), Florida's long-arm statute, to determine that the subject sales by Skurnick were made in Florida, thus fulfilling an important requirement of § 517.12. *502 Finding, based upon its own review of the record, that Skurnick violated § 517.12, the district court stated "[b]ecause the arbiters found otherwise, this Court will vacate its [sic] ruling as being in manifest disregard of the law." Ainsworth, 909 F.2d at 462....

...rida." Ainsworth, 909 F.2d at 458. Acknowledging that it found no Florida precedent controlling this issue, the circuit court certified to the Florida Supreme Court the question of whether the sales in issue occurred in Florida within the meaning of § 517.12....

...[4] Notably, in its per curiam opinion, the Eleventh Circuit never expressly mentioned the district court's vacatur of the arbitration award on manifest disregard of the law grounds. Instead, the circuit court limited its discussion only to the issues surrounding § 517.12....

...One of two conclusions regarding the arbitrators' rationale appear from analysis of the award as clarified. First, although Mr. Brashears did not *505 register as a broker or associated person in Florida, the arbitrators' must have believed such oversight did not violate the provisions of Fla.Stat. § 517.12 and awarded damages on account of defendants' carelessness. Alternatively, the arbitrators' found Mr. Brashears' failure to register in Florida did indeed constitute a violation of § 517.12, but determined that the Browns' damages equated to only $16,000.00....

...Instead, any allegations of impropriety levelled against the arbitrators center upon their purported failure to render an award consistent with law or public policy. Although it is now settled that Mr. Brashears's conduct would likely constitute a violation of § 517.12, at the time of the arbitration hearing the clarity of the law and its applicability were far from pristine. In fact, counsel for the defense advanced to the non-lawyer arbitration panel a fairly cogent argument in favor of interpreting § 517.12 as regulating only out of state securities sellers when those sellers engaged in "boiler room" type operations. [6] Indeed, in Ainsworth the Eleventh Circuit itself noted the lack of any state precedent illuminating the provisions of § 517.12, and certified an issue pertaining to the statute's extra-territoriality to the Florida Supreme Court for determination....

...Not only was the Florida Court's decision still pending upon rendition of the arbitration award, but the arbitrators were advised of the fact that the federal district court's Ainsworth decision comprised merely persuasive, as opposed to binding, authority on the interpretation of Fla.Stat. 517.12....

...the Court cannot say that the arbitration panel engaged in any misconduct, usurped its authority, or committed any egregious error. The worst that can be inferred from the record is that the arbitrators simply misinterpreted the reach and meaning of § 517.12, and vacatur based upon such errors of law or interpretation exceeds this Court's power....

...te from offices outside this state, by mail or otherwise, unless the person has been registered with the department pursuant to the provisions of this section. [2] Remedies available in cases of unlawful sale. (1) Every sale made in violation of ... § 517.12 may be rescinded at the election of the purchaser; and the person making the sale and every director, officer, partner, or agent of or for the seller, if the director, officer, partner, or agent has personally participated or aided in making the sale is jointly and severally liable to the purchaser in an action for rescission, if the purchaser still owns the security, or for damages, if the purchaser has sold the security.... [3] See supra note 1 for statutory elements of § 517.12. [4] In Skurnick v. Ainsworth, 591 So.2d 904 (Fla. 1991), the Florida Supreme Court ruled that Skurnick's activities constituted a sale of securities in Florida pursuant to § 517.12, answering the certified question in the affirmative....

...[5] Although the court's discussion on this issue focused upon arbitration awards silent as to their rationale, as a fortiori the analysis utilized applies equally to cases involving arbitration awards uncertain in their rationale, as appears herein. [6] The defendant essentially maintained that § 517.12 was not intended to regulate out of state securities dealers to the same degree as instate brokers....

...must "sell securities in this state to persons of this state." This deletion of the "offer for sale" language as applied to offices outside of Florida, defendant argued, was intended by the Legislature to limit liability under the long-arm reach of § 517.12 to only those out of state operators actually selling securities from their own inventory, like unscrupulous sellers of fractional oil interests in the 1970's, as opposed to regulating every broker acting as an agent for an in-state buyer....

...lves or their investment advisor. ( Id. ). According to the Florida Securities and Investment Protection Act, "[n]o dealer, associated person, or issuer of securities" can sell securities in Florida without being registered under Act. See FLA. STAT. § 517.12....

...The Robersons alleged that Schwab was in violation of the Florida Securities and Investment Protection Act, FLA. STAT. ch. 517, because Schwab sold securities in transactions that involved Douglas Raborn, who was not registered with the State of Florida pursuant to FLA. STAT. § 517.12....

...Appellants applied for registration with the Department to deal in securities. [1] By letter of December 5, 1989, the Department notified appellants of its intent to deny the registration applications under section 517.161, Florida Statutes (1989), [2] based upon appellants' *247 having violated sections 517.12(1), 517.07, 517.301(1)(a)2, and 517.301(1)(c), Florida Statutes (1989)....

...r 90-4584, and consolidated with case number 90-873. Prior to the hearing, the Department filed a motion in limine as to both cases to preclude appellants from introducing evidence of mitigating circumstances as to the alleged violations of sections 517.12(1), 517.07, and 517.301(1)(a)2, Florida Statutes, on the ground that these sections impose strict liability....

...enses being obtained by default. See, e.g., Naples Community Hospital v. H.R.S., 463 So.2d 375 (Fla. 1st DCA 1985); and also, State, DOT v. Calusa Trace Development, Corp., 571 So.2d 543 (Fla. 2d DCA 1990). NOTES [1] Both appellants were required by section 517.12, Florida Statutes (1989), to register with the Department before engaging in the securities business in this state....

...alidly registered by the state to do so. [2] Section 517.161, Florida Statutes (1989), in pertinent part: Revocation, denial, or suspension of registration of dealer, investment adviser, associated person, or branch office. — (1) Registration under s. 517.12 may be denied or any registration granted may be revoked, restricted, or suspended by the department if the department determines that such applicant or registrant: (a) Has violated any provision of this chapter or any rule or order made under this chapter....

...of the partnership or any officer, director, or ultimate equitable owner... . has been guilty of an act or omission which would be cause for denying or revoking the registration of an individual dealer, investment adviser, or associated person. [3] Section 517.12(1), Florida Statutes (1989), provides in pertinent part: No dealer, associated person, or issuer of securities shall sell or offer for sale any securities in or from offices in this state, or sell securities in this state to persons of this state from offices outside this state ......

...order promulgated by the department, or any written agreement entered into with the department in an amount not to exceed $5,000 for each such violation. All fines collected hereunder shall be deposited as received in the Anti-Fraud Trust Fund. [5] Section 517.12(11), Florida Statutes (1989), provides in pertinent part: If the department finds that the applicant is of good repute and character and has complied with the provisions of this chapter and the rules made pursuant hereto, it shall register the applicant....

...5th DCA 1994), Fluellen v. State, 703 So.2d 511 (Fla. 3d DCA 1997), and the trial court instructed the jury that it could believe or disbelieve any or all of the expert's testimony. AFFIRMED. W. SHARP and HARRIS, JJ., concur. NOTES [1] § 517.07, Fla. Stat. [2] § 517.12, Fla....

...be filed on Form U-4. The rule imposes a duty upon dealers or investment advisers to file such applications on behalf of associated persons. The authority cited for the rule is section 517.03(1), and the cited statutes being implemented are sections 517.12 and 120.53, Florida Statutes....

...registered associated person each time that person changes employment, add additional requirements for reaffiliation which are not specified by statute and which conflict with express statutory language. Specifically, the hearing officer found that section 517.12(6) and section 517.12(10) require applications for "initial registration" and a "fee for reaffiliation of a registered associated person." The hearing officer reasoned that if, as argued by the Department, a new application must be filed each time an associ...

...egistrant to retain his license until appropriate revocation proceedings are brought to a close. The legislature provided various means within Chapter 517 to enable the respondent to keep abreast of the activities of associated persons. For example, section 517.12(12) requires dealers to promptly notify the Department when associated persons have terminated their employment and furnish the reason for such termination. The U-5 form adopted by the Department for this purpose also requires the dealer to list any investigations, proceedings or complaints against the former employee as well as any known violations of law... . In addition, section 517.12(13) requires that any changes in the registration or changes of any material fact or method of doing business be reported by `written amendment.' The Department also is given statutory authority to obtain updated information during the...

...substitute for a license revocation proceeding, neither can a rule requiring an additional license (or registration) provide the mechanism for doing so when the enabling statute does not require a new license (registration). Effective July 1, 1988, section 517.12(6) was amended to delete the word "initial" from language pertaining to applications for reaffiliation, and section 517.12(10) was amended to delete reference to a fee for reaffiliation of a "registered associated person." Section 517.12(11), section 3, was added to clarify Department procedures as follows: It is declared to be the intent of the legislature that the registration of associated persons required by law is specific to the securities dealer or investment advisor identified at the time such registration is approved....

...Although we recognize that Chapter 88-187, Laws of Florida, would be ineffective to ratify rules in actual conflict with the original language of Chapter 517, the amendments may be considered in interpretation of the former language. [1] In light of the amendatory language, we find that the stricken terms "initial" in section 517.12(6) and "reaffiliation of a registered associated person" in section 517.12(10) may reasonably be regarded as superfluous within the total statutory scheme set forth in Chapter 517....

...rst Amended Complaint. That four-count Amended Complaint alleges a violation of 10b-5 of the Securities Exchange Act of 1934 (Count I) against Morgan, individually and d/b/a Anglo Offshore Resources, and Merrill Lynch; a violation of Florida Statute § 517.12 (Count II) against Morgan, individually and d/b/a Anglo Offshore Resources, and Merrill Lynch; a Breach of Fiduciary Duty, Establishment of Constructive Trust and Issuance of Lis Pendens (Count III) against Morgan, individually, and a viola...

...e required particularity (Def.Mot.7-9); (6) failure to state a claim under the Securities Exchange Act (Def.Mot.9-14); (7) Economic Loss Rule (Def.Mot.14-18); (8) failure by Carran to plead ownership over securities as required under Florida Statute § 517.12 (Def.Mot.19-20) and (9) failure to allege properly an intent to charge a particular property with respect to the lis pendens (Def.Mot.20-24)....

...Thus, the economic rule is inapplicable and dismissal of Carran's breach of fiduciary duty, constructive *1061 trust and fraud/conversion claims on that basis is unwarranted. H. Failure to Plead Ownership over the Securities as required under Florida Statute § 517.12 Morgan seeks dismissal of Count II of the Amended Complaint that alleges a violation of Florida Statute § 517.12. (Def.Mot.18.) Section 517.12 provides in relevant part: No dealer, associated person, or issuer of securities shall sell or offer for sale any securities in or from offices in this state, or sell securities to persons in this state from offices outside this state,...

...to the provisions of this section. The office shall not register any person as an associated person of a dealer unless the dealer with which the applicant seeks registration is lawfully registered with the office pursuant to this chapter. Fla. Stat. § 517.12(1)....

three state claims: violation of Florida Statute § 517.12 (1989 & Supp. II 1990) for the sale of securities

...Thus, the FIN-RA arbitration award satisfies the requirements of section 517.161(l)(m), and OFR appropriately relied on it to deny Appellant’s registration application. AFFIRMED. THOMAS and WETHERELL, JJ„ concur. . See § 517.021(2), Fla. Stat. (2012) (defining "associated person”); § 517.12, Fla....

registration of those who deal in securities. § 517.12, Fla. Stat. (1981). Appellee’s business consisted

...eing licensed to sell securities in Florida,” and that appellant “received compensation for the above trades made on June 6, as evidenced by Exhibit 1, the Allied Capital Commission Report.” The Department concluded that appellant had violated section 517.12(1), Florida Statutes, by conducting sales of securities before being properly licensed with the Department....

...tate to those engaged in regulated businesses and professions. Thompson v. Dept. of Professional Regulation, 488 So.2d 103, 105 (Fla. 1st DCA 1986). Appellant also reasserts his contention that he should not have been found guilty of having violated section 517.12 because he was justified in relying upon Allied’s representation that his registration was effective as of June 7, 1988. However, section 517.12 does not contain the element of scienter, and thus appellant’s asserted good faith belief that he was registered on June 7, 1988, is irrelevant. In State v. Houghtaling, 181 So.2d 636 (Fla.1965), the court noted that section 517.12 had been amended in 1935, when the legislature deleted the affirmative defense of “good faith and reasonable belief” from the statute. Id. at 637 . This court cited Houghtaling in Kaufman v. State, 400 So.2d 1273 (Fla. 4th DCA 1981), where we rejected a constitutional attack on section 517.12, stating that the statute does “not require a showing of guilty knowledge or scienter as a prerequisite for conviction.” Id. at 1274 . Thus, appellant’s argument regarding his good faith belief that he was registered at the time he conducted the subject transactions did not provide him with a defense to section 517.12....

...is office. While we have determined that the circumstances surrounding the Department’s investigation of Allied and appellant’s uncontradicted evidence regarding Allied’s role in promoting his conduct do not provide appellant with a defense to section 517.12, we express our belief that those circumstances would have mitigated in favor of a less severe sanction....

...NASDAQ’s advertisements and endorsements of WorldCom carried extraordinary weight and power with Plaintiff . . . . Second, Weissman alleged that NASDAQ offered WorldCom shares for sale without registering as a broker, in violation of Fla. Stat. § 517.12....

deposit with unregistered brokers in violation of Section 517.12, Florida Statutes (1983). On the same day,

...fee from any such investment. Such an endeavor, when carried out by persons who are not registered securities dealers under the Florida Securities and Investor Protection Act, §§ 517.011, et seq., FI. Stat. (1999), is in contravention of the Act. § 517.12(1), Fla....

...tration, and prior 11 to each sale, the Appellees were not given a prospectus as required by the Financial Services Commission. Count II asserted that the sale of Venn's securities to the Appellees violated section 517.12(1) because the Appellants were not registered with the Office of Financial Regulation of the Financial Services Commission as required by section 517.12....

...tration, and prior 11 to each sale, the Appellees were not given a prospectus as required by the Financial Services Commission. Count II asserted that the sale of Venn's securities to the Appellees violated section 517.12(1) because the Appellants were not registered with the Office of Financial Regulation of the Financial Services Commission as required by section 517.12....

...v. Ainsworth, 591 So.2d 904 (Fla.1991) (answering a certified question that a New York securities dealer, who otherwise had no contacts with Florida and who dealt with his Florida client only by mail, was required to be registered in accordance with section 517.12; and interpreting the interplay between sections 517.12 and 517.211). We find that Skumick provides LTI with no such support. Skumick states: “The intent of section 517.12 is to protect purchasers and, if that section has been violated, damages are automatic in accordance with the provision of section *532 517.211.” 591 So.2d at 906 . It is undisputed that LTI made no purchases of securities from Mr. Buehler, although other persons, on Mr. Buehler’s urging, may have invested directly in LTI. Thus, LTI is not a member of a class of persons— purchasers of securities — that section 517.12 seeks to protect....

...of LTI stock, BUEHLER has misrepresented his securities registration status and has alleged facts, which, if true, result in violations by him of the Florida Securities and Investor Protection Act, Fla. Stat. § 517.01 , et seq. 5. Under Fla. Stat. § 517.12 , dealers, associated persons, investment advisors, and branch offices must be registered with the Florida Division of Securities and Investor Protection, Department of Banking and Finance of the State of Florida....

...A copy of a Certificate of Nonregis-tration issued by the Florida Division of Securities and Investor Protection, dated April 1, 1997, is attached as exhibit "A.” 6. If the allegations in his Complaint are true, BUEHLER has violated the provisions of Fla. Stat. § 517.12 by acting as a broker or principal in the business of offering, buying, selling, or otherwise dealing or trading in securities issued by LTI without complying with the state registration requirements of Fla. Stat. § 517.12 ....

...§ 517.211 (6), LTI is entitled to an award of its reasonable costs and attorneys' fees against BUEHLER. . Section 517.211 is titled “Remedies available in cases of unlawful sale.” The section lays out the remedies for plaintiffs who purchased from sellers who violate section 517.07 (Registration of securities), section 517.12 (Registration of dealers, associated persons, investment advisers, and branch offices), or section 517.301 (Fraudulent transactions; falsification or concealment of facts)....

...o Respondents. II. Petitioner's Motion A. The Award The arbitration award entered on September 20, 2001 states: Respondent was negligent, breached its fiduciary duty to Claimants William Bright and Jean Bright, and violated Florida Statutes sections 517.12(1), 517.12(11), 517.07(1), 517.012(5) and Rules 3E-600.002(2) and 3E-600.008(5), FLA Admin. As such, Respondent is liable and shall pay to Claimants William Bright and Jean Bright compensatory damages in the sum of $155,334.25, pre-judgment interest specifically excluded. Respondent violated Florida Statutes sections 517.12(1), 517.07(1), 517.12(5), 517.12(11), Rules 3E-600.002(2) and 3E-600.008(5), FLA Admin., and 777 So.2d 1144 (Fla....

...person to sell or offer to sell a security within this state unless the security is exempt under s. 517.051, is sold in a transaction exempt under s. 517.061, is a federal covered security, or is registered pursuant to this chapter. Florida Statute 517.12 states, in pertinent part: (1) No dealer, associated person, or issuer of securities shall sell or offer for sale any securities in or from offices in this state, or sell securities to persons in this state from offices outside this state, by...

...e purchase and sale of securities or in connection with the rendering of investment advice until such time as they have been properly terminated as provided in this Rule; and such *1257 dealer or investment adviser may be subject to assessment under Section 517.12(11), F.S., for such associated persons as have been terminated but for whom the appropriate termination notices have not been filed at date of license renewal....

...y to transact business only after receiving approval from the customer. (Citation omitted). The Arbitration Award (Dkt.6, Exh. 1) states that the Claimants are pursuing claims for: violation of Florida Securities and Investor Protection Act sections 517.12(5) and 517.301; violation of federal securities laws; breach of contract; common law fraud; constructive fraud through breach of fiduciary duty; negligence and gross negligence; unjust enrichment; and, violations of and conspiracy to violate the Florida RICO statute....

...Florida Statute 517 Petitioner seeks the vacatur of the award of damages for violation of Florida Statute 517, arguing that rescission is the only remedy available. Ainsworth v. Skurnick, 960 F.2d 939 (11th Cir.1992). In Ainsworth, Plaintiff arbitrated a claim for violation of F.S. 517.12 before an NASD panel....

...In the first, the district court remanded to the panel, stating the decision was vague, cursory and without adequate explanation of how the decision was reached. The district court instructed the panel that statutory damages were mandatory when one violates F.S. 517.12, yet the panel found the presence of negligence, but found the Claimant sustained no damages....

...en damaged." Petitioner argues that the panel was informed that rescission is the only permissible remedy applicable, was further informed that Shields did not sell FACT, and in the absence of buyer/seller privity, there is no possible claim under F.S. 517.12....

...oyed by Hutton at the time the alleged injuries occurred to those investors, that the investors never were clients of Hutton and did not deal with Kury when he worked for Hutton. The Palmer court found that Florida Statute subsections 517.301(3) and 517.12(11) and rule 3600.08 of the Florida Administrative Code, when read in pari materia, imposed legal duties on Hutton that supported a claim for negligence....

...promissory notes to James Burleson, in violation of Section 517.07, Florida Statutes (1975). The Information, in Counts II and V, charged appellee with selling the notes without being registered as a dealer or salesman of securities, in violation of Section 517.12, Florida Statutes (1975)....

...h his sales representatives contacted potential investors and consummated securities sales in counties in which Esskuchen had no office. However, the offenses charged in this case relating to sales of securities by an unregistered agent are based on section 517.12, Florida Statutes, which prohibits the sale of securities "from offices in this state ......

...cular securities involved are not exempt from registration. As to the former alleged deficiency argument, we believe the allegations of the information were sufficient to charge the appellant with selling securities in violation of the provisions of Section 517.12, Florida Statutes (1973). Cf. Biederman v. State, 392 So.2d 982 (Fla. 4th DCA 1981). We believe there was sufficient proof to implicate and hold appellant responsible for the sale of securities in violation of Section 517.12....

...agreements constitute securities subject to registration requirements under Florida law. Appellants, ACF IV, LLC, Juan Carlos Zurita, and Rodrigo Lopez, challenge a final judgment finding them liable for selling unregistered securities to appellee, FDI Capital, LLC, in violation of section 517.12(1), Florida Statutes (2018)....

...articipating, RCS defaulted on both loans in September 2019. ACF brought suit against RCS in Mexico, and FDI filed a seven-count complaint against appellants in Miami-Dade County, Florida. The complaint alleged that all three appellants violated section 517.12(1) by selling unregistered securities in the State of Florida and sought rescission of the agreements, consistent with the statute. See § 517.211(1), Fla....

registered to sell securities as is required under section 517.12, Florida Statutes (1989), thus entitling him

...ransactions). No security, unless exempt, may be sold unless it is registered pursuant to the terms of this chapter. §§ 517.07; 517.081, Fla. Stat. (1995). No person may sell securities unless registered with the Department of Banking and Finance. § 517.12, Fla....

ZEHMER, Judge. Owen Castleman appeals the final order of the Comptroller denying his application for registration as an associated person with First United Securities Group of California under section 517.12, Florida Statutes (1987)....

...*1367 Addressing the second issue first, we do not agree that Castleman’s application for reaffiliation as an associated person was not subject to discretionary review and denial. In State Department of Banking and Finance v. Evans, 540 So.2d 884 (Fla.1st DCA 1988), we held that the provisions in section 517.12, both before and after the amendment to that section by chapter 88-187, Laws of Florida, indicate a legislative intent that reaffiliation registrations of associated persons are to be dealer specific and self-terminating....

...ffort to demonstrate that he is not now a person of bad business repute and unworthy to transact securities business. This rationale is based on the following construction of the statutory provisions and departmental rules implementing the statutes. Section 517.12(11), Florida Statutes (1987), states, “If the Department finds that the applicant is of good repute and character and has complied with the provisions of this section and the rules made pursuant hereto, it shall register the applicant.” Section 517.161(1), Florida Statutes (1987), provides in part that “Registration under s. 517.12 may be denied ......

through writings and publications, to investors. Section 517.12(8) also provides that an issuer of a security

statutory bond requirement is set out in F.S. § 517.12(4). . Purchasers are permitted to bring an action

...hing an information. Appellees were informed against, charged with sale of unregistered securities, in violation of § 517.07, Fla.Stat., F.S.A., and with selling securities without having registered as a dealer or salesman therefor, in violation of § 517.12, Fla.Stat., F.S.A....

...However, we reverse the order of quashal wherein it required an allegation of scienter in the second count which charged the defendants with selling securities without first having registered as a dealer or salesman as required under § 517.-12. We do this for several reasons. First, the Smith case did not rule upon section 517.12 of the statute dealing with that offense....

...670, 672 , 36 L.R.A.N.S., 98 . For the reasons stated the order appealed from is affirmed in quashing the first count charging an offense under § 517.07, Fla. Stat, F.S.A., and is reversed for quashal of the second count charging an offense under § 517.12, and the cause is remanded for further proceedings not inconsistent herewith....

...m offices in this State, or sell securities in this State to persons of this State from offices outside this State, by mail or otherwise, unless the person has been registered with the Department pursuant to the provisions of this Section. Fla.Stat. § 517.12(1) (1987)....