Invitation for Comments under the Money Transmission Act
Please submit comments to firstname.lastname@example.org.
The Department is requesting comments on proposed changes to regulations under the Money Transmission Act. The proposed regulations set forth requirements for a money transmitter license and money transmitters who are licensed by the Department of Business Oversight. The proposed changes under consideration include amendments to definitions, exemptions from the Money Transmission Act, application requirements for a license, administrative standards and procedures relating to an application for a license, tangible shareholders’ equity, consumer disclosures, and eligible securities. Accordingly, the Department is seeking comments from interested parties and parties who would be subject to the regulations. The Invitation for Comments Notice is available at this link.
The deadline to submit comments is April 26, 2014.