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Florida's top financial regulator has invoked emergency powers in response to recent hurricanes, suspending a law that prohibited banks from selling securities. This move aims to facilitate investment in Florida's growing economy. However, for several weeks prior, a government oversight had inadvertently made it illegal for most banks to offer investments in the state. As a result of these changes, Florida is set to join only two other states that invest retirement funds in non-traditional asset classes.
Florida would join only two other states that invest retirement funds in the non-traditional asset class. https://t.co/xXaw2quus1
Florida wanted to make it easier to invest in the state’s booming economy. For several weeks, the government accidentally made it illegal for most banks to sell investments there. https://t.co/DoxCwd6C8K
Nice work, @FLSenate & Florida House — "Florida wanted to make it easier to invest in the state’s booming economy. For several weeks, the government accidentally made it illegal for most banks to sell investments there." via @WSJ https://t.co/t7GR6NLZiZ #FlaPol