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Can you summarize FLCL 517.302?
SECURITIES TRANSACTIONS > Criminal penalties; alternative fine; Anti-Fraud Trust Fund; time limitation for criminal prosecution.
Short Summary
This legal document pertains to the regulation of securities transactions in Florida. It establishes criminal penalties for violations of the provisions outlined in this chapter. Individuals or entities who violate this chapter may be charged with a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. If a person obtains money or property exceeding $50,000 from five or more persons, it is considered a felony of the first degree. In addition to fines, a person convicted of violating this chapter may be required to pay court costs and investigation/prosecution costs. The document also mentions the creation of the Anti-Fraud Trust Fund, which is used for investigation and prosecution of administrative, civil, and criminal actions related to this chapter. Furthermore, it states that criminal prosecution for offenses under this chapter is subject to the time limitations specified in s. 775.15.
Whom does it apply to?
Individuals or entities who violate the provisions of this chapter
What does it govern?
Criminal penalties; alternative fine; Anti-Fraud Trust Fund; time limitation for criminal prosecution
What are exemptions?
No exemptions are mentioned
What are the Penalties?
For violations of this chapter, the penalties vary based on the severity of the offense. Generally, violations are classified as a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. However, if a person obtains money or property exceeding $50,000 from five or more persons, it is considered a felony of the first degree. In lieu of a fine, a person convicted of violating this chapter may be sentenced to pay a fine that does not exceed three times the gross value gained or three times the gross loss caused by the conduct, plus court costs and investigation/prosecution costs.
Jurisdiction
Florida