In what year was The Florida Office of Financial Regulation (OFR) created?

The Florida Office of Financial Regulation (OFR) was established in 2003. This agency was formed to oversee and regulate various financial sectors, including banking, securities, and insurance, to ensure that the financial practices within the state are sound and equitable. The creation of the OFR was part of an effort to streamline and strengthen the regulation of financial institutions and services in Florida. Understanding the timeline of regulatory bodies like the OFR is crucial for those studying for the Florida 2-14 Life Insurance License, as it highlights the structure of oversight that guides the operation of financial services within the state. This context also underscores the importance of proper licensing and regulation in maintaining industry integrity and consumer protection.