FLORIDA OFFICE OF FINANCIAL REGULATION www.FLOFR.com DREW J. BREAKSPEAR COMMISSIONER, "Lome December 30, 2014 Via U.S. Certified Mail 41 7199 F991 7034 b&51 0255 Shared Advisors, Inc. d/b/a Easy Check Cashing c/o Todd Hirshom, President & Registered Agent . 1678 S. Congress Avenue Palm Springs, FL 33461 To: Mr. Hirshorn, Enclosed you will find a copy of an Administrative Complaint filed against Shared Advisors, Inc. d/b/a Easy Check Cashing alleging violations of Chapter 560, Florida Statutes. If Shared Advisors, Inc. d/b/a Easy Check Cashing does not respond to the Complaint within 21 days after receipt, a Final Order will be entered against it as indicated in the Administrative Complaint. If you have any questions or concerns, please do not hesitate to contact me at 850-410-9716. Sincerely, a Assistant General Counsel 101 EAST GAINES STREET, TALLAHASSEE, FLORIDA® (850) 410-9887 FAX (850) 410-9914 MAILING ADDRESS: 200 EAST GAINES STREET, TALLAHASSEE, FLORIDA 32399-0376 STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION IN RE: SHARED ADVISORS, INC. Administrative Proceeding Docket d/b/a/ EASY CHECK CASHING, Number: 1015-M-02/14 Respondent. ADMINISTRATIVE COMPLAINT Comes now, the State of Florida, Office of Financial Regulation, (“Office”) and files this Administrative Complaint against SHARED ADVISORS, INC d/b/a EASY CHECK CASHING (‘“Respondent” or “Shared Advisors”), alleging: GENERAL ALLEGATIONS 1. Pursuant to sections 560.105 and 560.109, Florida Statutes, the Office is charged with administering and enforcing the provisions of Chapter 560, Florida Statutes, and conducting examinations and investigations to determine whether any provision of Chapter 560, Florida Statutes, has been violated. 2. Pursuant to subsection 560.114(1)(a), Florida Statutes, failure to comply with any provision of Chapter 560, Florida Statutes, or related rule constitutes grounds for disciplinary action. 3. At all times material hereto, Respondent is or has been a: a. Part III Money Transmitter licensee pursuant to Chapter 560, Florida Statutes, and specifically a “money services business,” as defined in section 560.103(22), Florida Statutes, having been issued license number FT340000178; and, b. “Deferred presentment provider,” as defined in section 560.103(12), Florida Statutes. 4. At all times material hereto, Respondent’s address of récord is and has been 1678 S. Congress Avenue, Palm Springs, FL 33461, and whose owner of record with the Office is and has been Todd Hirshorn. 5. From April 4, 2013 through October 15, 2013, the Office conducted an examination (#39044) of Respondent’s business records for the time period of March 1, 2010 through December 31, 2012 (“examination period”). 6. Pursuant to Rule 69V-560.1000(150), Florida Administrative Code, the range for an “A” level fine is between $1,000 and $3,500; and pursuant to Rule 69V-560.1000(151), Florida Administrative Code, the range for an “A” suspension is 3 to 10 days. 7. Pursuant to Rule 69V-560.1000(150), Florida Administrative Code, the range for a “B” level fine is between $3,500 and $7,500; and, pursuant to Rule 69V-560.1000(151), Florida Administrative Code, the range for a “B” suspension is 10 to 20 days. 8. During the examination period, Respondent conducted money services business as a check casher. OUNTI 1. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 2. During the examination time period, Respondent cashed payment instruments exceeding $1,000. 3. When a payment instrument of more than $1,000 is presented for negotiation or payment, subsection 560.310(2)(c), Florida Statutes (2012), and Rule 69V-560.704(4), Florida Administrative Code, require Respondent to affix an original thumbprint of the conductor to the 2 original of each payment instrument accepted, and to maintain a copy of the original payment instrument, including the thumbprint of the customer.. 4. Respondent failed to affix an original thumbprint of the conductor to the original of each payment instrument accepted when a payment instrument of more than a $1,000 was presented for negotiation or payment. 5. Respondent failed to maintain a copy of the original payment instrument, including the thumbprint of the customer when a payment instrument of more than a $1,000 was presented for negotiation or payment. 6. Pursuant to Rule 69V-560.1000(97), Florida Administrative Code, a licensee cited for failing to affix an original thumbprint of the conductor to the original of each payment instrument accepted and failing to maintain a thumbprint of the customer, including the thumbprint of the customer, when a payment instrument of more than a $1,000 is presented for negotiation or payment, for the first time is subject to a “B” fine and a “B” suspension. 7. Therefore, the Office is seeking an administrative fine of $5,700 and no suspension. COUNT II 8. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 9. During the examination period, Respondent cashed or accepted payment instruments. 10, Subsection 560.309(2), Florida Statutes, requires licensees to endorse payment instruments using the legal name under which the Respondent is licensed when cashing or accepting payment instruments. 11. Respondent failed to endorse payment instruments with the legal name under which it was licensed, in contradiction and violation of subsection 560.309(2), Florida Statutes. 3 12, Pursuant to Rule 69V-560.1000(84), Florida Administrative Code, a licensee cited for the first time for failing to endorse payment instruments with its legal name is subject to a “B” fine and a “B” suspension. 13. Therefore, the Office is seeking an administrative fine of $3,700 and no suspension. COUNT DI 14. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 15. Subsection 560.404(12), Florida Statutes, requires that the deferred presentment agreement and the drawer’s check bear the same date. 16. During the exam period Respondent’s deferred presentment agreements and drawer checks failed to bear the same date, in contradiction and violation of subsection 560.404(12), Florida Statutes. 17. Pursuant to Rule 69V-560.1000(121), Florida Administrative Code, a deferred presentment licensee cited for the first time for violation of section 560.404(12), Florida Statutes, is subject to an “tA” fine. 18. Therefore, the Office is seeking an administrative fine of $1,000. COUNT IV 19. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 20. Subsection 560.404(14), Florida Statutes, prohibits a deferred presentment provider from accepting or holding an undated check or a check dated on a date other than the date on which the deferred presentment provider agreed to hold the check and signed the deferred presentment transaction agreement. 21. During the exam period, Respondent accepted or held undated checks or checks dated on a date other than the agreement date, in contradiction and violation of subsection 560.404(14), Florida Statutes. 22. Pursuant to Rule 69V-560.1000(123), Florida Administrative Code, a deferred presentment licensee cited for the first time for violation of subsection 560.404(14), Florida Statutes, is subject to an “A” fine. 23. Therefore, the Office is seeking an administrative fine of $1,000. COUNT V 24. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 25. Subsection 560.1092(1), Florida Statutes, and Rule 69V-560.504, Florida Administrative Code, require examined licensees to remit payment to the Office for invoiced examination expenses within 30 days from the date of the invoice. 26. On November 22, 2013, Respondent received from the Office via certified mail an invoice in the amount of $1050.00 dated November 21, 2013. 27. Respondent’s examination fee was due on December 23, 2013. 28. The Office received Respondent’s examination fee on January 7, 2014. 29. Respondent failed to timely pay to the Office assessed examination expenses within 30 days of the invoice date, in contradiction and violation of subsection 560.1092(1), Florida Statutes, and Rule 69V-560.504, Florida Administrative Code. 30. Pursuant to Rule 69V-560.1000(3), Florida Administrative Code, a licensee cited for the first time for failing to timely pay an exam fee is subject to an “A” fine and an “A” suspension. ' The calculated due date fell on Saturday, December 21, 2013, therefore the actual due date automatically moved to Monday, December 23, 2013. 5 31. Therefore, the Office is seeking an administrative fine of $1,000 and no suspension. COUNT VI 32. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 33. The fourth quarter of 2012 ended on December 31, 2012; pursuant to subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code, Respondent was required to file the fourth quarter 2012 quarterly report by February 14, 2013. 34. Respondent filed its fourth quarter 2012 quarterly report with the Office on April 15, 2013. 35. During the examination period, Respondent failed to timely file the fourth quarter 2012 quarterly report with the Office, in violation of subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code. 36. Pursuant to Rule 69V-560.1000(39), Florida Administrative Code, a licensee cited for the first time for failure to submit quarterly reports is subject to an “A” fine and an “A” suspension. 37. Therefore, the Office is seeking an administrative fine of $1,000 and no suspension. COUNT Vi 38. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 39. The second quarter of 2013 ended on June 30, 2013; pursuant to subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code, Respondent was required to file the second quarter 2013 quarterly report by August 14, 2013. 40. Respondent filed its second quarter 2013 quarterly report with the Office on August 30, 2013. 41. Respondent failed to timely file the second quarter 2013 quarterly report with the Office, in violation of subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code. 42. Pursuant to Rule 69V-560.1000(39), Florida Administrative Code, a licensee cited for the first time for failure to submit quarterly reports is subject to an “A” fine and an “A” suspension. 43. Therefore, the Office is seeking an administrative fine of $1,000 and no suspension. COUNT VII 44. The above general allegations 1 through 8 are hereby re-alleged and incorporated by reference as if fully stated herein. 45. The third quarter of 2013 ended on September 30, 2013; pursuant to subsection 560,118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code, Respondent was required to file the third quarter 2013 quarterly report by November 14, 2013. 46. Respondent filed its third quarter 2013 quarterly report with the Office on November 22, 2013. 47. Respondent failed to timely file the third quarter 2013 quarterly report with the Office, in violation of subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code. 48. Pursuant to Rule 69V-560.1000(39), Florida Administrative Code, a licensee cited for the first time for failure to submit quarterly reports is subject to an “A” fine and an “A” suspension, 49. Therefore, the Office is seeking an administrative fine of $1,000 and no suspension. COUNT IX 50. The above general allegations 1 through 8 are hereby re-alleged and incorporated by 7 reference as if fully stated herein. 51. The fourth quarter of 2013 ended on December 31, 2013; pursuant to subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code, Respondent was required to file the fourth quarter 2013 quarterly report by February 14, 2014. 52. Respondent filed its fourth quarter 2013 quarterly report with the Office on March 6, 2014. 53. Respondent failed to timely file the fourth quarter 2013 quarterly report with the Office, in violation of subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code. 54, Pursuant to Rule 69V-560.1000(39), Florida Administrative Code, a licensee cited for the first time for failure to submit quarterly reports is subject to an “A” fine and an “A” suspension. 55. Therefore, the Office is seeking an administrative fine of $1,000 and no suspension. COUNT X 56. The above general allegations 1 through 8 are hereby re-alleged and incorporated by teference as if fully stated herein. 57. The second quarter of 2014 ended on June 30, 2014; pursuant to subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code, Respondent was required to file the second quarter 2014 quarterly report by August 14, 2014. 58. Respondent filed its second quarter 2014 quarterly report with the Office on September 9, 2014. 59. Respondent failed to timely file the second quarter 2014 quarterly report with the Office, in violation of subsection 560.118(2), Florida Statutes, and Rule 69V-560.602, Florida Administrative Code. 60. Pursuant to Rule 69V-560.1000(39), Florida Administrative Code, a licensee cited for the first time for failure to submit quarterly reports is subject to an “A” fine and an “A” suspension. 61. Therefore, the Office is seeking an administrative fine of $1,000 and no suspension. WHEREFORE, Respondent, SHARED ADVISORS, INC. d/b/a EASY CHECK CASHING, is hereby notified that the Office intends to enter an Order imposing a fine of $17,400 and/or imposing other penalties that may be provided for in Chapter 560, Florida Statutes. NOTICE OF RIGHTS The licensee is entitled to be represented by counsel or other qualified representative. The licensee also has the right to request a hearing pursuant to sections 120.569 and 120.57, Florida Statutes. Such request must comply with Rules 28-106.2015 and 28-106.104, Florida Administrative Code. An Election of Proceeding form is attached for your convenience. Any such request must be filed as follows: By Mail or Fax OR By Hand Delivery Office of Financial Regulation Office of Financial Regulation P.O. Box 8050 General Counsel’s Office Tallahassee, FL 32314-8050 The Fletcher Building, Suite 118 Phone: (850) 410-9987 101 East Gaines Street Fax: (850) 410-9914 Tallahassee, FL 32399-0379 Phone: (850) 410-9987 TO PRESERVE THE RIGHT TO A HEARING, A WRITTEN RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY-ONE (21) DAYS AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. SAID RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY-FIRST DAY AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. A FAILURE TO TIMELY RESPOND IN WRITING WILL CONSTITUTE A WAIVER OF THE LICENSEE’S RIGHT TO REQUEST A HEARING AND A FINAL ORDER MAY BE ENTERED WITHOUT FURTHER NOTICE. You may not make an oral request for an administrative hearing. With regard to a written request, if you fail to follow the outlined procedure, your request may be dismissed. Any request for an administrative proceeding received prior to the date of this notice is deemed abandoned and to be considered, must be timely renewed in compliance with the procedure set forth above. Mediation of this matter pursuant to section 120.573, Florida Statutes, is not available. DATED and SIGNED this 1 hay of aca cca 2014. DREW J. BREAKSPEAR NGI By: Sheila Harley, Assi 10 CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing Administrative Complaint has been furnished by certified U.S. mail, Return Receipt Requested to SHARED ADVISORS, INC. d/b/a EASY CHECK CASHING, c/o Todd Hirshorn, as President & Registered Agent, at 1678 S. Congress Avenue, Palm Springs, FL 33461 and c/o Todd Hirshom, as President, at 1749 N. Powerline Rd, Pompano Beach, FL 33461 on this 30TR, of Dec torts , 2014. Sheila Harley Assistant General Counsel Office of Financial Regulation Fla. Bar No. 844241 . 101 E. Gaines Street Tallahassee, FL 32399-0379 (850) 410-9887 (850) 410-9914 (fax) Sheila._harley@flofr.com 11 STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION OFR Case No: 1015-M-02/14 Shared Advisors, Inc. d/b/a Easy Check Cashing 1678 S. Congress Avenue Palm Springs, FL 33461 ; ELECTION OF PROCEEDING (have received and read the Administrative Complaint, including the Notice of Rights, filed by the Office of Financial Regulation (“Office”) regarding the above-referenced licensee. As the licensee or the authorized representative of the licensee, | am requesting disposition as indicated below. (CHECK A BOX FOR NUMBER 1, 2, OR 3) 1. [ ] !do not dispute any of the Office’s factual allegations and application of the law as stated in the Administrative Complaint. Therefore, | do not request a hearing in this matter. | understand that upon my waiving the right to a hearing, the Office may enter a final order imposing a penalty as set forth in the Administrative Complaint. 2. 1do not dispute any of the Office’s factual allegations but dispute the Office’s application of the law to those factual allegations, and request disposition of this matter pursuant to Section 120.57(2), Florida Statutes. | request to (CHECK ONE OF THE FOLLOWING OPTIONS): [ ] Submit a written statement with supporting documentation to a Hearing Officer in lieu of a hearing; OR { ] In person, attend a hearing conducted by a Hearing Officer; OR [ ] By telephone conference call, attend a hearing conducted by a Hearing Officer. 3. [ ] |! do dispute one or more of the Office’s factual allegations. | request a section 120.57(1), Florida Statutes, formal hearing before the Division of Administrative Hearings. Pursuant to the requirements of Rule 28-106.2015(5)(c), Florida Administrative Code, |_am attaching the material facts that | dispute (SEE PAGE 2). TO PRESERVE THE RIGHT TO A HEARING, A RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY-ONE (21) DAYS OF THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. THE RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY-FIRST DAY AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. The address for filing is: P.O. Box 8050, Tallahassee, Florida 32314-8050. If hand delivery is preferred, the physical address is: General Counsel's Office, The Fletcher Building, Suite 118, 101 E. Gaines Street, Tallahassee, FL 32399. Signature of Licensee or Mailing Address Authorized Representative of Licensee Printed Name & Title City State Zip Date E-mail Address Telephone Number Fax Number Date Administrative Complaint was Received: Election of Proceeding Page 1 of 2 STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION OFR Case No: 1015-M-02/14 Shared Advisors, Inc. d/b/a Easy Check Cashing 1678 S. Congress Avenue Palm Springs, FL 33461 **YOU ARE TO COMPLETE THE FOLLOWING ONLY IF YOU HAVE CHECKED NUMBER 3 ON THE PRECEDING PAGE. If you need more space, you may provide additional pages. As the licensee or the authorized representative of the licensee, | am disputing the following material facts: Signature of Licensee or Authorized Representative Date Election of Proceeding Page 2 of 2 G3LS3NDFY JONAS NUNS SS20 ThP4 hEOd Tbhbb bbTd Th | | 9L€0-B6EZE 14 ‘SesseyeiieL 8 3 JEONG SBUIED “3 007 ‘ | SONVNIS YAWNSNOD AO NOISIAIG WY OUAIYII

Docket for Case No: 15-000642