Final Order — Money Services Business

Index: OFR 2026 - 305
STATEOF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
THE BEER SHOP II INC, and
PANAGIOTIS KOMMATAS,
Case Number: 126963
Respondents.
FINAL ORDER
This cause came on for consideration and final agency action. Upon review of the record and being otherwise fully advised in the premises, the Office of Financial Regulation ("Office") hereby finds:

1. The Office has jurisdiction over the subject matter of this case and the parties
   hereto.
2. The entry of this Final Order concludes the above-referenced matter.
   ORDERED:
   A. The Stipulation and Consent Agreement (Exhibit A) is hereby approved and incorporated by reference as if fully stated herein and is adopted as the Office's Findings of Fact and Conclusions of Law. B. The parties shall comply with all terms of the Stipulation and Consent Agreement. DONE and ORDERED this I~ day of June, 2026, in Tallahassee, Leon County, Florida. Commissioner

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order has been furnished to THE BEER SHOP II INC, and PANAGIOTIS KOMMATAS by electronic mail at
• • " thebeershop2@gmail.com and c.roopnarine@grblawfirm.com on this I~ day of June, 2026.
32314-8050
Email: Agency.Clerk@flofr.gov
Tel: (850) 410-9889
2

STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
THE BEER SHOP II INC, and
PANAGIOTIS KOMMATAS,
Respondents.
EXHIBIT A
Case Number: 126963
STIPULATION AND CONSENT AGREEMENT
The State of Florida, Office of Financial Regulation ("Office"), and THE BEER SHOP II INC, and P ANAGIOTIS KOMMAT AS (together "Respondents"), in consideration of the mutual promises herein, recite, stipulate, and agree as follows:

1. Background. At all times material THE BEER SHOP II INC is and has been
   licensed as a Part III Money Services Business, having been issued license number FT30800675, pursuant to chapter 560, Florida Statutes. Panagiotis Kommatas is and has been the President, Treasurer, Responsible Party, and Ninety-Five Percent (95%) Owner of THE BEER SHOP II INC. The Office conducted an examination (No. 123634) to asce11ain Respondents' compliance with chapter 560, Florida Statutes, and the corresponding rules for the period of April 1, 2022 through March 31, 2024 ("examination period"). Based on the examination, grounds existed to initiate an administrative proceeding against Respondents, and on May 21, 2025, the Office issued an Administrative Complaint. Respondents timely filed a response to the Administrative Complaint. In lieu of conducting an administrative hearing, the pai1ies are herein resolving the matters at issue.
2. Jurisdiction. The Office is the state agency charged with the administration and
   enforcement of chapter 560, Florida Statutes, and the rules promulgated thereunder. The Office

has jurisdiction to bring this administrative action against Respondents pursuant to chapter 560, Florida Statutes.
3. Findings. For the purposes of this Stipulation and Consent Agreement,
Respondents consent to the Office's finding that:
a) Respondents failed to timely and accurately enter transactions into the check cashing database (CCDB), in violation of Rule 69V-560.704(5), Florida Administrative Code, and thereby section 560 .310(2)( d), Florida Statutes; b) Respondents failed to maintain copies of acceptable personal identification presented by the customer, in violation of Rule 69V-560.704(4)(c), Florida Administrative Code, and thereby section 560.310(2)(b ), Florida Statutes; c) Respondents accepted and cashed checks for individuals not authorized to negotiate payment instruments for the corporate payee, in violation of section 560.309(4), Florida Statutes; d) Respondents cashed corporate checks where the aggregate face amount of the corporate checks cashed for each payee exceeded 200 percent of the payee's workers' compensation policy payroll amount during the same dates as the workers' compensation policy coverage period, in violation of Rule 69V-560.7044, Florida Administrative Code, and thereby section 560.309(11), Florida Statutes; e) Respondents failed to maintain complete customer files on all customers who cash corporate payment instruments, in violation of Rule 69V- 560.704(4)(d), Florida Administrative Code, and thereby section 560.310(2)(a), Florida Statutes; f) Respondents failed to accurately submit quarterly reports in the format and include information as specified by rule, in violation of Rule 69V-560.602(1), Florida Administrative Code, and thereby section 560.118(2), Florida Statutes; 2

g) Respondents failed to have the compliance officer or their designee review and update all active customer files annually and maintain such documentation within each customer's file, in violation of 69V-560.704(4)(e), Florida Administrative Code, and thereby section 560.310(2)(a), Florida Statutes; and, h) Respondents failed to implement their anti-money laundering program (BSA/AML) by failing to maintain corporate customer files and maintain personal identification for payment instruments exceeding $1,000.00, in violation of section 560.l 14(l)(y), Florida Statutes.
4. Terms and Conditions. The parties agree that the issues raised can be
expeditiously resolved without fmther litigation by the execution of this Stipulation and Consent Agreement. The parties acknowledge that they have read this Stipulation and Consent Agreement and fully understand the rights, obligations, terms, duties, and responsibilities with respect to its contents. Therefore, in compromise and settlement of the foregoing findings and in consideration of the Office's forbearance from further litigation, Respondents agree to the following terms and conditions:
a. FUTURE COMPLIANCE. Respondents agree that they shall cease and desist from violations of chapter 560, Florida Statutes, and the corresponding rules, and comply with all the provisions of chapter 560, Florida Statutes, and the rules promulgated thereunder. b. LICENSE SURRENDER. Respondents shall voluntarily surrender their money services business license (number FT30800675). The license termination shall be effectuated by the Office on the date the Final Order adopting and incorporating this Stipulation and Consent Agreement is entered. At that time, any and all rights and privileges pertaining to those holding such license shall terminate.
c. FUTURE APPLICATION. Respondents, THE BEER SHOP II INC, and
3

PANAGIOTIS KOMMATAS, each shall not act as an affiliated pa11y of any money services business licensed or required to be licensed by the Office, nor shall Respondents apply for any license pursuant to chapter 560, Florida Statutes, for a period of Twenty (20) years from the date of entry of the Final Order adopting this Stipulation and Consent Agreement. The fact that Respondents are not barred by the terms of this agreement from thereafter submitting any such application should not be construed as offering any opinion, suggestion, or insinuation concerning whether such license might be granted by the Office. Any application will be evaluated in the usual statutorily established manner. The facts surrounding this Stipulation and Consent Agreement may be fully considered in any future licensing requests
5. Final Order. Respondents consent to the entry of a Final Order, which
incorporates the terms of this Stipulation and Consent Agreement. Respondents understand and agree that this Stipulation and Consent Agreement is subject to the final approval of the Office of Financial Regulation and the entry of the Final Order adopting such Agreement. In the event that the Final Order is not entered, this Stipulation and Consent Agreement shall be null and void. The Final Order incorporating this Stipulation and Consent Agreement constitutes final action by the Office for which the Office may seek enforcement pursuant to the provisions of chapters 560 and 120, Florida Statutes.
6. Waiver. By Respondents' consent to the entiy of a Final Order with respect to this
proceeding, Respondents waive:
a. Any right to separately stated Findings of Fact and Conclusions of Law; b. Any right to receipt of a Notice of Rights pursuant to chapter 120, Florida Statutes;
c. Any right to an administrative hearing or issuance of a Recommended Order
pursuant to chapter 120, Florida Statutes; and 4

d. Any right to contest in any administrative forum or judicial proceeding (including, but not limited to, an appeal pursuant to section 120.68, Florida Statutes) the validity of any term, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order.
7. Releases. Upon full execution of this Stipulation and Consent Agreement,
Respondents waive, release, and forever discharge the Office and its agents, representatives, and employees from any and all causes of action, in law or in equity, which Respondents may have arising out of this matter. The Office accepts this release and waiver by Respondents on behalf of itself, its agents representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action may exist.
8. Failure to Comply. Respondents acknowledge, concur, and stipulate that
Respondents' failure to comply with any of the terms, obligations and conditions of this Stipulation and Consent Agreement, and the Final Order adopting it, is a violation of the written agreement and the Final Order entered pursuant to chapters 120 and 560, Florida Statutes. Such non￾compliance may result in the issuance of an emergency cease and desist order. However, nothing herein shall be construed to limit Respondents' right to contest any finding or determination of non-compliance.
9. Attorney's Fees. Each paiiy herein shall be solely responsible for its separate costs
and attorney's fees incurred in the prosecution, defense, or negotiations in this matter up to and including the entry of the Final Order adopting this Stipulation and Consent Agreement.
10. Severability. The parties agree that if any provision of this Stipulation and Consent
Agreement or the application thereof to any person or circumstance is held invalid, the Stipulation and Consent Agreement will be given effect without the invalid provision, and to this end, the provisions of this Stipulation and Consent Agreement are declared severable. 5

11. Counterparts. This Stipulation and Consent Agreement may be executed in any
    number of counterparts, and by the pa1iies in separate counterpatis, each of which will be deemed to be an original but all of which together will constitute but one Stipulation and Consent Agreement. Copies of this Stipulation and Consent Agreement transmitted by facsimile or electronic mail shall have the same validity as if bearing an original signature.
12. Entire Agreement. This Stipulation and Consent Agreement represents the entire
    agreement by and between Respondents and the Office. Any alterations, variations, changes, modifications, or waivers of the provisions hereof shall be valid only when they have been reduced to writing, duly signed by the Office and Respondents hereto, attached to the original of this Stipulation and Consent Agreement, and subject to the approval of the Office. WHEREFORE, in consideration of the foregoing, the Office and Respondents execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below. [this space intentionally left blank with signatures appearing on the following page J 6

THE BEER SHOP II INC:
'(signature)
Name: Panagiotis Kommatas
State of ~ t>rid£0
County of "(} f'VWe:t vd.__
Date: __ -J U -'--'- '1\2. =--~ -+-I ........ ~_____..__ Title: President, Treasurer. Responsible Party. and Ninety-Five Percent {95%) Owner Panagiotis Kommatas, as President, Treasurer, Responsible Party, and Ninety-Five Percent (95%) Owner of TIIB BEER SHOP 11 INC, BEFORE ME by means of wPhysical presence or D online notarization, has sworn ( or affirmed) that he has read and understands the foregoing Check the appropriate box:
Personally known D
OR Produced Identification ~ fype of identification produced [}-'briver's License D Passport 0 Other ____ _ (Do not include ID number) 7

PANAGIOTIS KOMMATAS:
(Signature)
Date: _ q-_U_vl_e,_iS+-! ~-"---
Name: Panagiotis Kommatas
State of '+-lori(ACL;
County of <Drowatrl￾Panagiotis Kommatas, BEFORE ME by means of ~hysical presence or D online notarization, has sworn (or affirmed) that he has read and understands the foregoing agreement and voluntarily signed the same. '''"ttHilllllruu, SWORN TO AND SUBS·tt~"~s & day~of::...t:t--1--~----- 2026. J' •• ••~O ~(,e •••• \ 1 : t,~ ~ I f MY COMMISSION \ l ; \ E:XP/RES 4-26-2029 j __. _____ :-t-----
• o· • ~ o
Check the appropriate box: ~-~ ~"'/i'/ %~15&-~ OF f.q!.,••~;f Personally known D d,,,'l,,t§.Miig,.t .... ..,,,,,n,11,1t,,,,,, OR Produced Identification Type of identification produced ~ver's License 0 Passport D Other _____ _ (Do not include ID number) OFFICE OF FINANCIAL REGULATION Gregory C. Oaks, Director Division of Consumer Finance 8 Date: 6/15/2026 ----------