Regulatory Alerts2026-08-03
Added · Updated
Final Order — South Exchange, Inc. and Silvio Anspach
The Office of Financial Regulation approves a Stipulation and Consent Agreement with South Exchange, Inc. and Silvio Anspach regarding violations of chapter 560, Florida Statutes. The Respondents must pay an administrative fine of $10,000 and are prohibited from cashing checks aggregating over $1,500 for five years. This order resolves findings that the Respondents failed to report aggregated cashed checks exceeding $1,000, failed to timely report changes in financial information, failed to maintain payment instruments in their own commercial account, failed to implement their AML manual, and failed to include required provisions in vendor agreements.
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