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Cabinet decision on top financial regulator postponed

Gov. Rick Scott and the Florida Cabinet are moving back a decision on hiring a new top financial regulator.

Scott and the Cabinet had been expected to make a pick during a meeting next week, but Kristin Olson, Scott’s Cabinet aide, said Wednesday that the Governor’s Office continues to review applicants for the job of commissioner of the Office of Financial Regulation — and another position as inspector general of the state-backed Citizens Property Insurance Corp.

“Our office needed more time to review those candidates, so they’ll be on the next Cabinet agenda,” Olson said.

The Cabinet meets only two more times this year after next Tuesday’s meeting: Sept. 11 and Dec. 4.

Scott and the Cabinet — Attorney General Pam Bondi, Agriculture Commissioner Adam Putnam and Chief Financial Officer Jimmy Patronis — in June agreed to name Pam Epting as acting commissioner of the Office of Financial Regulation and to reopen the application process after interviewing five applicants.

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An additional 20 applications were submitted following the June meeting. Epting, who was deputy commissioner of the office, had her pay raised by $10,000 to $135,000 with the acting title.

She is not among the applicants to replace former Commissioner Drew Breakspear, who resigned under pressure from Patronis. He claimed there was a “lack of cooperation, responsiveness and communication” from the office under Breakspear.

Scott, Bondi and Putnam will leave their current offices in January, while Patronis is running in the November election to remain as CFO.

Putnam is running for governor, while Scott is running for U.S. Senate.  Bondi can’t seek re-election due to term limits and isn’t seeking another office.

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Republished with permission of The News Service of Florida

The News Service of Florida provides journalists, lobbyists, government officials and other civic leaders with comprehensive, objective information about the activities of state government year-round.

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