32 M.R.S. §6068: Purpose

It is the intent of the Legislature that the provisions of this Act accomplish the following:

1. Coordination. Ensure states can coordinate in all areas of regulation, licensing and supervision to eliminate unnecessary regulatory burden and more effectively use regulator resources;

2. Protection of public. Protect the public from financial crime;

3. Standardization. Standardize the types of activities that are subject to licensing or otherwise exempt from licensing; and

4. Modernization. Modernize safety and soundness requirements to ensure customer funds are protected in an environment that supports innovative and competitive business practices.