meta_id 3221439

On June 2026, the Florida Office of Financial Regulation (OFR) entered a Final Order approving a Stipulation and Consent Agreement with Amscot Corporation, doing business as Amscot Financial, and Ian Mackenchie, resolving compliance violations identified during an examination of the money services business. Amscot Corporation holds a Part II Money Services Business license (FT20700107) in Florida and is subject to regulation under Chapter 560, Florida Statutes. The OFR's examination (No. 128141) identified four categories of violations: failure to timely report a change in bank account within 30 days, in violation of Rule 69V-560.201(2), Florida Administrative Code, and Section 560.126(2), Florida Statutes; submission of inaccurate information to the Check Cashing Database in 56 of 211 transactions, in violation of Rule 69V-560.704(5), Florida Administrative Code, and Section 560.310(2)(d), Florida Statutes; failure to maintain copies of acceptable personal identification in 4 of 217 cases, in violation of Rule 69V-560.704(4)(c), Florida Administrative Code, and Section 560.310(2)(b), Florida Statutes; and failure to endorse payment instruments in 6 of 211 cases, in violation of Rule 69V-560.704(2)(a), Florida Administrative Code, and Section 560.309(2), Florida Statutes. Under the settlement agreement, Amscot Corporation and Mackenchie agreed to pay an administrative fine of $11,625 and to cease and desist from future violations of Chapter 560, Florida Statutes, and its implementing rules. The respondents waived their rights to an administrative hearing, separately stated findings of fact and conclusions of law, and any right to appeal the Final Order. The settlement resolves the matter without further litigation.