Groups oppose deregulation of Florida broker industry

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There's legislation under consideration in Florida that would deregulate the state's "strong and vibrant" yacht brokerage industry by ending the Florida Yacht & Ship Brokers Act.

The Florida Yacht Brokers Association, the Marine Industries Association of South Florida and the Marine Industries Association of Florida oppose the measure because it would undermine the professionalism of Florida's yacht brokers, according to an opinion piece by FYBA president Cromwell Littlejohn that was published in the South Florida Sun-Sentinel newspaper.

"With its international reach, Florida's yacht brokerage industry is the envy of the world. Y&SBA protects buyers, sellers and brokers by ensuring that all yacht brokers operating in the state are licensed and bonded while conducting business according to the highest ethical and professional standards," he wrote.

"Deregulating Florida's yacht brokers, as outlined in CS/HB 5005, would leave consumers wary about doing business in a state where their boat purchases, finances and general well-being are at risk," Littlejohn added. "In addition, the reputation of Florida yacht brokers could suffer and significant revenues generated for Florida from boat sales, as well as jobs, would be lost."

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