Unclaimed Securities Property Management

The Florida Department of Financial Services, Division of Unclaimed Property, is issuing a Request for Proposal (RFP) to obtain competitive sealed Responses from qualified vendors interested in providing securities property management services. The selected contractor will be responsible for establishing a brokerage account in the Department's name, accepting and processing all unclaimed securities remitted to the Department, maintaining the Department's securities positions and transactions, and providing detailed reporting. The contractor must be a member of the NYSE, NASDAQ, and DTC, and licensed as a broker-dealer in Florida. The contractor's compensation will be based on a fixed rate, deducted from the proceeds realized by the Department from the sale or liquidation of its unclaimed securities, and the contractor may also charge a transaction fee for securities reissued or transferred back to claimants. The Department intends to award one Respondent, but reserves the right to award to multiple Respondents by region or make no award, in the best interest of the State. The RFP solicitation will be administered through the Vendor Information Portal (VIP), and the deadline for submitting Responses is April 19, 2022 at 4:00 PM Eastern Time.

The Department has posted Questions and Answers related to the RFP, and the contract will be evaluated based on the Respondent's technical proposal, as well as the pricing for services such as the liquidated securities rate, number of free transactions, and transaction fee rate. The contract term is for an initial three years, with the option to renew for up to three additional years. The Department has not provided any set-aside designations or restrictions on the types of organizations that can respond, nor has it listed any incumbent vendors or current contractors. The total value or budget range for the contract is also not specified in the available information.