Florida SBA Votes to Prohibit Venezuelan Investments

The Florida State Board of Administration (Florida SBA) unanimously approved a resolution to prohibit investments linked to Venezuela. The resolution was signed by the organization’s board members. Essentially, the new resolution modifies the current investment policy of Florida SBA.

Here are the changes:
1. Florida SBA is prohibited from investing in any securities issued by the Government of Venezuela.
2. Florida SBA is prohibited from investing in any company that is majority owned by the Government of Venezuela.
3. Florida SBA is completely prohibited from participating in any vote or resolution that advocates or supports the Nicolás Maduro regime.
4. Florida SBA is completely prohibited from doing business with any financial institution or U.S. company which directly, or through a subsidiary, and in violation of federal law, makes any loan, extends credit of any kind or character, advances funds in any manner, or purchases or trades any goods or services in or with the Government of Venezuela.

Florida Governor Rick Scott stated, “I am proud today to have the unanimous support of the Trustees of the Florida State Board of Administration in prohibiting Florida from doing business with those who support the evil dictatorship of Nicolas Maduro. I have heard firsthand from so many whose families have been hurt by the brutalities perpetrated by Maduro and his gang of thugs. As Maduro continues to totally disregard the will of the people and empower his dictatorship through his assembly, Florida stands firmly with the Venezuelan people in demanding absolute freedom and democracy now. Let me be clear, the policy we enacted today is a huge step in the right direction and ensures that SBA investments won’t benefit the Maduro regime.”

Florida SBA is determining its exposure to these Venezuelan-linked investments.

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