SBA Trustees Unanimously Approve Gov. Scott's Proposal Prohibiting Business with Maduro Regime

TALLAHASSEE, Fla. – On Wednesday, the Trustees of the Florida State Board of Administration (SBA) unanimously approved Governor Scott’s proposal to prohibit the State of Florida from doing business with any organization that supports the Maduro regime which continues to brutally oppress the people of Venezuela. Governor Scott has continually called for freedom and democracy in Venezuela, the liberation of all political prisoners and the end of the Maduro regime. Today’s decision by the Trustees occurred during a meeting of the Florida Cabinet following the Governor’s announcement of this proposal last month.

Governor Scott said, “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.

“We must continue to do everything we can to support freedom and democracy in Venezuela and Latin America and I look forward to working with the Florida Legislature during the next legislative session to strengthen Florida’s opposition to Maduro’s oppression.”

Governor Scott’s proposal that was today unanimously approved by the Trustees of the Florida State Board of Administration prohibits the SBA from doing business with Venezuela in the following ways:

• The SBA is prohibited from investing in any securities issued by the Government of Venezuela.
• The SBA is prohibited from investing in any company that is majority owned by the Government of Venezuela.
• The SBA is completely prohibited from participating in any vote or resolution that advocates or supports the Maduro regime.
• The 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.