Illinois Department of Financial and Professional Regulation

Creation and Responsibilities
– IDFPR was established on July 1, 2004.
– It regulates, oversees, and licenses nearly 300 different types of professional licenses and financial institutions.
– The department is divided into operational components: Division of Banking, Division of Financial Institutions, Division of Professional Regulation, and Division of Real Estate.
– IDFPR enforces standards of professional practice and protects the rights of Illinois residents in transactions with regulated industries.
– Mario Treto, Jr. is the current director (Secretary) of IDFPR.

Division of Real Estate and Cannabis Regulation
– The Division of Real Estate was created on April 1, 2014, through Executive Order 3 (2014).
– IDFPR became responsible for licensing and regulating medical cannabis dispensaries in August 2013.
– Illinois legalized adult use cannabis on June 25, 2019, with the Cannabis Regulation and Tax Act.
– IDFPR oversaw the successful rollout of the adult use cannabis program.
– The department licenses and regulates both medical and adult use cannabis dispensaries.

Licensing and Regulation of Professions
– IDFPR is responsible for the licensure and regulation of various licensed professions.
– It ensures professional standards are upheld in these licensed professions.
– The department tracks and reports sales made at adult use cannabis dispensaries.
– IDFPR licenses Principal Officers, Agents-in-Charge, and Agents at each dispensary.
– The Illinois Licensed Professionals brochure provides information about licensed professionals regulated by IDFPR.

Legalization of Medical Cannabis
– Illinois became the 20th state to legalize medical cannabis in August 2013.
– The Compassionate Use of Medical Cannabis Program Act was signed into law.
– IDFPR became responsible for licensing and regulating medical cannabis dispensaries.
– Dispensaries sell medical cannabis to patients.
– Principal Officers, Agents-in-Charge, and Agents are also licensed and regulated by IDFPR.

Notability and References
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