All Orders

Consent order entered in connection with a filing violation of the Arkansas Securities Act and Rules of the Arkansas Securities Commissioner as a notice filer for covered securities failed to file its Form D with the Department within the required time frame after the first sale in Arkansas.

Consent order entered into with David Alan Mullenax in connection with Mullenax’s recommendations while acting as an investment adviser representative and broker-dealer agent to purchase and hold certain non-traditional exchange traded funds (EFTs) for more than the one-day period for which they were designed. The order includes findings that the recommendations were unsuitable and in violation of Rules 308.01(d) and 308.02(a), Rules of the Arkansas Securities Commissioner, and Ark. Code Ann. § 23-42-308(a)(2)(G).

Consent order entered in connection with a filing violation of the Arkansas Securities Act and Rules of the Arkansas Securities Commissioner as a notice filer for covered securities failed to file its Form D with the Department within the required time frame after the first sale in Arkansas.

Consent order entered in connection with a filing violation of the Arkansas Securities Act and Rules of the Arkansas Securities Commissioner as a notice filer for covered securities failed to file its Form D with the Department within the required time frame after the first sale in Arkansas.

Order approving licensure of Keith Douglas Brooks with State Farm Bank, F.S.B.

The Circuit Court of Benton County renders judgment against Nick Lynn Technologies, Inc.; Lendell Earl Hillhouse, Sr., President and James Robin Pace, Secretary, finding that all defendants sold unregistered securities and securities fraud.  All three defendants are permanently enjoined from engaging in the sale of securities and ordered to pay restitution of $55,000 to one victim and $15,000.

Order approving licensure of Charlotte Baumgardner Potts with State Farm Bank, F.S.B.

Order approving licensure of Kevin Ray Bonnette with State Farm Bank, F.S.B.

A consent order entered in connection with Crews & Associates, Inc.’s role as the placement agent for and its sale of debentures issued by Bamco Gas, LLC, finding the following violations of the Arkansas Securities Act, the Rules of the Arkansas Securities Commissioner, and relevant rules of the Financial Industry Regulatory Authority: 1) NASD Conduct Rule 2310 (Recommendations to Customers – Suitability), Ark. Code Ann. § 23-42-308(a)(2)(G), and Rules 308.01(d) and (x) regarding Crews’ failure to conduct a reasonable due diligence investigation into the Bamco debenture offerings, rendering the Bamco debentures not suitable for at least some customers under a reasonable-basis suitability analysis; 2) Ark. Code Ann. § 23-42-308(a)(2)(G) and Rule 308.01(y) for Crews’ failure to disclose certain information about Bamco, Bamco’s control persons, and the Bamco Debentures; and 3) NASD Conduct Rule 3010 (Supervision), Ark. Code Ann. § 23-42-308(a)(2)(G) and (J), and Rule 308.01(x) for failure to enforce a supervisory system reasonably designed to enable Crews and its agents to achieve compliance with applicable securities laws, rules, and regulations in the sale of the Bamco debentures.