The Legal Section of the Arkansas Securities Department includes a general counsel and a staff of six attorneys who represent the Department in all litigation and enforcement actions and are responsible for analyzing legislation, promulgating regulations, and responding to requests for interpretive opinions from licensees and the public. On this page, you’ll find important information about acts, policies, rules, orders, legal opinions, and more.
Acts
The acts enforced by the Arkansas Securities Department.
Rules
The rules promulgated by the Arkansas Securities Department.
Proposed Rules
Current proposed amendments to the rules and recently adopted rules.
Orders
Stonehenge Technology Labs, Inc.
02/03/2023
A Consent Order entered against an issuer of securities exempt pursuant to Ark. Code Ann. section 23-42-504(a)(13) and Rule 504.01(a)(13)(N) for a late filing with the Department.
Nexo Capital Inc.
02/03/2023
A Consent Order entered in connection with unregistered offers and sales of digital asset investments in violation of the Arkansas Securities Act.
Acropolis Partners, LLC
01/25/2023
A Consent Order entered in connection with violations of the Arkansas Securities Act for unregistered investment adviser activity.
Pleadings
Expert-Trading FX
12/07/2022
A Request for a Cease and Desist Order directing Expert-Trading, an unregistered issuer of securities, and its agents to immediately cease and desist from the fraudulent and unregistered offer and sale of securities in Arkansas.
Facebook Pay (USA) Limited
03/03/2022
A Request for Cease and Desist Order directing Facebook Pay (USA) Limited to immediately cease and desist from all money transmitter activity in Arkansas until properly licensed.
True Bullion dba GSI Exchange LLC
02/10/2022
A Request for a Cease and Desist Order concerning unregistered, fraudulent investment adviser activity conducted in Arkansas.
Legal Opinions
Hourly, Inc.
10/11/2022
A request for the Department to issue a no-action letter
concerning the claim of exemption from licensing
requirements contained in the Arkansas Money Services
Act for Hourly, Inc.
Green Bay Packers, Inc.
11/02/2021
A request for the Department to issue a no-action letter regarding the offering of shares of Green Bay Packers, Inc.‘s common stock.
Mythical Games, Inc.
06/22/2020
A request for the Department to issue a no action letter concerning the claim of exemption from licensing requirements contained in the Arkansas Money Services Act for Mythical, Inc.
Policies
Policy Statement Regarding Statement on Subprime Mortgage Lending
06/18/2008
Arkansas Securities Commissioner A. Heath Abshure has issued this Policy Statement to adopt the Statement on Subprime Mortgage Lending. The objective is to achieve uniformity in the regulation of the mortgage industry, whether the industry participants are federally insured or non-federally insured entities.
Policy Statement Regarding Requests for Informal Advice
06/17/2008
Arkansas Securities Commissioner A. Heath Abshure has issued this Policy Statement to provide procedures on how to request informal advice from the Department.