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 statues and rules and recently enacted statutory amendments and adopted rules.
Orders
Patsy Serrano
08/26/2024
An Order entered by the Arkansas Securities Commissioner granting a limited agent registration.
Christopher Lee Baugh
08/19/2024
A Consent Order granting conditional registration following unauthorized outside business activities in violation of the Arkansas Securities Act and Rules of the Arkansas Securities Commissioner.
Molten Industries Inc.
08/02/2024
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.
Pleadings
GOO Markets LLC
07/31/2024
A Request for a Cease and Desist Order directing GOO Markets LLC to immediately cease and desist from perpetrating securities fraud in the offer of securities as well as to cease and desist from all money transmitter activity in Arkansas until properly licensed and registered.
Leon Moody & Sons Inc.
07/30/2024
A Request for a Cease and Desist Order directing Leon Moody & Sons Inc. to immediately cease and desist from holding itself out as a licensed mortgage broker as well as to cease and desist from deceiving and defrauding homebuyers by fraudulently using VRML’s license and NMLS number.
CryptoHeap.com
07/03/2024
A Request for a Cease and Desist Order directing CryptoHeap.com, an unregistered issuer of securities, to immediately cease and desist from the fraudulent and unregistered offer and sale of securities, as well as to cease and desist from all money transmitter activity in Arkansas until properly licensed and registered.
Legal Opinions
ALCOVA Mortgage
06/19/2023
A request for the Department to issue a no action letter regarding compliance requirements of adverse action notices required by Ark. Code Ann. § 4-93-104(a)(4).
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.
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.