Barksdale Fined $5,000 by National Association of Securities Dealers

by Arkansas Business staff  on Monday, Aug. 2, 2004 12:00 am  

As the Wall Street Journal noted last week, Alan Barksdale of Little Rock was recently fined $5,000 and suspended from brokering stock for 31 days by the National Association of Securities Dealers.

His suspension ended June 16, and he has returned to work at Crews & Associates — where he started his securities career in 2002 but not where the alleged violation occurred.

Barksdale's offense, which he neither admitted nor denied in agreeing to the fine and suspension, was described in very general terms by the NASD: "[H]e solicited an attorney to make contributions to public officials so that the attorney might receive favorable consideration as bond counsel on future issues of municipal securities while Barksdale's member firm was engaging in municipal securities business with the issuer."

Barksdale, a former University of Arkansas at Little Rock basketball player, couldn't be reached for comment.

Crews & Associates President Rush Harding III said the incident happened during the few weeks last fall when Barksdale was working for Stephens Inc. in his hometown of Baton Rouge and involved a Louisiana lawyer.

When the lawyer complained, Stephens immediately terminated Barksdale and reported the violation to the NASD. A few weeks later, Crews & Associates agreed to take him back provided he get square with the NASD.

"Alan was an exemplary employee during this initial time with Crews & Associates, and I'm glad he has that problem behind him and has settled it to the satisfaction of the NASD," Harding said.

Stephens spokesman Frank Thomas had no comment.



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