Tagged: arkansas securities department

Steele Stephens Could Still Face Fines over Shoffner Bribes

by Arkansas Business Staff 11/24/2014 12:00 am

Federal prosecutors gave Steele Stephens immunity from prosecution and let him keep the millions in bond sales commissions he received from the business relationship that resulted in the criminal conviction of former state Treasurer Martha Shoffner.

Former Voyager Financial Co-owner Sues After Payments Stop

by Arkansas Business Staff 5/26/2014 12:00 am

After getting stung by the Arkansas Securities Department, the Voyager Financial Group LLC of Little Rock is facing another mess involving its former co-owner.

Securities Department, Crain Clash Over Post-Shoffner Subpoena

by Arkansas Business Staff 5/5/2014 12:00 am

You may know that the Arkansas Securities Department is after W. David Crain, a CPA who worked for St. Bernard Financial Services Inc., the Russellville firm under fire for employing Steele Stephens, a broker who bribed former state treasurer Martha Shoffner.

Former Hot Springs Investment Adviser Fined $50,000

by Mark Friedman 4/29/2014 5:31 pm

Former Hot Springs investment adviser Michael Hazen Martin neither admitted nor denied engaging in fraudulent, deceptive nor unethical business practices but agreed to the fine.

Motivating Factors (Gwen Moritz Editor's Note)

by Gwen Moritz 4/21/2014 12:00 am

My high school journalism teacher taught me about five Ws and an H — who, what, when, where, why and how. Approximately 1,000 years later, I’ve concluded that that fifth W is the most problematic.

Stephens Inc.'s Ethics Complaint Against Heath Abshure Dismissed

by Gwen Moritz 3/26/2014 11:36 am

The Arkansas Ethics Commission voted 4-0, with one member not present, to dismiss the complaint against Arkansas Securities Commissioner Heath Abshure that Stephens General Counsel David Knight filed in November. Abshure says he never saw any gray area in the settlements that included donations to NASAA.

Proposed Change in State Securities Law Out of Step With Neighboring States

by George Waldon 3/10/2014 12:00 am

Arbitration clauses and courtroom avoidance are common in the securities business. That norm stands in contrast to a not-so-modest proposal by Stephens Inc. to go straight to a judge to rule on enforcement actions by the Arkansas Securities Department.

Rogue Broker at Stephens Inc. Caused Penalty, $1.9M Claim

by George Waldon 2/17/2014 12:00 am

Lost in the political fracas between the Arkansas Securities Department and Stephens Inc. is the event that started it all: a customer complaint against a former Stephens stockbroker, William Wayne LaRue.

Workers’ Financial Education a Concern

by Gwen Moritz 10/14/2013 12:00 am

Americans are notoriously ignorant about basic personal finance, and Arkansans are even less financially savvy than the national average, according to a nationwide study conducted by the FINRA Investor Education Foundation.

Chad Niell, Candidate for Arkansas State Senate, Pays $21K Fine

by Associated Press 9/22/2013 5:20 pm

A Republican candidate for a state Senate seat in Jonesboro says he paid a $21,000 fine for his company's violation of the Arkansas Money Services Act.

Uh-oh: Cold Call to Arkansas Securities Examiner Lands NY Broker in Hot Water

by Gwen Moritz 8/29/2013 9:17 am

A young New York broker-dealer made an unfortunate cold call filled with blustery claims and ended up having his Arkansas registration revoked.

Stephens Inc. Fined $25,000 by State Regulator

by Gwen Moritz 8/22/2013 4:23 pm

Arkansas Securities Commissioner Heath Abshure fines Stephens Inc. $25,000 for failing to properly supervise agents who sold leveraged and inverse exchanged traded funds in 2008 and 2009.

A. Heath Abshure: Don't Let Embarrassment Get In the Way of Reporting an Investment Scam

by Arkansas Business Staff 7/22/2013 12:00 am

A. Heath Abshure was appointed to lead the Arkansas Securities Department by Gov. Mike Beebe in December 2007. In this week's Executive Q&A, he talks about crowd funding regulations, common complaints and what to do if you think you've been scammed.

Hot Springs Developer Ordered to Stop Selling Securities

by Mark Friedman 2/26/2013 12:37 pm

The Arkansas Securities Department ordered Hot Springs real estate developer Rodney Myers on Monday to stop selling securities after he allegedly misused $50,000 he received from an investor.

Arkansas Securities Department Issues Cease and Desist in Fraud Investigation

by George Waldon 2/21/2013 1:41 pm

A cease and desist order was issued Thursday against Money in the Bank Inc., Sun Vest LLC and James Banning of Hot Springs as part of a fraud investigation by the Arkansas Securities Department.

Securities Department Orders United States Oil & Gas Corp. to Stop Selling Notes

by Arkansas Business Staff 12/20/2012 2:42 pm

The Arkansas Securities Department orders United States Oil & Gas Corp. of New York to stop selling securities in the state.

A. Heath Abshure Named New President of North American Securities Administrators Association (Super Mover)

by Arkansas Business Staff 11/12/2012 12:00 am

In his new role as president of the North American Securities Administrators Association, Abshure said, he plans to focus on the organization’s response to the changing regulatory environment.

Morgan Keegan Fined, Ordered to Pay Restitution for Action of Former Agent

by Arkansas Business Staff 10/26/2012 3:12 pm

Morgan Keegan & Co. has agreed to pay a $15,000 fine and to reimburse an Arkansas couple nearly $45,000 for the actions of one of its former agents, Keith H. Freeman.