Arkansas regulates securities under the Arkansas Securities Act, enforced by the Arkansas Securities Department. The state requires registration of securities and maintains its own exemption framework that issuers must analyze separately from federal requirements.
Arkansas requires securities registration by coordination, qualification, or notification. Reg D Rule 506 offerings require Form D notice filing with the Arkansas Securities Department. Filing fee is $500, due within 15 days of first sale.
Understanding the core regulatory framework in Arkansas:
Securities must be registered by coordination, qualification, or notification before offer or sale
The Securities Department has broad investigative and enforcement authority
Anti-fraud provisions prohibit untrue statements of material fact and fraudulent business practices
Broker-dealers, agents, and investment advisers must register before conducting business
Arkansas provides the following exemptions from full securities registration:
Arkansas imposes civil penalties up to $10,000 per violation, criminal penalties including fines up to $10,000 and imprisonment up to 10 years, investor rescission rights, and administrative sanctions including cease-and-desist orders.
M&A transactions involving Arkansas-based companies or shareholders require compliance when stock is used as consideration. The state's filing requirements apply regardless of where the acquiring company is incorporated. Acquisition Stars handles notice filings for deals with Arkansas exposure.
Acquisition Stars handles blue sky compliance, M&A transactions, and securities offerings nationwide. Managing partner Alex Lubyansky provides direct counsel on every engagement.
Common questions about Arkansas blue sky laws and securities compliance
Our managing partner provides selective securities and M&A counsel for transactions involving Arkansas blue sky law compliance. Submit your transaction details for a preliminary assessment.
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