Arkansas Securities Department

Arkansas Securities Department

The Arkansas Securities Department is responsible for the regulation of the securities’ industry in the state, to protect the financial well being of Arkansas citizens, and promote an environment where the financial and capital markets function efficiently and without unnecessary regulatory impediments. The Arkansas Securities Department regulates broker dealer firms, check issuers, foreign savings and loan banks, investment advisors, mortgage loan companies and loan brokers, mutual funds, securities exemptions, securities registrations, perpetual care cemeteries, state chartered credit unions, and state chartered savings and loan associations. The Arkansas Securities Department is responsible for the registration of securities’ brokerage firms, their salesmen, and the securities they sell, such as stocks, bonds, and mutual funds. To protect the Arkansas investor, the Arkansas Securities Department is responsible for the investigation of investor complaints and the enforcement of Arkansas securities’ statutes and rules.

Investor Education Program

In 1998, the Arkansas Securities Department implemented the Investor Education Program, a public education initiative to inform Arkansas citizens regarding investing and securities. Initially available to community, civic and senior groups, the program was expanded to include middle and secondary schools in 2000. The school program is a multi-media presentation designed to teach students about the stock market, securities and investing through the various securities markets.

Investor Education Grant Program

With the passage of Acts 39 and 948 of 2003, the Arkansas Legislature appropriated funds for a grant-award program administered by A. Heath Abshure, Arkansas Securities Commissioner. For 2003-2004, the grants were made available to programs in Arkansas for the purpose of providing securities/investment education to teachers and students about the securities industry, the stock markets, and investment decision-making. Grant proposals will be considered for only these areas. New grants are to be awarded for the 2009-2010 school year. A final report of the project will be required.

Eligible applicants are public schools and non-profit groups (IRC § 501(c)(3) tax-exempt organizations) that provide investment education to students in grades 5 through 12. For the first year of the program, 2003-2004, six grants were awarded totaling $35,000. For the 2004-2005 school year, eleven grants totaling $57,795 were awarded. Eight grants totaling $34,971 were made for the 2005-2006 school year. For the school year 2006-2007, 10 grants totaling $35,261 were awarded. The amount of $50,000 was awarded to 13 schools for the 2007-2008 school year. For the 2008-2009 school year, seventeen grants totaling $49,750.00 were awarded.  The suggested grant request range is between $2500 and $5000 although grant proposals for more or less than the suggested range will be considered. The Commissioner will determine the grant award based upon the merit of the program, other school resources and the number of students educated. The proposal due date is October 1, 2009. Grant awards will be issued by November 2, 2009.

Use of Grant Funds

Grant funds may be used to purchase any appropriate educational, resource, software materials and equipment.

Grant Application Process

The grant application should be submitted by letter to A. Heath Abshure, Arkansas Securities Commissioner, and be no more than 3 pages long, excluding attachments. The letter should include the following:

School/Organization letterhead and signed by a school/management official

1. Contact information for the project leader/principal contact person
2. A brief description of the school/organization and past securities/investment education
3. Proposed Project Description
   1. Educational need this project will address, including student population description
   2. Learning objectives for students
   3. Specific description of the project, including project period, classroom/instruction time dedicated to the project, learning activities, benefit to be gained from the success of the project.
4. Description of measurable project outcomes
5. Other school resources that will be dedicated to the project
6. Attachments:
   1. Itemized project budget (must total amount requested)
   2. IRS 501(c)(3) status determination letter (if applicable)

If any of the above items are not submitted, the submission will be deemed incomplete and declined from consideration.

Final Report

The project period will expire no later than March 31, 2010.

Within 30 days of the project’s completion, the final report must be submitted to Commissioner Abshure. The final report must include measurable project outcomes and a financial accounting of actual program expenditures. Failure to submit either the outcome report or the financial report will forfeit future grant award consideration.

Submit your letter of grant proposal with attachment(s) to:

A. Heath Abshure
Commissioner
Arkansas Securities Department
Heritage West Building, Suite 300
201 East Markham Street
Little Rock, Arkansas 72201-1692

Inquiries should be addressed to:

Zoe Rossi, Investor Education Coordinator
(501) 324-8682
ethel.rossi@securities.arkansas.gov