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Arkansas

Arkansas Securities Licensing (2026): Exams & Registration

Understand Arkansas securities license requirements for broker-dealers, agents, investment advisers, and IARs. Get steps, fees, and exemptions for AR.

By PermitByState Editorial Team · Editorial
Verified June 7, 20265 statute sources
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ArkansasSecurities / blue sky licensing
#21 of 50·0 state statutes cited·Above median

Quick Answer: Arkansas Securities Licensing Overview

Arkansas requires broker-dealers, agents, investment advisers, and investment adviser representatives to register with the Arkansas Securities Department (ASD) under the Arkansas Securities Act (ACA § 23-42-101 et seq.). Registration typically involves filing through FINRA's CRD or NASAA's IARD systems, passing required exams, and submitting to background checks. Specific fees, AUM thresholds, and exemptions apply. You must verify these details directly with the ASD.

The Arkansas Securities Department (ASD) is the primary regulator for securities professionals operating in the state. If you sell securities, manage client money, or give investment advice to Arkansas residents, you almost certainly need a state-issued license, a federal registration, or both.

Arkansas securities law is codified in the Arkansas Securities Act (ACA § 23-42-101 et seq.). That statute establishes four main categories of licensees:

  • Broker-Dealers: Firms that buy or sell securities for their own account or for customers.
  • Agents: Individuals (registered representatives) who act on behalf of a broker-dealer or issuer.
  • Investment Advisers (IAs): Firms or individuals compensated for advising others.
Sources & Verification (5)
  • Investment Advisers Act of 1940 (15 U.S.C. §80b-1 et seq.) — federal IA registration framework; firms under $100M AUM generally state-registered (NSMIA §203A).
  • Securities Exchange Act of 1934 (15 U.S.C. §78a et seq.) — broker-dealer regulation, anti-fraud, and SEC supervisory authority.
  • National Securities Markets Improvement Act of 1996 (NSMIA, Pub. L. 104-290) — preempts state registration of federal covered advisers and securities; states retain anti-fraud.
  • Uniform Securities Act (NASAA model) — adopted with variations by most states; governs IAR registration, blue sky filings, and exemptions.
  • FINRA Series 65 / 63 / 66 / 7 — uniform state and federal exams administered via Prometric; pass scores and content outlines published by NASAA/FINRA.

Last verified: June 7, 2026

Editorial process: See methodology →

How we verify: 9 source adapters (FAA, DSIRE, IRS, OpenStates, etc.) → AI draft → AI editor → AI polish → spot human review.

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