AR SB665

Amends the definition of "agent" under Arkansas Securities Act to clarify that an agent can either represent a broker-dealer or issuer in effecting securities transactions, or supervise individuals who effect such transactions.

Revises civil liability provisions to establish that persons offering or selling securities in violation of state law or by means of untrue statements or material omissions are liable to buyers for consideration paid, interest at 6% per year, costs, and attorney's fees.

Creates liability for persons who purchase securities in violation of state law or through fraudulent means, allowing sellers to recover consideration, the security itself or its value, interest at 6%, costs, and attorney's fees.

Establishes separate liability framework for persons providing investment advice, including liability for violations of registration requirements and for fraudulent or deceptive conduct in providing advice.

Modifies covered securities filing requirements to reference updated provisions of the Securities Act of 1933, requires filing of SEC Form D within 15 days of first sale, and establishes fees of 0.1% of maximum offering price (minimum $100, maximum $500).