AR SB151

Amends registration filing fees under the Arkansas Securities Act by adding exempt reporting advisers and investment advisers to private funds as entities required to pay a $300 filing fee.

Changes filing fee language from "any A filing fee shall be" to "A filing fee is" nonrefundable after an application has been processed in whole or in part.

Modifies examination fee language to clarify that applicants, issuers, broker-dealers, or investment advisers pay up to $150 per examiner per day "during which examiners are absent from the office of the commissioner" to "is conducted."

Establishes comprehensive protections for vulnerable adults (age 65+, under Adult Protective Services supervision, or susceptible to financial exploitation) from financial exploitation by securities professionals.

Allows broker-dealers and investment advisers to delay disbursements or transactions from vulnerable adult accounts for up to 15 business days (extendable to 25 days with agency request) if financial exploitation is suspected, with immunity from liability if acting in good faith.