# Arkansas Securities Department The Arkansas Securities Department (ASD) is the state regulatory agency responsible for broker-dealer registration, securities-industry oversight, and investor-protection enforcement under the Arkansas Securities Act. ASD is led by [[eric-munson]] as Securities Commissioner. ASD is significant to the Israel Bonds investigation as the regulatory custodian of Development Corporation for Israel's Arkansas broker-dealer registration (CRD #11148). DCI's Arkansas registration is documented at [[dci-arkansas-limited-registration]] as restricted to "BONDS FOR THE STATE OF ISRAEL" effective June 25, 1984 — a single-issuer scope shared with North Dakota and Arizona. The 1986 Arkansas Securities Department suspension of DCI under Order 86-27-S for failure to designate a principal (vacated July 22, 1986 by Order 86-27a-S after DCI provided proper documentation) is documented at [[dci-1986-arkansas-suspension]]. ASD's broader oversight of DCI's FINRA Current Disclosure Summary record of four occurrences is documented at [[dci-finra-disclosure-events]]. The 4/20/2026 ASD FOIA production at [[securities-foia-r1-4-20-26]] (155 files, Web CRD records dump on DCI) provides the registration-status, filings history, ownership structure, disclosure events, custody arrangements, registered agents, and 1986 Arkansas suspension orders covering the full documented history of DCI's Arkansas broker-dealer presence. ## Cross-References [[eric-munson]] Securities Commissioner [[development-corporation-for-israel|Development Corporation for Israel]] [[lawrence-berman]] regulated entity and key principal [[dci-arkansas-limited-registration]] [[dci-1986-arkansas-suspension]] [[dci-finra-disclosure-events]] concept pages [[securities-foia-r1-4-20-26]] source page