A new commissioner for the Arkansas Securities Department has been named. Arkansas Secretary of Commerce Mike Preston has named Eric Munson as the new commissioner.
Munson will be taking over the role from Edmond Waters, who held the commissioner position since February 2015.
He is set to begin serving as the Arkansas Securities Department commissioner on May 18.
“I am thrilled to have Eric here at the Arkansas Department of Commerce as Commissioner of the Arkansas Securities Department,” Preston said in a statement. “He brings a great deal of experience in the public and private sectors working in both the securities and financial services arena.”
Previously, Munson served as an investment banker at Stephens Inc., in the firm’s public finance department. He also served as senior vice president and director of legislation and regulation for the Arkansas Bankers Association (ABA).
“It is an honor to serve as Arkansas Securities Commissioner and join the Commerce team,” said Eric Munson. “My responsibilities will be to implement and oversee the Arkansas Securities Act while putting Main Street investors first. It would be my objective to protect and inform the investing public, while promoting integrity, fairness, and full disclosure in all financial transactions. I plan to ensure a free and competitive securities market for Arkansas, increase investor confidence, and thereby encourage the formation of capital and the creation of new jobs in Arkansas.”
The Arkansas Securities Department oversees the regulation of the state’s securities industry. Modern-day securities regulation was established by Act 254 of 1959. The department was placed under the Division of Commerce, as part of Gov. Asa Hutchinson’s government transformation effort.