Eric Munson was named as the new commissioner of the Arkansas Securities Department, a division of the Department of Commerce. He will replace Edmond Waters, who served as commissioner since February 2015.
“I am thrilled to have Eric here at the Arkansas Department of Commerce as Commissioner of the Arkansas Securities Department,” said Secretary of Commerce Mike Preston, who announced Munson’s appointment. “He brings a great deal of experience in the public and private sectors working in both the securities and financial services arena.”
Munson will begin his new role on Monday, May 18.
“It is an honor to serve as Arkansas Securities Commissioner and join the Commerce team,” said 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.”
Munson comes to the Department of Commerce with over a decade of experience in the financial services industry. He was formerly an investment banker at Stephens Inc. in their public finance department as a financial advisor, underwriter and placement agent for Arkansas municipal bond issues. He also was a financial consultant and registered representative at Smith Barney (now JP Morgan).
Munson served as Senior Vice President and Director of Legislation and Regulation for the Arkansas Bankers Association (ABA) where he oversaw the association’s government relations program.
The Arkansas Securities Department is charged with implementing and overseeing the Arkansas Securities Act, Arkansas Fair Mortgage Lending Act, the Arkansas Money Services Act, Arkansas Savings and Loan Act and the Arkansas Credit Union Act.
The department regulates the sale of securities, securities brokerage firms and their agents, state-registered investment advisers and their representatives, mortgage loan companies and their loan officers, money services companies and state-chartered credit unions and savings & loans.