Senator proposes to cut pay of Securities Commissioner Heath Abshure | Arkansas Blog

Tuesday, February 25, 2014

Senator proposes to cut pay of Securities Commissioner Heath Abshure

Posted By on Tue, Feb 25, 2014 at 10:36 AM

click to enlarge AT ODDS: Commissioner Abshure and Stephens Inc. investment firm. - ARKANSAS BUSINESS
  • Arkansas Business
  • AT ODDS: Commissioner Abshure and Stephens Inc. investment firm.
Funny business is piling up in the special language subcommittee of the legislature — where substantive law changes can be tacked onto bills without meaningful debate or House/Senate action — and also in Joint Budget, where member amendments can do similar clandestine harm.

One example this morning: Republican Sen. Bryan King is advancing, coincidentally or otherwise, the Stephens Inc. financial empire campaign against Securities Commissioner Heath Abshure. King dropped an amendment this morning in Joint Budget — kept secret until the meeting — to cut Abshure's pay from $104,936 to $98,653.

Stephens has been on a tear against Abshure for his practice of accepting payments in lieu of fines for securities violations to the association of securities commissioners he once headed. Stephens has depicted this as a conflict of interest, though it's a practice that has been followed in other states. Abshure justifies it because of the educational benefits the state gets from the group. Stephens has also rooted out Abshure's failure to report on state financial disclosure forms the expenses paid by the association to its meetings. He has amended the reports.

The pay cut has been referred to Joint Budget's personnel subcommittee. Abshure said he wouldn't comment until the issue was before that subcommittee.

Background on the Stephens-Abshure dispute here from Arkansas Business. He believes it's related to larger philosophical disagreements on securities industry regulation. The industry prefers self-regulation. Abshure has been critical.


Tags: , , , , ,

From the ArkTimes store

Favorite

Comments (5)

Showing 1-5 of 5

Add a comment

 
Subscribe to this thread:
Showing 1-5 of 5

Add a comment

More by Max Brantley

Readers also liked…

  • Al Gore remembers Dale Bumpers

    Former Vice President Al Gore, a former U.S. Senate colleague of Dale Bumpers, sent a statement on Bumpers' death Friday:
    • Jan 3, 2016
  • Today in Trump: Obstruction of justice anyone?

    It's the New York Times with the news today. Fired FBI Director James Comey kept notes of his talks with Donald Trump. A memo he wrote in February after a meeting with Trump said the president asked him to shut down the investigation into Michael Flynn, his former national security adviser.
    • May 16, 2017
  • In Little Rock, Marco Rubio sells American exceptionalism

    This is Rubio's axiomatic answer to Donald Trump's insistence that he and he alone will Make America Great Again: America is the greatest, always has been.
    • Feb 22, 2016

Most Shared

  • Take yourself there: Mavis Staples coming to LR for Central High performance

    Gospel and R&B singer and civil rights activist Mavis Staples, who has been inspiring fans with gospel-inflected freedom songs like "I'll Take You There" and "March Up Freedom's Highway" and the poignant "Oh What a Feeling" will come to Little Rock for the commemoration of the 60th anniversary of the desegregation of Central High.

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation