It shall be grounds for disciplinary action under The Arkansas Casino Gaming Amendment of 2018, Arkansas Constitution, Amendment 100, and rules if any person shall, in connection with the purchase or sale of any security issued by a corporate licensee or a holding company, or in connection with any document required to be filed pursuant to this part or Amendment 100:

1. (1) Employ any device, scheme, or artifice to defraud;
2. (2) Make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading;
3. (3) Engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person where such device, scheme, artifice, statement, act, practice, or course of business relates to gaming or the revenues from gaming or gaming operations; or
4. (4) Cause any document, correspondence, filing, or statement containing materially untrue, incorrect, or misleading information to be made or filed with the Arkansas Racing Commission, regardless of whether said information has been made or filed with another regulatory agency.