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      <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">SECURITIES
AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM
8-K</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT
REPORT PURSUANT</font></div>
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SECTION 13 OR 15(d) OF THE</font></div>
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EXCHANGE ACT OF 1934</font></div>
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14, 2010</font></div>
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of Report (Date of earliest event reported)</font></div>
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Capital Markets Corporation</font></div>
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Name of Registrant as Specified in its Charter)</font></div>
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or Other Jurisdiction of Incorporation)</font></div>
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Nineteenth Street North</font></div>
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VA 22209</font></div>
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of Principal Executive Office) (Zip Code)</font></div>
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312-9500</font></div>
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Telephone Number, Including Area Code)</font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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    <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item&#160;1.01
Entry into a Material Definitive Agreement.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On June
14, 2010, FBR Capital Markets Corporation (the &#8220;Company&#8221;) amended that certain
Professional Services Agreement, dated as of July 20, 2006, between the Company
and Crestview Advisors, L.L.C. (&#8220;Crestview&#8221;), as amended by that certain
Amendment No. 1 to Professional Services Agreement, dated as of September 19,
2008 (the &#8220;Professional Services Agreement&#8221;).&#160;&#160;The June 14, 2010
amendment, a copy of which is attached as Exhibit 10.1, provides that Crestview
has the right to elect to receive a portion of the annual advisory fee payable
under the Professional Services Agreement in restricted shares of the Company&#8217;s
common stock and/or options to purchase shares of the Company&#8217;s common stock, in
each case on terms that are substantially similar to the annual retainer terms
available to directors who are not employees of the Company or employees of an
affiliate of the Company, up to an amount equal to the lesser of (x) twice the
minimum annual retainer payable to such directors, and (y) Crestview&#8217;s full
advisory fee.</font></div>
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discussion of the relationship between Crestview and its affiliates and the
Company, see &#8220;</font>Certain Relationships and Transactions with Related
Persons&#8212;Repurchase Transaction and Sale of Remaining Shares&#8212;Amended and Restated
Voting Agreement among Crestview, Arlington Asset and Us&#8221; and &#8220;&#8212;Other
Transactions with Crestview&#8221; in our proxy statement filed with the Securities
and Exchange Commission on April 29, 2010.<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">&#160;</font></font></font></font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">&#160;</div>
        <div id="HDR">&#160;</div>
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9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Exhibit
10.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Amendment
No. 2 to Professional Services Agreement</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SIGNATURES</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
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<tr>
            <td valign="middle" width="33%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
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form8k061410.htm
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
June
14, 2010
Date
of Report (Date of earliest event reported)
FBR
Capital Markets Corporation
(Exact
Name of Registrant as Specified in its Charter)
Virginia
(State
or Other Jurisdiction of Incorporation)
001-33518
20-5164223
(Commission
      File Number)
(IRS
      Employer Identification No.)
1001
Nineteenth Street North
Arlington,
VA 22209
(Address
of Principal Executive Office) (Zip Code)
(703)
312-9500
(Registrant's
Telephone Number, Including Area Code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
¨
Soliciting
      material pursuant to Rule 14a12 under the Exchange Act (17 CFR
      240.14a-12)
¨
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
¨
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement.
On June
14, 2010, FBR Capital Markets Corporation (the "Company") amended that certain
Professional Services Agreement, dated as of July 20, 2006, between the Company
and Crestview Advisors, L.L.C. ("Crestview"), as amended by that certain
Amendment No. 1 to Professional Services Agreement, dated as of September 19,
2008 (the "Professional Services Agreement").  The June 14, 2010
amendment, a copy of which is attached as Exhibit 10.1, provides that Crestview
has the right to elect to receive a portion of the annual advisory fee payable
under the Professional Services Agreement in restricted shares of the Company's
common stock and/or options to purchase shares of the Company's common stock, in
each case on terms that are substantially similar to the annual retainer terms
available to directors who are not employees of the Company or employees of an
affiliate of the Company, up to an amount equal to the lesser of (x) twice the
minimum annual retainer payable to such directors, and (y) Crestview's full
advisory fee.
For a
discussion of the relationship between Crestview and its affiliates and the
Company, see "
Certain Relationships and Transactions with Related
Persons—Repurchase Transaction and Sale of Remaining Shares—Amended and Restated
Voting Agreement among Crestview, Arlington Asset and Us" and "—Other
Transactions with Crestview" in our proxy statement filed with the Securities
and Exchange Commission on April 29, 2010.
Item
9.01                      Exhibits
Exhibit
10.1                      Amendment
No. 2 to Professional Services Agreement
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned hereunto
duly authorized.
FBR
      Capital Markets Corporation
Date:
      June 14, 2010
By:
/s/
Bradley J.
      Wright
Bradley
      J. Wright
Executive
      Vice President and
Chief
      Financial Officer