Ladle 1 cup stock into rice and mix until all stock is absorbed, add another ladle, and continue adding and stirring until all broth is absorbed, about 20-25 minutes. Add Parmesan cheese and parsley, mix well and keep warm.
Meanwhile, wash scallops and pat dry with a paper towel. Season with salt and pepper. Heat a medium size pan on high. When pan is hot, melt 2 tsp butter and place half of the scallops in the pan. Sear without touching them for a few minutes until the bottom forms a nice caramel colored crust. Turn over and cook about another minute or 2, until the center is slightly translucent (you can check this by viewing them from the side) and the bottom is seared. Be careful not to overcook. Remove from the pan and set aside on a warm plate. Add remaining butter and cook remaining scallops.