Arlington Adviser Suspended For 150 Days Over Trading Practices

Texas Securities Commissioner John Morgan entered a Disciplinary Order on April 10 that suspended Kermit Gordon Gable Jr., an Arlington investment adviser representative, until Sept. 7.

In December, Gable applied for registration as an investment adviser representative of Fidelis FS LLC. The Order granted Gable’s registration but suspended him because of trading practices at his former firm, Cambridge Research Advisors Inc.

Cambridge Advisors permitted Gable to resign in November after he made improper trades in client advisory accounts and his personal account.

Gable didn’t comply with Cambridge Advisors’ requirements for block trading, a practice in which multiple orders for securities are aggregated to get the best terms for a group of clients.

Gable traded securities in his account in some of the block trades, but he failed to follow firm procedures to avoid conflicts of interest between his trades and his clients’ interests.