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.


 

Share
Published by
Staff

Recent Posts

San Marcos City Council reviews Sidewalk Maintenance and Gap Infill Program

The San Marcos City Council received a presentation on the Sidewalk Maintenance and Gap Infill…

2 years ago

San Marcos River Rollers skate on and rebuild

The San Marcos River Rollers have skated through obstacles after taking a two-year break during…

2 years ago

After 8 Years, San Marcos Corridor News Bids Our Readers Farewell

San Marcos Corridor News has been reporting on the incredible communities in the Hays County…

2 years ago

High bacteria levels at Jacobs Well halts swimming season

Visitors won't be able to swim in the crystal clear waters of the Jacobs Well Natural…

2 years ago

Pets of the Week: Meet Sally & Nutella!

Looking to adopt or foster animals from the local shelter? Here are the San Marcos…

2 years ago

Texas still leads in workplace deaths among Hispanics

The Lone Star State leads the nation in labor-related accidents and especially workplace deaths and…

2 years ago

This website uses cookies.