Category Archives: BrokersXpress LLC

Kermit Gable, Jr.-Former Cambridge Investment Research Broker-Sanctioned by Texas Regulator-Arlington, TX

January 2018-Arlington, Texas 

The FINRA records of Kermit G. Gable, Jr. ,  a  stockbroker who previously worked for Cambridge Investment Research , disclose a recent regulatory event and a separation from employment.

In November 2016 Gable was ‘permitted to resign’ from Cambridge Investment Research due to improper trading in client advisory accounts.

In April 2017, the Texas State Securities Board (TSSB) suspended Gable for 150 days. According to the TSSB, during the relevant time period, Gable entered a significant number of trades in a block trading account as part of an active trading strategy, but failed to prepare a written statement identifying the accounts that would participate in each trade prior to entering the trade in the block trading account.

This failure to properly document which clients would participate in the block trades constitutes an inequitable practice, according to the TSSB.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Gable  was employed by Cambridge Investment Research from 2/2012-12/2016. Prior to that he was employed by BrokersXpress in Richardson, TX. Gable discloses a business affiliation with Fidelis Financial Services in Arlington, TX. He is not currently registered as a broker.

If you have questions about an account handled by Kermit G. Gable, Jr. , call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Lubbock Broker Tracy Spaeth Charged with Securities Fraud

 

In October 2013, Tracy Morgan Spaeth of Lubbock , TX,  was arrested and charged with fraudulent sale of more than $100,000 in securities.  Texas Securities Commissioner John Morgan suspended Spaeth’s investment adviser registration in May 2013 and ordered him to pay back more than $90,000 in commissions. The suspension is in connection with the sale of interests in a private offering by an Arizona investment group, Hampton Capital Markets.
Hampton was offering a “low latency arbitrage strategy” that supposedly exploited inefficiencies in the prices of leveraged index exchange-traded funds by extremely high speed trading executions and touted returns of 10-50% according to the Texas State Securities Board. Spaeth, who most recently was owner of Uncommon Wealth Management, recommended that 31 clients invest in Hampton from July to September 2011.
The sale of more than $100,000 in fraudulent securities is a first degree felony and carries a potential prison sentence of life, or from 5 to 99 years.
Spaeth’s official records on the FINRA BrokerCheck website indicate that he was registered with the following broker dealers during the time periods indicated:
  • BrokersXpress LLC 7/2009-12/2010
  • LPL Financial  11/1999-7/2009
If you have questions about the way your brokerage account has been handled or feel you are the victim of securities fraud or negligence, call to discuss your legal rights.

Rex Securities Law , located in Boca Raton, FL, provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900