Kelly Ray Moore, of Houston, Texas, a stockbroker formerly affiliated with Cambridge Investment Research Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Moore did not comply with a request for information during a regulatory investigation. Letter of Acceptance, Waiver, and Consent No. 2023079506301 (April 1, 2025).
According to the AWC, the regulatory matter arose after LPL Financial LLC, Moore’s former employer, filed a termination notice (Form U5) on August 8, 2023. The firm stated that Moore had been discharged due to a disagreement over his short-term trading in Class A mutual funds. FINRA stated that these types of funds are generally designed to be held long-term, and frequent trading of them can create higher costs for customers, raising potential compliance concerns.
As part of its follow-up inquiry into these trading activities, FINRA sent Moore a formal request on February 4, 2025, asking him to provide specific documents and information. This request was made under FINRA Rule 8210, which requires stockbrokers under its oversight to cooperate with investigations.
Moore, through his attorney, confirmed to FINRA that he had received the request but would not be turning over the materials. By choosing not to respond, Moore violated FINRA Rules 8210 and 2010.
Moore was associated with LPL Financial LLC in Houston, Texas from May 23, 2019 to August 8, 2023. He was associated with Cambridge Investment Research Inc. in Houston, Texas from July 13, 2023 to April 14, 2025.
