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MARCO GAMBOA FAILED TO EMPLOY AN INDEPENDENT CONSULTANT AND FAILED TO HAVE AN INDEPENDENT CONSULTANT CONDUCT REVIEWS FOR COMPLIANCE WITH THE INVESTMENT ADVISORY ACTIVITIES WITHIN THE STATE OF TEXAS, IN VIOLATION OF THE ORDER AND THE UNDERTAKING.
Resolution
Order
Sanctions
Monetary/Fine
Amount
$5,000.00
Sanctions
Censure
Sanctions
Suspension
Sanctions
MARCO GAMBOA IS HEREBY REPRIMANDED.
Sanction Details
MARCO GAMBOA IS SUSPENDED FOR A PERIOD OF TEN BUSINESS DAYS FROM THE DATE THIS ORDER IS ENTERED BY THE SECURITIES COMMISSIONER. IN THE EVENT THAT MARCO GAMBOA'S REGISTRATION IS TERMINATED BEFORE THE END OF THIS PERIOD, THE SUSPENSION PERIOD WILL BE TOLLED FROM THE DATE THAT THE REGISTRATION WAS TERMINATED TO THE DATE WHEN THE REGISTRATION FOR MARCO GAMBOA IS AGAIN EFFECTIVE.
12/22/2005
Regulatory
Final
Initiated By
TEXAS
Allegations
FROM ON OR ABOUT JANUARY 1, 2003 TO ON OR ABOUT JUNE 30, 2005, MARCO GAMBOA HAD A PLACE OF BUSINESS LOCATED IN SAN ANTONIO, TEXAS, PROVIDED INVESTMENT ADVICE FOR COMPENSATION IN TEXAS TO THE CLIENTS OF GAMBOA CAPITAL MANAGEMENT, INC., AND WAS NOT REGISTERED WITH THE SECURITIES COMMISSIONER AS AN INVESTMENT ADVISER REPRESENTATIVE OF GAMBOA CAPITAL MANAGEMENT, INC.
Resolution
Order
Sanctions
Monetary/Fine
Amount
$2,000.00
Sanctions
REPRIMAND
Sanction Details
PURSUANT TO SECTION 23-1 OF THE TEXAS SECURITIES ACT, MARCO GAMBOA IS HEREBY ASSESSED AN ADMINISTRATIVE FINE IN THE AMOUNT OF $2,000.
Broker Comment
THE ORIGINAL FAILURE TO RENEW IAR REGISTRATION FOR MR. GAMBOA WAS AN ADMINISTRATIVE OVERSIGHT. AFTER THE INITIAL ORDER, THE FIRM WAS UNABLE TO LOCATE AN APPROPRIATE LOCAL CONSULTANT TO PROVIDE THE REQUIRED MONITORING. ALL REGISTRATIONS ARE NOW CURRENT AND THE FIRM IS BEING MONIOTRED BY AN INDEPENDENT CONSULTANT AS ORDERED. THE TWO WEEK SUSPESNION WILL OCCUR 1/15/2008 TO 1/28/2008.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.