Kibble Settles With SEC Over Market Timing Charges

Another mutual fund market timing case has come to an end. The former director of operations at broker-dealer National Clearing Corp., Kraig L. Kibble, has settled with the SEC over allegations that he played a role in enabling NCC’s institutional clients to late-trade and market-time of mutual fund shares. The SEC initially filed a civil fraud complaint in 2004 against NCC and its parent company, JB Oxford Holdings Inc., claiming that the company helped certain clients make thousands of market timing and late trades in more than 600 mutual funds between June 2002 and September 2003. But we’ll never know if Mr. Kibble was guilty: Without admitting of denying anything, Kibble agreed to be barred from the broker-dealer industry for four years, after which time he can apply for reinstatement.
Kibble Settles With SEC [Hedge World]

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