Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals that securities broker Jeffrey Thomas Higgins [CRD: 2871443, Baker City, Oregon] has been barred as a securities broker. Higgins worked for Western International Securities Inc. from August 21, 2017, to June 27, 2024. Notably, Higgins’ failure to cooperate with a FINRA investigation into potential misappropriation of client funds led to his bar as securities broker. Keep reading to learn more about the disputes and allegations surrounding Higgins.
Higgins disclosed client disputes containing allegations of misappropriation of funds, with some investors alleging portfolio mismanagement and failure to supervise. These disputes, which are all pending, include an August 2024 case where the client is seeking $1,000,000 for alleged misappropriation and portfolio mismanagement. Another case from August 2024 alleged failure to supervise and misappropriation, with damages requested at $240,000. Additionally, a July 2024 dispute, which was denied, involved a claim of unsuitable investment recommendations with a request for $134,000 in damages.
On July 1, 2024, FINRA barred Jeffrey Higgins from associating with any FINRA member due to his failure to comply with FINRA Rule 8210, which calls for brokers’ cooperation with requests for testimony and documents. The investigation began after a regulatory tip to FINRA suggested that Higgins may have misappropriated client funds. FINRA requested Higgins’ appearance for testimony and production of documents on June 24, 2024, but Higgins refused, leading to the bar.
Also, a client of Western International Securities Inc. accused Jeffrey Higgins of making unsuitable recommendations, misrepresentations, and nondisclosures regarding the sale of corporate bonds. FINRA Arbitration No. 23-01658 was settled for $94,211 in March 2024.
Evidently, Western International Securities Inc. disaffiliated with Jeffrey Higgins on June 21, 2024, citing allegations of misappropriation of client investments and funds for personal use.
To learn more about your potential rights, contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. Higgins and Western International Securities deny all accusations. Soreide Law Group has experience representing investors throughout the country and handles cases on a contingency basis.
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