Jeffrey Thomas Higgins, of Baker City, Oregon, a stockbroker registered with Western International Securities Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacities because Higgins did not appear for testimony and refused to produce documents and information that FINRA requested during its investigation into Higgins’ potential misappropriation of customer funds. Letter of Acceptance, Waiver, and Consent No. 2024082541001 (July 1, 2024).
According to the AWC, FINRA’s National Cause and Financial Crimes Detection Programs received a regulatory tip concerning Higgins, prompting an investigation. On June 24, 2024, FINRA sent Higgins a request for documents and information under FINRA Rule 8210. Additionally, on the same date, FINRA sent Higgins a request to appear for testimony. Higgins informed FINRA that he received its requests but would not produce the documents and information requested at any time, and he would not testify. Therefore, Higgins violated FINRA Rules 8210 and 2010.
FINRA Public Disclosure shows that Higgins was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $94,211.00 in damages based upon allegations that Higgins made unsuitable recommendations, misrepresentations, and omissions in connection with the sale of corporate bonds when Higgins was associated with Western International Securities Inc. FINRA Arbitration No. 23-01658 (March 18, 2024).
Higgins was associated with Western International Securities Inc. in Baker City, Oregon, from August 21, 2017, to June 27, 2024. Higgins was discharged by the securities broker dealer on June 21, 2024, based upon allegations that he misappropriated customer investments and funds to his own use.
