Timothy Patrick Higgins (also known as Tim Higgins) of Garden City New York a stockbroker formerly registered with Spartan Capital Securities LLC is referenced in a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages supported by accusations that unauthorized and excessive trades were effected in the customer’s account when Higgins was employed by Spartan Capital Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03892 (May 7, 2020). According to the claim, options and stocks were in no way suitable for the customer and the stockbroker’s transactions were executed in breach of contract.
Higgins has been referenced in eight more customer initiated investment related disputes involving allegations of his violative conduct while employed by securities broker dealers including Continental Broker Dealer Corporation, Wexford Clearing Services Corporation and Oppenheimer Co. Inc. FINRA Public Disclosure reveals that a customer initiated investment related arbitration claim involving Higgins’s conduct was settled for $123,170.00 in damages supported by accusations of churning by the stockbroker and transactions having been effected in the customer’s account on an unsuitable and unauthorized basis.
Higgins is identified in another customer initiated investment related arbitration claim which was settled for $250,000.00 in damages based upon allegations that unsuitable securities were sold to the Continental Broker Dealer Corporation customer. Another customer initiated investment related arbitration claim involving Higgins’s conduct was settled for $130,000.00 in damages supported by accusations of sales practice violations by the stockbroker which resulted in the customer’s losses.
Higgins is also the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that Higgins invested the customer’s portfolio in over-the-counter equities that failed to be suitable for the customer during the time that he was associated with Continental Brokerage Dealer Corporation. Another customer initiated investment related arbitration claim involving Higgins’s conduct was settled for $9,000.00 in damages founded on accusations of his inappropriate mutual fund transactions.
Higgins has also been censured by The State of Missouri according to an Order containing findings that Higgins concealed customer complaints while registered with Continental Broker Dealer Corporation. AP-04-94. The stockbroker was prohibited from registering in Missouri for eight years and had been ordered to cease and desist violating Missouri laws.
Higgins’s registration with Spartan Capital Securities LLC has been terminated as of July 7, 2020.
