Timothy Patrick Higgins (also known as Tim Higgins), of Garden City, New York, a stockbroker registered with Spartan Capital Securities LLC, is the subject of a Financial Industry Regulatory Authority (FINRA) enforcement decision where he was permanently barred when he failed to testify in connection with a FINRA investigation of is conduct. FINRA Enforcement Action No. 2018056490303 (June 17, 2022).
According to the Decision, Higgins came to the attention of FINRA staff during an examination of Spartan Capital Securities, LLC in 2018. The examination focused on possible excessive trading and churning by the firm’s registered representatives. FINRA staff subsequently found evidence indicating that Higgins may have traded excessively in two customer accounts from January 2017 to August 2019.”
Spartan Capital Securities terminated Higgin on July 7, 2020. As a result of the examination, FINRA found evidence that Higgins excessively traded the accounts of his customers.
FINRA then sent Higgins a request to provide testimony on April 13, 2022. FINRA did not receive a response from Higgins. A second request was sent to Higgins to appear for testimony, which was to be held on May 3, 2022. Higgins did not respond to the second request, nor did he appear to give testimony at any time. As a result, Higgins violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Higgins has been the subject of at least ten (10) disclosed customer initiated complaints or FINRA securities arbitration proceedings involving his conduct, and was also fined $1,100.00 and censured by the Missouri Securities Commissioner based upon allegations that Higgins failed to disclosed a series of customer complaints alleging churning, unauthorized trading and other misconduct. Case No. AP-04-94 (Jan. 4, 2005).
Timothy Higgins was associated with Spartan Capital Securities LLC from April 24, 2015 to July 7, 2020.
