Jeffrey Higgins Allegedly Misappropriated Funds Since 2007

Jeffrey Higgins (CRD# 2871443[1]), formerly a broker registered with Western International Securities, misappropriated customer funds, according to several investor disputes. MDF Law is investigating the former Baker City, Oregon financial professional for similar conduct. If you have concerns about your accounts, please contact us for a free consultation.

To learn more about the allegations against Mr. Higgins, continue reading. This post is based on his BrokerCheck profile, a Financial Industry Regulatory Authority (FINRA) resource accessed on September 5, 2024. 

Pending Disputes Allege Misappropriation

Two parties of investors filed disputes involving Mr. Higgins in August 2024. Both disputes allege the misappropriation of funds; one also alleges portfolio mismanagement, while the other alleges supervisory failures. The disputes, which remain pending, seek cumulative damages of $1.24 million. 

Past Dispute Alleged Suitability Violations

In 2023, another investor filed a dispute alleging that Mr. Higgins recommended unsuitable corporate bonds. The dispute alleged further that he misrepresented and omitted material facts regarding the products. His former member firm settled the dispute for $94,211.

Why Did FINRA Sanction Mr. Higgins?

The Financial Industry Regulatory Authority sanctioned Mr. Higgins in July 2024. As the regulator alleged in a Letter of Acceptance, Waiver, and Consent[2], it sent the former broker a request for information and documents in June 2024. The request was issued under FINRA Rule 8210, which empowers FINRA to require associated persons to provide information connected to matters under its investigation. In this case, FINRA’s inquiry stemmed “from an examination by FINRA’s National Cause and Financial Crimes Detection Programs following a regulatory tip.” It also sent him a request to provide on-the-record testimony. However, according to the AWC Letter, Mr. Higgins refused to comply with the requests. His refusal violated FINRA Rules 8210 and 2010, according to the AWC Letter. He consented to FINRA’s imposition of a bar from associating with any member firm in any capacity.

Western International Securities Fired Mr. Higgins

In June 2024, Western International Securities terminated Mr. Higgins’ registration with the firm. As a disclosure on his BrokerCheck report explains, the firm fired him during an investigation into his conduct. The investigation followed “his notification to the Firm that he had been misdirecting client investments and funds and misappropriating client investments and funds to his own use.” This conduct, according to the disclosure, began “in approximately 2007 at his prior broker-dealer firm, and… continued through to the current date.”

FINRA: Former WIS Broker Was Based in Baker City

Jeffrey Higgins launched his career as a broker in 1997. That was the year he registered with Financial West Group’s office in Baker City, Oregon, where he remained until 2017. He then joined Western International Securities’ office in Baker City, staying with the firm until his firing in June 2024. With 27 years of experience as a broker, he has completed six industry exams, including the Series 66 and the Series 31. 

At MDF Law, We Advocate for Investors

If you lost money working with Jeffrey Higgins, you may be able to file a FINRA arbitration claim to pursue damages. Call MDF Law to talk over your case with one of our expert investment fraud attorneys. We accept cases on a contingency basis—clients only pay a fee if they win—and we offer free consultations nationwide. Call 800-767-8040 today.