August 2021- Bolton, MA
According to publicly available records, Brett Briggs a broker currently employed by Western International Securities, Inc. discloses 5 regulatory events and 5 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In November of 2020, in FINRA case #2017054755207 , without admitting or denying the findings, Briggs consented to the sanctions and to the entry of findings that he failed to supervise registered representatives of his member firm, who excessively traded and recommended qualitatively unsuitable trades involving options, low-priced securities, and Non-Traditional Exchange Traded Products (ETPs) in accounts belonging to customers. The findings stated that Briggs failed to investigate red flags indicative of trading misconduct and take appropriate action in a manner reasonably designed to ensure that the representatives acted in compliance with FINRA rules. Briggs was aware of but failed to, investigate and address specific red flags indicating misconduct and suggestive of excessive trading. Briggs earned commission overrides of more than $52,000 on the excessive trading.
FINRA permanently barred Briggs from acting in any principal capacity and assessed a fine of $20,000 and ordered restitution in the amount of $52,432.
Briggs has been employed by Western International Securities since 8/2017. Prior to that he was employed by Financial West Group from 1/2008-8/20217.
If you have losses in an account handled by Brett Briggs, call to learn how you may be able to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
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