Brett Briggs (CRD #: 1226255), a broker registered with Western International Securities, has been barred by FINRA, according to his BrokerCheck record, accessed on December 22, 2020. Details of FINRA’s action along with descriptions of his previous disclosures are provided below.
On November 17, 2020, Brett Briggs was barred by FINRA, following allegations that he failed to supervise registered representatives. The allegations state that from 2013 to 2017, Brett Briggs served as a supervisor of Financial West. During that time, FINRA alleges that Briggs failed to investigate red flags that suggested misconduct by four Financial West registered representatives. FINRA further alleges that Briggs was aware of the red flags. The representatives’ misconduct allegedly included recommending risky securities, such as Exchange-Traded Products, options, and low-priced securities. Firms have a duty to supervise their registered representatives and should prevent brokers from recommending securities that do not fit their customer’s financial goals.
FINRA sanctions against Briggs included a civil penalty of $20,000 and a restitution payment of $52,432.81. You can read a copy of the AWC here.
Briggs has other customer disputes on his license. For example, on June 22, 2009, a client amended a dispute to add Briggs as a respondent. The client sought $25,000; the dispute settled for $3,000.
On June 22, 2009, a client amended a dispute to add Briggs as a respondent. The client sought $100,000; the dispute settled for $12,000.
On April 21, 2006, a client alleged that Brett Briggs executed unauthorized trades, recommended unsuitable investments, and engaged in fraud. The client sought $1,150,000; the dispute entered into arbitration and settled for $2,529. You can read a copy of the arbitration here.
On January 28, 2003, a client alleged that Brett Briggs engaged in activity that resulted in losses. The dispute settled for $40,000.
On September 27, 2002, a client alleged that Brett Briggs was negligent and failed to supervise. The client sought $540,698; the dispute settled $17,850.
On May 18, 1994, the Ohio Division of Securities denied an application for license, after an allegation related to Briggs’ “lack of good business repute.”
The National Association of Securities Dealers has imposed two fines on Brett Briggs, totaling $15,000.
Brett Briggs has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination, the Series 8 General Securities Sales Supervisor Examination (Options Module & General Module), and the Series 24 General Securities Principal Examination. He is a registered broker in California, New York, and Utah.
Brett Briggs has worked in the securities industry for 36 years. During that time, he has worked at the following firms:
- Western International Securities (CRD #: 39262)
- Financial West Group (CRD #: 16668)
- The Shemano Group (CRD #: 35528)
- First Allied Securities (CRD #: 32444)
- Interfirst Capital Corporation (CRD #: 7659)
- H.J. Meyers (CRD #: 15609)
- Emanuel and Company (CRD #: 7309)
- Baring & Brown (CRD #: 24929)
- Royce Park Investments (CRD #: 16539)
- Thomas James Associates (CRD #: 15609)
- Apple Financial Corporation (CRD #: 10375)
If Brett Briggs was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email firstname.lastname@example.org for a free case consultation with a securities attorney.