FINRA accused Spartan Capital Securities and broker James Pecoraro of operating excessive trading and churning practices that allegedly generated substantial commissions while causing major investor losses.

FINRA has fined J.P. Morgan Securities LLC $3.25 million after finding that the firm failed to reasonably supervise a registered representative who recommended a leveraged, concentrated high-yield investment strategy that resulted in steep customer losses. According to FINRA’s April 2026 Letter of Acceptance, Waiver, and Consent, from at least January 2016 through April 2020, J.P. [...]

The allegations against former broker Jeffrey Thomas Higgins are not just about one advisor’s misconduct. They raise a more important question for investors: How can an alleged misappropriation scheme continue for nearly 17 years within regulated brokerage environments? Higgins, who was associated with Western International Securities and Financial West Group, has been charged by federal [...]

Federal authorities have charged former broker and investment adviser Jeffrey Thomas Higgins in connection with an alleged long-running scheme to misappropriate client funds spanning nearly two decades. According to the U.S. Department of Justice, Higgins is accused of defrauding investors from approximately December 2007 through June 2024 by falsely representing that he was purchasing securities [...]