NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Arthur Braden Diggs Jr.
AWC/2008013992501

Biggs misappropriated at least $255,000 in customers’ insurance premiums by requesting that the customers submit their checks to him, and then depositing some of them into his personal bank account for his own use and benefit. In order to conceal his misappropriation, Diggs changed the addresses of record for the customers to a post office box he controlled, without their permission or knowledge, and periodically sent them altered insurance statements and told them that the policies were in good standing. Diggs misrepresented on firm compliance surveys that he did not receive funds directly from his customers.

Arthur Braden Diggs Jr. : Barred

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