Last Updated: February 2024 (Corpus Christi, TX)
Jaime Rios Investigation Summary
Here’s what you need to know about Corpus Christi, TX, stockbroker Jaime Rios:
- Name: Mr. Jaime Rios
- DBA: James Rios Financial Services Inc.
- Current Employer: Money Concepts Capital Corp. (since 1998)
- Previous Firms: Jefferson Pilot Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: None
- Primary Location: Corpus Christi, TX
- CRD 1747126
- Can Jaime Rios be sued in FINRA arbitration: Yes
- Sanctioned by Texas Securities Regulators: Yes
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Jaime Rios As Your Stockbroker?
In 2023 the Texas State Securities Board (TSSB) fined Jaime Rios $25,000 and reprimanded him for failing to obtain written approval from his employing broker dealer of an outside business activity and related to private securities transactions and for failing to timely update Form U4 and list the outside business activity.
In the Texas State Securities Board Disciplinary Order the TSSB made the following findings of fact:
- From 7/2017 to 3/2022, Rios engaged in multiple business activities with Timi Group, Inc. , a Wyoming Corporation doing business in Texas. Rios’ roles with Timi included the sales of Timicoin, a cryptocurrency created and issued by Timi Group.
- Money Concepts Capital’s written supervisory procedures required Rios obtain prior written approval for any outside business activity prior to engaging in the outside business.
- Rios did not disclose his outside business with Timi Group to Money Concepts Capital until December 2020 and they did not approve the outside business until January 2022, shortly before Rios ceased his business with Timi Group.
- Rios failed to identify that he was engaging in unapproved outside business activities with Timi Group on annual compliance questionnaires.
Timicoin / TimiHealth
In a January 2019 Press Release the company states: “As the premier healthcare utility and application focused blockchain platform, we are announcing the listing of Timicoin (TMC) on January 22nd, 2019 on the premier SWFT Blockchain exchange. SWFT exchange is focused on global applications and backed by the Draper Dragon Digital Fund from Silicon Valley.”
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.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Jaime Rios, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
