JAIME ISAAC SANCHEZ RIVERA is currently employed as a Broker and/or Investment Adviser at FIRST SOUTHERN SECURITIES, LLC. located at 8 CALLE#1, STE 401, GUAYNABO, PR, 00968-1772.
JAIME ISAAC SANCHEZ RIVERA has worked at FIRST SOUTHERN SECURITIES, LLC. since August 28, 2017
Disclosure History
JAIME ISAAC SANCHEZ RIVERA has 3 Disclosure Event(s).
Date: December 21, 2017 Category: Customer Dispute Allegations: Time Frame April 2014- April 2017: The client alleged trades entered without authorization and used margin without authorization. Broker Comment: [Customer] was a client of [Third Party], [Third Party] and myself. Our relationship started in May 2014 as I started at HJ Sims. When we started at HJS she had bonds in her account purchased by others and had already signed a margin agreement. She wanted to sell the bonds she owned as she was looking for more income and thus we presented a strategy that created income. At that meeting, her ex-husband, [Third Party], attended and took a leading role in explaining to fruition the difference between bonds and the strategy proposed. She also expressed that she would use the income monthly. At that meeting they both agreed that this would be a good choice for her. After a while, she started to ask for monies other than the current income to pay for additional bills that she had not foreseen. On one of our quarterly meetings, I asked her to explain the need for additional distributions and thus she explained that now she needed to start paying for her son's college tuition as her ex-husband, who apparently lost most of his money playing the treasury markets, could not afford to keep paying his sons college. After going through her account, I explained of the possibility that she could borrow against her account, through the margin agreement that she has signed, and that the account would still be making enough income to cover the debit balance. After analyzing, she proceeded to ask for withdrawals on margin. However she started to take out more than originally anticipated thus creating a negative debit balance. After multiple meetings and conversations, she told me that she was selling her business and that the profits would be put back to the account, something that never happened as she confided the fact that she was considering the purchase of some real estate with those monies. I understood that she accessed the account continuously and knew the values of her position on an ongoing basis. I also understand she had other monies outside her account at HJ Sims.
Date: June 13, 2017 Category: Customer Dispute Allegations: Clamant alleged unauthorized use of margin and misrepresentation of an investment with in the time frame of January 2016 to April 2017. Damage Amount Requested: $16,383.43 Settlement Amount: $20,000.00
Date: May 17, 2012 Category: Regulatory
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