Category Archives: PTX Securities (fka Balance Financial Securities)

Terry D. Harvey-PTX Securities Broker-Discloses $1M Customer Dispute Over Oil & Gas Investment-Plano, TX

May 2017- Plano, Texas

The FINRA records  of Terry DeWayne Harvey ,  a  stockbroker who is currently employed by PTX Securities  disclose a pending  customer dispute for losses on oil and gas investments.

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.

In the currently pending customer dispute a customer of PTX Securities seeks damages in excess of $1 million in connection with an investment in an oil and gas deal. The following allegations are set forth on Mr. Harvey’s FINRA record: “PTX was only the managing broker dealer for offerings by Payson Petroleum. Neither the Firm nor Mr. Harvey had any other affiliation with Payson. Payson’s owners made misrepresentations to investors regarding the owners contribution of its own capital into two of the offerings from October 2013-June 2014. The owners of Payson entered into a consent agreement with the SEC in December 2016. This suit is a result of these actions. ” Case CT-17-02213, 162 Judicial District, Dallas, Texas.

Harvey has been employed by PTX Securities since 8/2012. His prior employment includes Balanced Financial Securities in Plano and Summit Alliance Securities in Dallas.

If you have questions about an account  handled by Terry D. Harvey call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

How to Recover Damages for Losses on Oil and Gas Investments Purchased from PTX Securities

Investors suffering losses on oil and gas investments purchased from PTX Securities of Plano, Texas, may be able to recover damages through FINRA arbitration.

PTX Securities (fka Balanced FInancial Securities) was sanctioned by FINRA in April 2016 for failure to perform adequate due diligence in connection with the sale of two private placement oil and gas offerings. See this for details on the sanction.

Call for a no charge consultation to learn about your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

PTX Securities Sanctioned Over Oil & Gas Investments by Securities Regulator

Plano Texas- April 2016

PTX Securities  LLC (formerly Balanced Financial Securities) entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that PTX failed to conduct adequate due diligence on two oil and gas private placement offerings.

FINRA alleged that from April 2013 to June 2014 PTX derived the majority of its revenue from its role as a managing wholesaler broker dealer for four oil and gas private placement offerings, however PTX failed to conduct adequate due diligence for two offerings approved in October 2013 and January 2014 in violation of NASD Rule 3010(b) and FINRA Rule 2010.

AWC 20140390961

PTX Securities was censured and fined $20,000 .

PTX Securities   has been a FINRA member firm since December 1978 and employs approximately 12 registered representatives from its office in Plano, Texas.

If you have losses on investments that you purchased from PTX Securities you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870