Category Archives: Texas Securities Inc.

Brian K. Hardwick-Former Red River Securities Broker-Discloses Sanctions Over Oil & Gas Deals

May 2017 – Carrollton, TX

According to publicly available records Brian K. Hardwick  (CRD#4522460) ,  a  former stockbroker who was barred by FINRA from acting as a broker or otherwise associating with firms that sell securities to the public discloses 2 final regulatory events and two pending customer disputes

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 February 2017 Hardwick was fined $16,214, ordered to pay restitution of over $24 million and barred from the securities industry.  A FINRA hearing panel found that Hardwick violated securities laws by making material misrepresentations and omissions related to joint venture offerings that were set up as general partnerships for the purpose of engaging in oil and gas drilling. The findings stated that Hardwick did not provide authorizations for expenditures (AFEs) to investors and wildly inflated income distributions on prior wells and failed to disclose conflicts of interest.

A petition pending in Nueces County, Texas, seeks damages of $5.8 million and alleges misrepresentations in connection with an oil and gas investment. 2011-PR-00490-4

Hardwick’s registration history includes:

  • Red River Securities of Plano, TX                12/2009-2/2014
  • Sethi Financial Investments, Plano, TX    2/2009-3/2009
  • Texas Securities Inc, Carrollton, TX            11/2002-3/2007

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

Douglas Hardwick-Former Texas Securities Broker-Sanctioned for Sale of Oil & Gas Investments

May 2017 – Carrollton, TX

According to publicly available records Douglas R. Hardwick  (CRD#4522610) ,  a  stockbroker currently not registered, but who was previously registered with  Texas Securities, Inc.,  discloses a pending regulatory matter.

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 December 2016 Alabama securities regulators issued a cease and desist order naming Hardwick and others for the solicitation and selling of working interests in oil and gas ventures to Alabama residents without being properly registered as an agent. Admin Order CD 2016-0011. 

 

Hardwick  has not been registered as a securities broker since he left Texas Securities in 8/2009.

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