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.
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