Erez Law is currently investigating PTX Securities, LLC financial advisor Terry Harvey (CRD# 2364966) regarding losses in the oil and gas sector. Harvey has been registered with PTX Securities, LLC in Plano, Texas since 2012.
Many oil and gas companies have experienced price fluctuations over the past few years, which has put financial stress on the oil and gas industry. A supply glut in 2014 and 2015 led to some of the lowest prices the market has seen in recent years. In turn, securities values also dropped. While financial advisers can effectively coax clients into lucrative high risk, high yield investments in the oil and gas industry, some fail to fully inform their clients of the inherent risks.
Harvey has been the subject of one customer complaint, according to his CRD report:
March 2017. “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 to 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.”
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, PTX Securities, LLC may be liable for investment or other losses suffered by Harvey’s customers.
Erez Law represents investors in the United States for claims against PTX Securities, LLC financial advisor Terry Harvey, regarding customer investment losses tied to the oil and gas sector. If you were a client of PTX Securities, LLC or another firm, and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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