Brent Spicuzza, of Chesterfield, Missouri, a stockbroker formerly registered with AXA Advisors, LLC, has been named in a customer initiated investment related written complaint on March 21, 2016, based upon allegations that Spicuzza made unsuitable investment recommendations to the customer concerning the purchase of energy sector mutual funds.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Spicuzza has been named in three additional customer initiated investment related disputes containing allegations of Spicuzza’s misconduct while employed with AXA Advisors, LLC. Specifically, on July 14, 2004, a customer filed an investment related written complaint involving Spicuzza’s conduct, based upon allegations that Spicuzza misled the customers in reference to options transactions.
Subsequently, on November 24, 2008, a customer filed an investment related written complaint regarding Spicuzza’s activities, based upon allegations that Spicuzza did not properly apprise the customers concerning the terms and conditions of customers’ variable annuity contracts, and effected annuity contracts which were not suitable for the customers. On July 11, 2013, another customer initiated investment related written complaint involving Spicuzza’s conduct was settled for $32,357.73 in damages based upon allegations that Spicuzza effected variable annuity contracts which were not suitable for the customer in consideration of the customer’s age.
Spicuzza’s registration with AXA Advisors, LLC was terminated on November 19, 2015, based upon allegations that he failed to disclose outside business activities to the firm. Spicuzza was later fined $15,000.00 by the State of Missouri Office of Secretary of State, subject to heightened supervision restrictions and prohibited from holding any supervisory positions within an investment advisory based upon consenting to findings that Spicuzza failed to provide appropriate disclosures regarding his outside business activities. Docket No. AP-15-51 (Nov. 1, 2016).
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