Donald George Sperring, of Pittsburgh, Pennsylvania, a stockbroker formerly registered with Equitable Advisors LLC (AXA Advisors LLC), is the subject of a customer initiated investment related written complaint which was settled for $15,000.00 in damages based upon accusations of the potential misappropriation of the customer’s funds by Sperring when he was employed by Equitable Advisors. According to the complaint, the customer experienced damages after providing Sperring with funds for purposes of a certificate of deposit purchase.
Sperring has been identified in two more customer initiated investment related disputes concerning allegations of his wrongdoing at a securities broker dealer. Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Sperring is referenced in a customer initiated investment related written complaint where the customer sought compensatory damages founded on accusations of Sperring misleading the customer regarding a mutual fund sale when Sperring was registered with AXA Advisors.
On March 19, 2019, another customer filed an investment related complaint concerning Sperring’s conduct in which the customer requested compensatory damages supported by allegations of the customer not being informed by Sperring about death benefit features on a variable annuity sold through Sperring at AXA Advisors. The complaint alleges “twisting” or an unsuitable replacement of a customer’s guaranteed-growth annuity with another annuity.
FINRA Public Disclosure also shows that Sperring has been barred from associating with any FINRA member in any capacity based upon accusations that he failed to cooperate with FINRA’s request for information. Case No. 2019062281401 (October 15, 2019). Sperring was issued a Notice of Suspension on July 10, 2019, and issued a Suspension from Association letter on August 5, 2019. FINRA warned the stockbroker that it would bar him if he did not request termination of the suspension by October 14, 2019. Sperring failed to respond by the deadline, so he was automatically barred by the regulator on October 15, 2019.
Sperring was associated with AXA Advisors between March 29, 1994, and March 18, 2019.
