Donald George Sperring Jr. of Pittsburgh Pennsylvania a stockbroker formerly registered with AXA Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Sperring failed to furnish information to FINRA after being questioned by the regulator. Case No. 2019062281401 (Oct. 15, 2019).
FINRA Public Disclosure indicates that Sperring had been probed by FINRA in 2019. The stockbroker’s failure to comply with information requests led him to be suspended from associating with any FINRA member effective August 5, 2019. Sperring was provided three months to request the termination of his suspension. This required that he cooperate with FINRA’s requests. Sperring’s failure to cooperate by the deadline resulted in an automatic bar in all capacities on October 15, 2019.
Sperring has been identified in two customer initiated investment related disputes containing accusations of his misconduct while employed by AXA Advisors. FINRA Public Disclosure reveals that a customer filed an investment related complaint involving Sperring’s activities where the customer requested unspecified compensatory damages founded on allegations that the customer had been misled by Sperring in regard to a mutual fund purchase. According to the complaint, Sperring disregarded the customer’s investment when it sustained a 40 percent loss in value.
On March 19, 2019, another customer filed an investment related arbitration claim involving Sperring’s activities in which the customer sought unspecified damages supported by accusations that the customer had not been apprised of death benefit options available on a variable annuity product. The complaint also alleges that it was not suitable for the customer to replace an annuity that had been providing the customer guaranteed growth with another annuity through the stockbroker.
Sperring was registered with AXA Advisors between March 29, 1994 and March 18, 2019.