Broker Barred: FINRA Permanently Bars Former Broker Donald Spivey
The Financial Industry Regulatory Authority (FINRA) has permanently barred Donald Franklin Spivey (CRD #847360, Camden, South Carolina) from acting as a broker or associating with any FINRA member firm in any capacity.
On July 21, 2025, Spivey consented to the sanction through an Acceptance, Waiver, and Consent (AWC) without admitting or denying the findings. According to FINRA, Spivey refused to appear for on-the-record testimony in connection with an investigation into whether his investment recommendations were suitable and in the best interests of retail customers.
Although Spivey initially cooperated with FINRA’s investigation, he later stopped doing so, resulting in the permanent bar. (FINRA Case #2023078794801)
Donald Spivey’s Broker Background
According to his FINRA BrokerCheck profile, Spivey had 45 years of experience in the securities industry and was previously registered with the following firms:
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Carter, Terry & Company, Inc. (Camden, SC) — 2005 to 2023
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Morgan Stanley DW Inc. (Purchase, NY) — 2002 to 2005
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UBS PaineWebber Inc. (Weehawken, NJ) — 2000 to 2002
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J.C. Bradford & Co. (New York, NY) — 1991 to 2000
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Interstate/Johnson Lane Corporation (Charlotte, NC) — 1979 to 1991
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McCarley & Company, Inc. (1978 to 1979)
He is no longer licensed to act as a broker and has no active FINRA or state registrations.
Recovering Investment Losses
Brokerage firms are required by FINRA rules to supervise their financial advisors to ensure compliance with securities laws and to protect investors. If a broker makes unsuitable investment recommendations, the firm may be held liable for resulting losses.
If you suffered financial losses with Donald Spivey or any of the firms he was associated with, you may be able to pursue recovery through a FINRA arbitration claim.
The White Law Group has represented hundreds of investors in FINRA arbitration claims against brokerage firms to recover investment losses.
Free Consultation
If you are concerned about your investments with Donald Spivey, please call The White Law Group at 888-637-5510 for a free consultation with a securities attorney.
FAQs
Why was Donald Spivey barred by FINRA?
Spivey was barred after he refused to appear for on-the-record testimony in a FINRA investigation into whether his recommendations were suitable for retail customers.
Can I recover losses from investments recommended by Spivey?
Possibly. If his recommendations were unsuitable, investors may have a claim against the brokerage firm that employed him.
What is FINRA arbitration?
FINRA arbitration is a dispute resolution process for investors seeking to recover losses from brokerage firms due to fraud, negligence, or unsuitable investment recommendations.
How can The White Law Group help?
Our attorneys have extensive experience representing investors in claims against brokerage firms nationwide. We evaluate your situation and pursue recovery on a contingency fee basis.
