Donald Spivey Barred by FINRA for Alleged Refusal to Provide Testimony

Donald Spivey (CRD #: 847360), a broker formerly registered with Carter, Terry & Company, has been barred by FINRA, according to his BrokerCheck record, accessed on August 16, 2025. Keep reading if you want to know more about his alleged conduct as a broker.

Bar by FINRA

On July 21, 2025, Donald Spivey consented to the entry of findings that he allegedly refused to appear for on-the-record testimony requested by FINRA as part of an investigation.

According to a Letter of Acceptance, Waiver & Consent (AWC), this investigation concerned the suitability of certain investment recommendations and whether those recommendations were in the best interests of retail clients.

The AWC concluded that the refusal to provide testimony constituted violations of FINRA Rules 8120 and 2010.

FINRA Rule 8210

FINRA Rule 8210 requires members to submit their books and records for inspection and to appear for testimony in connection with FINRA investigations.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Donald Spivey was permanently barred by FINRA on July 21, 2025. You can read a copy of the AWC here.

Background Information

Donald Spivey has passed the following exams:

• Securities Industry Essentials Examination – SIE
• Interest Rate Options Examination – Series 5
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

In the past, he worked for the following firms:

• Carter, Terry & Company (CRD#:16365) 
• Morgan Stanley DW (CRD#:7556) 
• UBS PaineWebber (CRD#:8174)
• J.C. Bradford & Company (CRD#:1287)
• Interstate/Johnson Lane Corporation (CRD#:431)
• McCarley & Company (CRD#:564) 

Kurta Law Can Help

If you worked with Donald Spivey and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.