Firm failed to give broker who has been there for 27 years adequate notice of change in his options expirations, but arbitrators knick broker for failing to monitor his position.
Brokers with between 18 and 34 years experience all jumped last week in Texas, Utah and Minnesota.
Moves add to a steady stream of departures from the Swiss bank’s U.S. brokerage business as regional firms lay down the welcome mat.
Settles SEC charges of inadequate surveillance that led five independent brokers in its franchise to steal almost $2 million from clients over four years.
Firm’s willingness to invest in the overhead of a new branch for solid, but not stellar, performers underscores eagerness to expand its employee channel brokerage force.
In reclassifying an arbitration chair from public to non-public panelist, Finra gave a court reason to overturn a $287,000 award, California broker argues in rare courthouse request.
Aggressive offer includes potential for top-quintile brokers to receive 320% of their trailing-12 production over four years, including 170% upfront in cash.