Eccleston Law: James Eccleston Quoted in Broker's World News Column Regarding Controversial Counterclaims
Eccleston Law Offices attorney James Eccleston was quoted in Broker's World News Column, "I Signed What? Bonus Contracts May Surprise"
The article highlights the fact that under some contracts, if an advisor leaves the company without repaying a bonus, the adviser cannot respond with direct counterclaims, unless it's simply a claim to prove that they did repay the bonus.
Chicago-based attorney James Eccleston had a client who left MSSB without repaying a retention bonus. MSSB then filed an arbitration claim with Finra to seek repayment. Eccleston argued the controversy, but encouraged brokers to have an attorney look over legal documents they are considering signing.
"We would never counsel a client to sign a contract with that in it," Eccleston said.
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Related Attorneys: James J. Eccleston