Eccleston Law: For Investors. For Advisors
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
Broker Transition
Transition Contract Review
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Contract Review
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
Securities Fraud
Breach of Fiduciary Duty
Retirement Planning Negligence
Unauthorized Trading
Lawyer Referral Network
FAQs
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact
Site Menu
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
For Advisors: Overview
Broker Transition
Broker Transition Overview
Transition Contract Review
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Contract Review
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
For Investors: Overview
Securities Fraud
Breach of Fiduciary Duty
Retirement Planning Negligence
Unauthorized Trading
Lawyer Referral Network
FAQs
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact

A FINRA Panel Grants Morgan Stanley’s Request for a Permanent Injunction Preventing Former Reps From Soliciting Clients

Posted on July 14th, 2017 at 10:00 AM
A FINRA Panel Grants Morgan Stanley’s Request for a Permanent Injunction Preventing Former Reps From Soliciting Clients

From the Desk of Jim Eccleston at Eccleston Law LLC:

A three-person FINRA arbitration panel has granted Morgan Stanley’s request for a permanent injunction prohibiting a pair of former reps from soliciting clients from their new Janney Montgomery Scott office in Mystic, Connecticut until April 30, 2019.

According to the complaint, Morgan Stanley argued that the reps’ solicitations violated a “Former Financial Advisor Program” document signed in 2014 when they assumed accounts from another rep who was retiring. The “Former Financial Advisor Program” document protects Morgan Stanley from continuing to receive payouts on accounts only so long as they continue their business relationship with Morgan Stanley.

The FINRA panel’s decision was important because it demonstrated that side agreements sometimes can trump the protections of the Broker Protocol, which allow reps to take certain client information with them when they move to another signatory Protocol firm. It therefore is critical for reps to retain qualified securities counsel well in advance of any transition to ensure it goes smoothly.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & Arbitration, Strategic Consulting Services, Regulatory  Matters, Transition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

 

Related Attorneys: James J. Eccleston

Tags: Jim Eccleston, Eccleston Law, Eccleston Law LLC, Eccleston, Morgan Stanley, FINRA

Share

Return to Archive

Latest Articles
Advisor Team that Left Morgan Stanley Files Counterclaim Seeking to Prohibit Firm from Soliciting Clients
January 21st, 2021 at 3:33 PM
Insurance Agent Continues to Sell Despite Lengthy Disciplinary History
January 20th, 2021 at 4:23 PM
Read More »
Latest News
CFP Board is the New Sheriff and it Is Not Your Friend
October 24th, 2020 at 10:04 AM
Defending Against a Customer Complaint First Requires Selecting Correct Legal Counsel
October 15th, 2020 at 10:02 AM
Read More »
Share

Request a Free Consultation

Attorneys are standing by during regular business hours. Call us now for immediate service, or complete the form below and we will contact you as soon as possible.

Your E-mail Address:
 
Chicago
55 West Monroe St.
Suite 610
Chicago, Illinois 60603
(312) 332-0000
(312) 332-0003
New York City
One Liberty Plaza
165 Broadway, 23rd Floor
New York, New York 10006
(312) 332-0000
(312) 332-0003
Boca Raton
2255 Glades Road
Suite 324A
Boca Raton, Florida 33431
(312) 332-0000
(312) 332-0003
2021 © Eccleston Law, LLC.
All Rights Reserved.
The law is continuously changing. Please do not rely on information found on this site without consulting a lawyer to determine if any recent changes in the law may have an impact.