FINRA Awards Millions to Former Barclays Swaps Trader

Posted on April 8th, 2015 at 10:20 AM
FINRA Awards Millions to Former Barclays Swaps Trader

From the Desk of Jim Eccleston at Eccleston Law LLC:

A former Barclays PLC swaps trader has won about $9 million in back pay that he didn’t receive after quitting the firm during a regulatory investigation.

Mayank Chamadia joined Barclays in 2004 and was placed on administrative leave from his derivatives-trading job in June 2013 because his group was part of an industry-wide investigation into alleged manipulations of interest rate swaps.

Chamadia wasn’t accused of any wrongdoing and fully cooperated with the investigation. Chamadia resigned in October 2013. 

Last week, a FINRA arbitration panel awarded Chamadia $3.7 million in deferred compensation for 2010 to 2012 which had vested by March 2014, plus interest. The award also includes deferred compensation that has vested since 2014, which the arbitration panel didn’t quantify. The total award is approximately about $9 million.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: FINRA, Barclays PLC, Mayank Chamadia, James Eccleston, Eccleston Law

Return to Archive

TESTIMONIALS

Previous
Next

If you are being bothered by the Regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

October 15, 2021
FINRA Bars Former LPL Advisor Who Allegedly Misappropriated Elderly Client’s Funds

The Financial Industry Regulatory Authority (FINRA) has barred a former LPL advisor who allegedly misappropriated a senior client’s funds and subsequently failed to cooperate in FINRA’s investigation.

October 14, 2021
NASAA Targets Unpaid Arbitration Awards With Proposed New Model Rules

The North American Securities Administrators Association (NASAA) has proposed new rules in an attempt to reduce the large number of arbitration awards that go unpaid to investors who prevail as claimants in arbitration proceedings.

October 13, 2021
SEC Freezes Assets and Halts Alleged Fraudulent Scheme By Ron Harrison

The Securities and Exchange Commission (SEC) has obtained an emergency court order freezing the assets of Ron Harrison, who allegedly operated an ongoing fraudulent scheme.