UBS Reverses Non-Solicitation Language for 2017 Bonuses

Posted on February 28th, 2018 at 2:54 PM
UBS Reverses Non-Solicitation Language for 2017 Bonuses

From the Desk of Jim Eccleston at Eccleston Law LLC:

UBS has announced that it is reversing an announcement last week that 7,000 brokers will be required to sign a 12-month non-solicitation agreement if they want to receive their 2017 bonuses.

Instead, UBS is replacing the non-solicitation language and reverting to the previous standard, which required a 12-month non-solicitation period only if departing advisor did not pay back debts owed to the firm.

Nonetheless, UBS pledges to add more restrictions to next year’s bonus agreement. As a result, those agreements will need to be carefully reviewed.

In these types of matters, the attorneys at Eccleston Law consult financial advisors, including by planning and negotiating the terms of their transition, and defending reps in litigation and arbitration. 

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 & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition 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: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston

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