Eccleston Law: James Eccleston Quoted in Broker's World News Column Regarding Controversial Counterclaims

Posted on September 14th, 2011 at 9:00 AM

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.

This article can be read at 
http://blogs.wsj.com/financial-adviser/2011/08/02/i-signed-what-bonus-contracts-may-surprise/

Related Attorneys: James J. Eccleston

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. They are the best.

Thomas C.

LATEST NEWS AND ARTICLES

October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.