J.P. Morgan Securities (J.P. Morgan) has asked the court to issue a temporary restraining order (“TRO”) barring Gabriel Gomez from soliciting his clients and using customer contact information.
Tagged with "tro"
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SEC Charges Southern California Investment Adviser with Fraud
Posted on May 26th, 2020 at 3:07 PM
The U.S. Securities and Exchange Commission announced that it had obtained a temporary restraining order (“TRO”) against Paul Horton Smith, Sr. in an effort to halt an on-going Ponzi scheme. The SEC said that it also froze Smith’s assets. According to the SEC, Smith was running a Ponzi scheme that targeted senior citizens in Southern California. The SEC alleged that Smith used eGate, LLC, his investment advisory firm, and Planning Services, Inc., his insurance and estate planning company, to market securities in another one of his companies, Northstar Communications, LLC.
Judge Relies on COVID Pandemic to Deny Motion for TRO Filed Against Brokers
Posted on May 20th, 2020 at 3:11 PM
A federal court judge in Florida denied Regions Bank’s motion to reinstate a temporary restraining order (“TRO”) filed against the bank’s former financial advisors, Michael Montalvo and Mauricio R. Cardenas. Regions Bank sought a TRO in an effort to restrain Montalvo and Cardenas from soliciting former clients serviced at Regions Bank.
In Unusual First, Broker Wins Temporary Restraining Order Against His Firm
Posted on May 5th, 2020 at 3:24 PM
Following his termination from Investacorp, Ian James sued the firm alleging that the firm engaged in deceptive and unfair trade practices, among several claims. According to James, Investacorp told him that he would be terminated “for cause” unless he sold his book of business to another representative at Investacorp. If he sold his book to the advisor selected by Investacorp, he would be allowed to resign. According to James, the price that he was offered to sell his book of business as part of this deal was far below market value.
FINRA Arbitration Panel Dismissed TRO Against Former Edward Jones Broker
Posted on December 12th, 2019 at 2:13 PM
The Financial Industry Regulatory Authority (“FINRA”) arbitration panel recently dismissed a temporary restraining order (“TRO”) against a former Edward Jones broker who initially agreed to the TRO prohibiting him from telling customers about his move to Ameriprise.
Court Denies Edward Jones's Restraining Order Against Former Broker
Posted on November 21st, 2019 at 1:49 PM
An Indianapolis federal court has denied a motion by Edward Jones for a temporary restraining order ("TRO") against a former broker who joined a competing firm.
Georgia Court Ruling Sure to Cause Reps to Quickly Move Assets upon Resignation
Posted on June 27th, 2019 at 3:07 PM
A Georgia court judge has granted Morgan’s Stanley a request to prevent a runaway broker from contacting former customers. However, the court’s ruling will allow the broker to work with immediate family members and customers who already signed account transfer forms.
Morgan Stanley Loses Temporary Restraining Order Aiming to Stop Former Investment Brokers from Soliciting Clients
Posted on March 27th, 2019 at 9:28 AM
A Texas judge has denied a temporary restraining order (TRO) filed by Morgan Stanley to prevent two Dallas, Texas-based investment advisers, who left the firm, from soliciting their former clients at their new firm, an independent broker-dealer.
How Does a Temporary Restraining Order (TRO) Impact Your Business?
Posted on October 23rd, 2018 at 10:04 AM
A Temporary Restraining Order (TRO) is an extreme remedy that financial services firms frequently employ to stop advisors from transitioning their clients to a new firm. While the TRO requires the parties in the case to maintain a certain status quo until the court can hear further evidence, the delay overwhelmingly harms the departing advisor. In many respects, the TRO fight is not the battle; instead, it is the very war itself.
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