Financial Industry Regulatory Authority arbitrators sided with a former J.P. Morgan Securities broker in his defamation claim, according to AdvisorHub. Ruling in the case of New York City broker Michael C. Nolan, the FINRA panel ordered J.P. Morgan to pay $250,000 in...
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Firm Transition
New York City Council considering ban on noncompete agreements
Legislation has been introduced in the New York City Council that would prohibit employers in the city from making workers sign noncompete agreements, after a similar effort failed at the state level. Noncompete agreements are clauses in employment contracts...
Advisor leaves Osaic following consolidation and moves to LPL Financial
Veteran financial advisor Cubby Bice has decided to join LPL Financial's broker-dealer, RIA, and custodial platforms, according to WealthManagement. Bice, who is leaving Osaic, reported serving approximately $130 million in advisory, brokerage and retirement plan...
Goldman Sachs Hits Former PFM Registered Representatives with Form U5 Notices Over Alleged Garden Leave Violations
AdvisorHub reports that dozens of former registered representatives with the Personal Financial Management unit of Goldman Sachs have discovered that their Forms U5 contain notices regarding their decision to leave for rivals ahead of the sale of that division to...
FINRA arbitrators deny firm’s breach of contract claims against former brokers
The Financial Industry Regulatory Authority issued an arbitration ruling in a dispute between a Texas company and two of its former independent brokers, a husband and wife team. NexTrend Securities had filed a statement of claim against Scott David Offerman and Sonya...
