The new administration’s regulatory reform efforts are unlikely to affect new retirement sale standards.
The Louisiana group’s contact with Morgan clients holding $1.4 billion at the bank allegedly violated employment agreements.
Merrill agrees to pay California brokers for parking, prospecting calls and other outlays, while JP Morgan agrees to $500,000 settlement over private banking lapses.
Social media posts—even on private accounts—can violate non-solicit agreements, attorneys warn.
Former broker Johnny Burris says regulatory complaint was unduly influenced by his former employer.
The lifelong Bear Stearns/JPM regional director is at least the third multi-million-dollar broker to jump from Morgan to Morgan Stanley in southern California this year.
Legacy Bear Stearns advisor James Odorczuk left long-time partnership that had been together since 2003.
Firm let broker’s former colleagues spread “grossly negligent…if not malicious” words about him to customers, arbitrators rule.