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Brokers Non-Solicitation Agreements

McGuireWoods LLP

The Broker Protocol’s Demise — Imminent or Greatly Exaggerated?

McGuireWoods LLP on

For 14 years, the Protocol for Broker Recruiting has allowed financial advisors to leave their employer firms and take specific client information with them without fear of a retaliatory lawsuit. Recently, however, the...more

Womble Bond Dickinson

The Broker Protocol: End of an Era?

Womble Bond Dickinson on

Morgan Stanley and UBS – two of the largest wirehouses in the United States – recently withdrew from the Protocol for Broker Recruiting Agreement, commonly referred to as the “Broker Protocol.” This move has raised much...more

Jackson Lewis P.C.

A Protocol On Life Support – Financial Industry Assesses The Aftermath Of Major Defections From Broker Recruitment Pact

Jackson Lewis P.C. on

In the fourth quarter of 2017, two major financial firms dropped out of an industry-wide Protocol for Broker Recruiting (the “Protocol”), an agreement designed to reduce litigation surrounding the movement of stockbrokers...more

Dorsey & Whitney LLP

A Matter of Protocol - Rules for Departing Brokers Trying to Solicit Former Clients

Dorsey & Whitney LLP on

Question: We operate a financial services firm that employs account executives who execute investment trades on behalf of clients. One of our brokers recently resigned to move to a competitor firm. ...more

Burr & Forman

Is a Licensed Securities Dealer a “Professional” Under Alabama Law Prohibiting Enforcement of Nonsolicitation Agreements Against...

Burr & Forman on

The Alabama Court of Civil Appeals released a slip opinion on May 16, 2014 addressing enforcement of a nonsolicitation agreement against a licensed securities broker. See G.L.S. & Associates, Inc., and G.L. Smith &...more

Burr & Forman

Is A Licensed Securities Dealer A “Professional” Under Alabama Law Prohibiting Enforcement Of Nonsolicitation Agreements Against...

Burr & Forman on

The Alabama Court of Civil Appeals released a slip opinion on May 16, 2014 addressing enforcement of a nonsolicitation agreement against a licensed securities broker. See G.L.S. & Associates, Inc., and G.L. Smith &...more

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