UBS Reverses Non-Solicitation Language for 2017 Bonuses

Posted on February 28th, 2018 at 2:54 PM

From the Desk of Jim Eccleston at Eccleston Law LLC:

UBS has announced that it is reversing an announcement last week that 7,000 brokers will be required to sign a 12-month non-solicitation agreement if they want to receive their 2017 bonuses.

Instead, UBS is replacing the non-solicitation language and reverting to the previous standard, which required a 12-month non-solicitation period only if departing advisor did not pay back debts owed to the firm.

Nonetheless, UBS pledges to add more restrictions to next year’s bonus agreement. As a result, those agreements will need to be carefully reviewed.

In these types of matters, the attorneys at Eccleston Law consult financial advisors, including by planning and negotiating the terms of their transition, and defending reps in litigation and arbitration. 

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston

Return to Archive

TESTIMONIALS

Previous
Next

Thank you for your professional assistance with this matter. You are very good at what you do.

John T.

LATEST NEWS AND ARTICLES

December 19, 2024
GPB Capital Investors See Progress as Court Confirms Receivership

In a significant development for investors in GPB Capital Holdings, the private equity firm will move into receivership following a prolonged legal battle.

December 18, 2024
SEC Fines Cantor Fitzgerald $6.75 Million for Misleading SPAC Investors

The Securities and Exchange Commission (SEC) has charged Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) under its control to make misleading statements to investors before their initial public offerings (IPOs). 

December 17, 2024
Former Western Asset Management Co-CIO Charged with Fraud for Cherry-picking Trades

The SEC recently charged Ken Leech, former Co-CIO of Western Asset Management, with fraud.