Reuters – A former broker of a
The case is a rare win for a broker trying to oppose the return of unpaid bonus money, say lawyers.
Signing bonuses, often referred to as "employee forgivable loans," are paid upfront and structured as loans forgiven over time, usually a seven-year period. Brokers who leave the firm, or whose employment is terminated before the loan is fully forgiven, must return part of the payment.
"The vast majority of these cases are victories for the firm," said
UBS "lured" Gregoriou and a partner from
A lack of support and other problems at UBS eventually led to a split between Gregoriou and his partner, according to Lieberman. Gregoriou lost about half of his accounts, said Lieberman. Gregoriou is no longer working for a brokerage, according to regulatory filings.
The FINRA panel denied a
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