Eccleston Article On The Protocol For Broker Recruiting Published In Practical Compliance & Risk Management Legal Journal
March 24, 2009
Attorney James J. Eccleston, SNSFE Chairman and head of the firm's securities department, is published in the March-April 2009 issue of Practical Compliance & Risk Management for the Securities Industry, a legal journal authored by outside writers within the compliance community.
In "Unintended Consequence: The Protocol That Binds," Jim discusses the unintended consequences of the Protocol for Broker Recruiting, an agreement between transitioning advisers and financial services firms designed to ease the transition of financial advisers from one firm to another.
Jim covers the Protocol basics;
The Protocol litigation surrounding non-compliance;
Creative applications of the Protocol Agreement;
And its strict interpretations.
Brokers who are transitioning or contemplating a transition can request a copy of the article by providing complete contact information in an email to Jim at JEccleston@snsfe-law.com.
Attorney James J. Eccleston, SNSFE Chairman and head of the firm's securities department, is published in the March-April 2009 issue of Practical Compliance & Risk Management for the Securities Industry, a legal journal authored by outside writers within the compliance community.
In "Unintended Consequence: The Protocol That Binds," Jim discusses the unintended consequences of the Protocol for Broker Recruiting, an agreement between transitioning advisers and financial services firms designed to ease the transition of financial advisers from one firm to another.
Jim covers the Protocol basics;
The principal goal of the...protocol is to further the clients' interests of privacy and freedom of choice in connection with the movement of their Registered Representatives...between firms.
The Protocol litigation surrounding non-compliance;
As one would expect, there has been litigation addressing whether transitioning financial advisers have complied with the Protocol...Courts indeed have issued injunctive relief under these circumstances.
Creative applications of the Protocol Agreement;
...parties in litigation have argued that the Protocol effectively has become an industry standard. Consequently, parties argue that...
And its strict interpretations.
Not all courts are so willing to overlook the contractual agreements between the firms and their financial advisers...
Brokers who are transitioning or contemplating a transition can request a copy of the article by providing complete contact information in an email to Jim at JEccleston@snsfe-law.com.
