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David T. Harmon
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David T. Harmon
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In the News: UBS Sues Fired Broker Who Didn’t Pay Arbitration Award

I was recently interviewed by AdvisorHub, a popular wealth management news source, to discuss the news that UBS Financial Services is suing a former broker for allegedly failing to pay the $889,000 it was awarded in an arbitration decision a year ago.  According to a petition to confirm and compel payment that UBS filed in U.S. District Court, the broker failed to pay the balance an arbitration panel ruled that he owed on nine promissory notes.

As I state in the article, which you can read here, “the court filing is a ‘last resort-remedy’ for firms, and highlights the importance of due diligence when hiring brokers.” Stay tuned for more developments on this matter.

If you have any questions about this post or any other related matters, please email me at dtharmon@norris-law.com.

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David T. Harmon
Member
David T. Harmon
Visit Profile
Related Posts
Financial Advisors: Know Your Post-Employment Restrictions Before Making a Move
In the News: Fired UBS Broker Gets to Keep Half-Million-Dollar Note Balance
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