February 4, 2023

Credit Suisse ordered to pay former brokers about $10million:

Prior to the Christmas period  FINRA ( the Financial Industry Regulatory Authority Inc) demanded Credit Suisse to pay seven of their ex- brokers approximately six and a half million dollars in ‘damages, costs, attorney fees’ in a case from 2015. The brokers involved in these cases went to other firms e.g Morgan Stanley and UBS. 

The company is arguing that no broker is entitled to request twice the amount of money for recovery which has already been paid by the firms they work for.

Credit Suisse are not required to pay deferred compensation for resignation but do if the broker has been removed without a cause listed. 

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Should they be paying, what is your opinion?

Credit Suisse ordered to pay former brokers about $10 million – InvestmentNews

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