Whether you`re an experienced advisor or an upcoming beginner advisor, make sure you`re fully informed and understand every contract you sign, so you understand how it affects your ability to move your business book elsewhere if you decide it`s the best one for you. And if you`re a Morgan Stanley advisor, make sure you`ve fully understood any new employment contracts that will be offered to you, including any commitment bonuses in the future, and have verified them with a lawyer. These may contain restrictive agreements that may not be in your best interest if you plan to change careers in the future. Prior to the 2004 deal, it was customary for large companies like Morgan Stanley and Merrill Lynch to sue consultants when they left, usually freezing clients from trading their accounts. You must immediately inform your direct supervisor and an LCD member if you are involved or have knowledge of them in any criminal, civil, regulatory or financial events related to you or the company. Among these events, for example, if you cannot act in any way, encourage others to trade or encourage other related financial instruments or recommend related financial instruments, while you are in possession of essential non-public information (NPMIs) relating to such securities or instruments. You, your spouse/national partner and financial family must follow the Directive on Global Trade in Personnel, Investments and External Business Activities, as well as all applicable Guidelines on Trade in Employees for your business unit or region. (Asset managers must follow the WM Employee Trading Policy and the WM Private Securities Transactions Policy.) These Directives address, inter alia, prior authorisation requirements and restrictions on the trading of certain types of securities or other financial instruments, participation in certain types of strategies and the keeping of certain types of accounts. Additional restrictions apply to transactions in Morgan Stanley securities: Morgan Stanley says in its complaint that Abel was originally employed as a financial advisor, but that after “an unsuccessful transition,” he became a member of the support team and served with financial advisor Michelle Paul. In its complaint, the company claims that Abel slipped his resignation letter under the office door of his manager Albert Toto III, while Toto was not in town, which led to his resignation until after Martin Luther King Jr.`s extension. Holiday weekend remained unnoticed. If you leave another company or model and join it, it is likely (and should be expected) that UBS/MS will file a temporary training order to prevent you from contacting your clients and imposing advertising and/or competition bans in your contract with them.
If you are a UBS advisor who is still able to repay only debts to be exempted from the ban on debauchery, your path is easier for now. Even if Morgan Stanley withdraws from the protocol, consultants can still go there to see other companies. The question will of course be whether this consultant is subject to restrictive obligations, such as for example. B an obligation not to advertise, which means that under his contract, the consultant would not be entitled to encourage clients to follow them in their new business. In addition, the advisor will probably not be able to carry the information currently authorized by the protocol and the advisor will also have to be careful to ensure compliance with the S-P regulation. As a general rule, clients always have the choice between their firm and their advisor and generally remain free to travel on their own initiative. Many jurisdictions require that individuals who carry out certain activities in the financial services sector be licensed, disclosed individually, and meet training and other requirements. . . .