It's Payback Time on Promissory Notes

Posted on November 4, 2009 by Stark & Stark
no picture

Stark & Stark Employment Group Chair, Thomas B. Lewis, authored the article, It's Payback Time on Promissory Notes, for the November 2009 edition of On Wall Street Magazine. The article discusses the recent trend in unhappy advisors seeking new firms in the wake of a down market and their old firm's enforcement of collecting promissory notes.

 

Mr. Lewis states a common misconception that advisors believe their firms will accept 50% repayment of a promissory note, when in reality, this is not the case. Mr. Lewis goes on to discuss the new procedures put in place by the Financial Industry Regulatory Authority (FINRA), the possible defenses advisors could use in promissory note arbitration, and a discussion on how the Protocol for Broker Recruiting will impact the future of promissory note collection.

 

You can read the full article online here.
 

Tags: ,
Trackbacks (0) Links to blogs that reference this article Trackback URL
http://www.njlawblog.com/admin/trackback/164605
Comments (0) Read through and enter the discussion with the form at the end
Post A Comment / Question Use this form to add a comment to this entry.







Remember personal info?
Send To A Friend Use this form to send this entry to a friend via email.