Landmark Legal Precedent For Budding Frauds

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"Eric is pleased with the result," said Zachary Johnson, a lawyer representing the Morgan Stanley broker convicted of securities fraud said of the decision by FINRA that allowed his client to keep his multi-million dollar signing bonus. A testy Morgan Stanley was apparently less pleased.

“We are obviously disappointed with the result, but the fact of the matter is that once the arbitration panel rules, there are not many other options for us to pursue,” said Morgan Stanley spokeswoman Christine Pollak.

Two Brokers Convicted Of Fraud Can Keep Bonuses [Bloomberg]

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