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Former Barclays brokers win case to keep US$4m in signing bonus

Published Sun, Feb 22, 2015 · 09:50 PM
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New York

TWO former Barclays stockbrokers can keep nearly US$4 million in signing bonuses, an arbitration panel has ruled, handing down a rare rebuke of a controversial recruiting practice common among brokerage firms.

Barclays had tried to claw back the bonuses from brokers Ileana Platt and Rafael Urquidi after the pair filed a claim with Financial Industry Regulatory Authority's (Finra) arbitrators, seeking more than US$9 million in damages.

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