Despite claims that UBS provided an "inhospitable work environment," an ex-advisor from the firm was ordered to pay his former employer $300,000 by a FINRA arbitration panel earlier this month.

The panel was unconvinced by advisor Michael Hadden's concerns, and found him liable for breach of employment contract and unjust enrichment. According to FINRA records, UBS sought damages because Hadden allegedly failed to honor contractual obligations under the terms of two promissory notes that were due after he quit his job on Nov. 3, 2011. He had joined the Swiss-owned firm in June 2009, according to FINRA records.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access