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.
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