Ex-Barclays stockbrokers allowed to keep bonuses

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

Reuters reports that 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 $9m in damages.

Platt and Urquidi alleged that Barclays reneged on a number of pledges it made to the pair when it recruited them from Credit Suisse in 2012, according to a FINRA arbitration ruling dated Wednesday.

To access the complete Reuters article hit the link below:

Ex-Barclays brokers can keep nearly $4 million in bonus money -panel

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