In Focus

January 18, 2010

anks rolling through Poland" is the way one branch manager described Bank of America's "takeover" of Merrill Lynch. In this kind of "ethnic cleansing", Bank of America's brass is making sure that Merrill reps know it is "our way or the highway".

For those reps (at Merrill or elsewhere) choosing the "highway", we can help protect you in the transition. For example, we protect your reputation as reflected on the Form U-5. Likewise, we protect your business as against TRO's, non-solicitation clauses and covenants not to compete, and incorporate "protocol" principles to facilitate the move. Equally important, we protect your employment rights at your new firm by negotiating the terms of your employment agreement and promissory note agreement, and documenting all those oral promises that so often seem to be forgotten by management after you've transferred your book of business. Let us help you protect your reputation and your business!

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About the Author: James J. Eccleston leads the Securities group at the Chicago law firm of Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C., where he represents investors in recovering investment losses and financial services professionals in disciplinary, employment, and compliance matters. He has held numerous securities licenses and Chicago Bar Association leadership positions and serves as an arbitrator and mediator. He is a recipient of Martindale-Hubbell's highest rating (AV) for legal ability and ethics and is named to the Illinois Super Lawyer and Leading Lawyer lists.

JEccleston@snsfe-law.com, 312.621.4400, www.snsfe-law.com, www.financialcounsel.com