FINRA Charges Wintrust, Broker $1.5 Millon for Violating Noncompete Covenant

The Financial Industry Regulatory Authority (FINRA) charged broker Neil Moscicki and his firm, Wintrust Wealth Management, $1.5 million in damages to be paid to BMO Harris Financial Advisors. Moscicki and the firm were accused of seeking to grab a large portion of the firm’s clients before Mr. Moscicki quit. According to a FINRA arbitration award document, BMO claimed unfair competition and raiding as well as tortious interference with contracts it had with customers. Also according to the award document, Mr. Moscicki began contacting all the customers he served at BMO before resigning in July 2015. Before joining Wintrust, the firm offered him a forgivable loan in exchange for transferring those clients. Mr. Moscicki worked in Roselle, Illinois.

Mr. Moscicki was registered with Morgan Stanley in Purchase, New York from March 2000 until June 2002, Harrisdirect LLC in Jersey City, New Jersey from July 2002 until December 2005 and BMO Harris Financial Advisors in Roselle, Illinois from December 2005 until August 2015. He is currently registered with Wayne Hummer Investments (Wintrust) in Roselle and has been since July 2015. We are securities lawyers based in Chicago, Illinois and we take securities arbitration cases on a contingency fee basis in order to help investors recover their money losses. Please call today. The call is free with no obligation. 312-332-4200.

CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information