A Financial Industry Regulatory Authority arbitration board rejected the claim, but nevertheless stipulated that Morgan Stanley must pay Schwab $72,000 for undisclosed reasons.
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Charles Schwab has lost a $15 million arbitration case that alleged Morgan Stanley improperly recruited advisors who held company trade secrets from its San Francisco office. So reports Financial Advisor.
A Financial Industry Regulatory Authority arbitration board rejected the claim, but nevertheless stipulated that Morgan Stanley must pay Schwab $72,000 for undisclosed reasons.