Arbitration over employment agreement nets adviser $267,000
Finra says broker Francis Mitchell and Coastal Equities owe each other money.
In a Finra arbitration in which both the broker and the broker-dealer claimed breach of contract, Francis G. Mitchell has been awarded $784,800 and the firm — Coastal Equities — $517,575, for a net of $267,225 to the broker.
The case involved claims and counterclaims by the firm and Mr. Mitchell, who now is affiliated with Loewen Ondaatje McCutcheon USA, over the terms of an employment contract and a dispute about a description of how Mr. Mitchell’s employment with the firm ended.
Mr. Mitchell was employed by Coastal Equities from 2014 to 2015. He began his career at SEI Financial Services in 1984 and in 1988 moved to Trading Partners, where he stayed for 21 years. He then worked for three firms before joining Coastal Equities.
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