Representative’s ‘fate was sealed before she was heard’
The Tribunal found both that the process was unfair and that the FSP had not established dishonesty, recklessness, or lack of fitness and propriety.
#restraintoftrade
FSP ‘cannot sidestep’ restraint question in dishonesty case
The Tribunal finds that the alleged misrepresentation, non-disclosure, and materiality all depended on the contractual issue the FSP declined to establish.
Restraints of trade: What financial services businesses need to get right
Case law highlights the drafting, evidence, and settlement pitfalls that can determine whether valuable client relationships and confidential information remain protected.
Retiring broker’s move to rival FSP was not dishonest, Tribunal finds
The source of an obligation does not determine whether disputed conduct amounts to genuine fit-and-proper misconduct.
Labour Appeal Court draws a firm line: dismissal does not void a restraint of trade
The Labour Appeal Court confirms that termination – even for misconduct – does not extinguish a restraint of trade, unless tainted by fraud or bad faith.
Risk manager’s restraint of trade remains even while appeal is pending
Allowing an appeal to suspend the restraint would render the firm’s contractual protection meaningless, as the restraint period could expire before an appeal is heard.
Terms of a restraint of trade must be clearly set out
Three recent judgments in employment disputes underscore that courts will enforce only those restraint-of-trade clauses that are drafted with precision, protect a genuine employer interest, and strike a fair balance between competition and individual freedom
Dismissal may void restraint of trade, says Labour Court
A recent judgment suggests employers may lose the right to enforce restraints of trade when they terminate staff for misconduct.
Agreement can’t override an FSP’s duty to initiate debarment proceedings
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
High Court rules against financial firm in restraint of trade dispute
The FSP failed to prove the existence of a protectable or that the restraint had been breached.
Court enforces restraints of trade in dispute between wealth management firms
The judgment shows that ‘reasonable apprehension’ can tip the scales in favour of enforcing trade restraints and confidentiality agreements.
New Labour Court rules take effect: what you need to know
The new Labour Court and Labour Appeal Court rules bring significant procedural changes to streamline processes and tackle case backlogs.
Restraints of trade: important principles for FSPs and advisers
The Labour Court upholds AdviceWorx’s application to enforce its restraint agreements against advisers who joined Wealth Associates.
Labour Court upholds restraint of trade, warning against confidentiality breaches
Two insurance brokers found themselves under the scrutiny of the Labour Court, as they were called to account for soliciting clients from their previous employer.
