FINRA Orders Ex-Barclays Worker To Pay $3.5M In Loan Row

Law360, New York (November 8, 2012, 4:20 PM EST) -- An arbitration panel of the Financial Industry Regulatory Authority on Tuesday ordered former Barclays Capital Inc. employee Zamir Siddiqi to pay the investment bank $3.5 million in damages, interest and attorneys’ fees over an unpaid promissory note issued in 2008.

The award essentially brings to a close a dispute dating back to May 2010, when Barclays filed a statement of claim with FINRA asserting a breach of contract for money lent to financial adviser Siddiqi in a promissory note he executed in November 2008, according to...
To view the full article, register now.