Ex-Wells Fargo Adviser Fights $1.6M FINRA Award At 3rd Circ.

By Jeannie O'Sullivan (November 17, 2021, 4:00 PM EST) -- A former Wells Fargo Advisors LLC employee urged the Third Circuit on Wednesday to undo a $1.6 million Financial Industry Regulatory Authority arbitration award the company won in a commission dispute, citing public policy targeting illegal employment contract terms.

Even though Christopher N. Caputo won't have to repay the commission since the obligation was discharged in his bankruptcy, the arbitration award still represents an unlawful commission clawback practice triggered when employees leave the company within 10 years of earning it, a three-judge panel heard during an oral argument in Philadelphia. Caputo alleges he only left the company because he was fired without...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!