Despite continued efforts to curtail litigation when brokers change firms, departing reps are still being sued, and some say that recent developments suggest the harassment won't stop anytime soon.
A recruitment protocol signed by the major brokerage firms in 2004, which let departing brokers take limited customer contact information, isn't always being honored, according to some attorneys familiar with the situation.
What's more, some observers think that proposed changes to the Securities and Exchange Commission's Regulation S-P, which governs privacy, could also impinge on broker mobility.
