Jilted Broker Wins Fees From Offshore Trader On Appeal
Law360, London (February 6, 2019, 7:12 PM GMT) -- A broker who introduced wealthy Greek investors to an offshore derivatives trader is owed compensation after it was cut out of the deals, even though it never disclosed the size of its commission to clients, a London court ruled Wednesday.
A three-judge panel sitting for the Court of Appeal said Collins Stewart CI Ltd. owes unspecified damages for secretly conducting trades with investors introduced by broker Medsted Associates Ltd.
The appellate court partially overturned a lower judge's order barring Medsted from recovering the unpaid fees for failing to disclose just how much it was making on every deal. Instead, the judges...
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