The article reads:
A Finra arbitration panel on Tuesday ordered UBS AG’s U.S. brokerage unit to pay Credit Suisse $9 million to resolve a “raiding” claim.
The rare claim was filed in December 2015 after Credit Suisse announced two months earlier that it was shuttering its U.S. brokerage operations and encouraging its brokers to join Wells Fargo Advisors.
UBS responded to the announcement with an aggressive recruiting push, hiring just over 100 of Credit Suisse’s 336 brokers, second only to the 111 who joined Wells Fargo, according to a document reviewed by AdvisorHub.
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