Certainty or dismay? Two views on restrictive covenants

TISA’S VIEW Malcolm Small, director of policy, TISA "Recent court cases have brought to the fore the complex situations that can arise when financial advisers move between firms, when one firm is bought by another or indeed, as we saw recently, when an advisory firm goes into administration. "Those cases have also demonstrated the need for non-solicitation and non-dealing clauses in such covenants between individual advisers and firms to be very robust indeed if they are to be effective in the marketplace. "At their best, these covenants can provide certainty for all concerned – i...