BTIG Investment Banker’s Job Retaliation Claims Stay in Court

BTIG LLC failed to convince a California appeals court it can force a former investment banker to arbitrate claims he was fired for complaining about anti-Semitic comments about a client and other discrimination.

The global financial services firm pointed to the Form U-4—Uniform Application for Securities Industry Registration or Transfer—Matthew McLeod signed when he was hired, which contained a mandatory arbitration clause.

But Financial Industry Regulatory Authority rules, which require all employees to sign a U-4, also state that the form’s arbitration clause doesn’t typically apply to claims alleging violation of an employment bias statute, the California Court of Appeal ...