Despite indications that it would join The Broker Protocol last year when it acquired Merrill Lynch, BofA has yet do so. The Protocol, which has been frequently discussed in this blog, allows departing brokers/advisors leaving a firm to avoid claims for breach of non-compete or non-solicit agreements.

A Merrill Lynch spokesman has indicated that Merrill

                        

In a recent non-compete decision, Federal District Court Judge Steven Robinson denied an injunction sought by IBM to keep a former vice-president, Steven Johnson, from going to work for Dell.  The court rejected IBM’s contention, that Johnson had access to trade secrets:

The court believes . . . that IBM has overstated its case.  Mr. Johnson does not

Merrill Lynch and Bank of America appear to have resolved the non-compete issues discussed in my last entry:

To: All Merrill Lynch and BAI financial advisors
On October 24, Bank of America and Merrill Lynch announced transition programs for retaining financial advisors. Today, Bank of America and Merrill Lynch are pleased to announce a plan

After Bank of America (“BofA“) purchased Merrill Lynch it put on the full-court press to keep one of Merrill’s most important assets, its brokers. What has resulted is “The Advisor Transition Program (“ATP”)”, which provides financial incentives for brokers who remain following the merger. Reportedly, if a broker leaves during the seven year