Commentary: Workplace Issue: For Reservist

Summary

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In a case of first impression, the U.S. Court of Appeals for the Second Circuit found that the Uniform Services Employment and Reemployment Rights Act required Wachovia Securities LLC to consider commission-based financial adviser Michael Serricchio's pre-service book of business in determining the appropriate post-service re- employment position, so that it would have comparable seniority, status and pay to the position the Air Force reservist would have had but for his deployment to Iraq (Serricchio v. Wachovia Sec. LLC, 2d Cir. No. 10-1590, 9/13/11).

Serricchio served as a financial adviser for Prudential Securities for 11 months before he was called to active duty in September 2001. Wachovia Securities subsequently assumed Prudential's retail brokerage operations.

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Extract

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Commentary: Workplace Issue: For Reservist

Prior to his deployment, Serricchio claimed he opened more than 130 client accounts and managed, with a partner, more than $...

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