Charles Schwab has won an injunction preventing a former broker from contacting his clients.

Eric O. Wolf agreed to cease calling his former clients for 16 months as part of a Finra arbitration award, but he will not be required to pay monetary penalties.

Wolf, now an advisor with LPL-affiliated Williamsburg Financial Group in Williamsburg, Va., agreed on Jan. 9 to a stipulated injunction preventing him from contacting or using data associated with former clients, according a Finra award decision published Feb 14.

Wolf left Charles Schwab for LPL in 2018 after spending 21 years there, eventually becoming a senior financial consultant.

Schwab filed its claim six months after Wolf left for LPL, in June 2018, arguing that he had committed a breach of contract and misappropriated “trade secrets” and misused “unfair competition,” and seeking the award of compensatory and punitive damages as well as the payment of legal and arbitration fees.

Wolf countered that Schwab should pay his legal fees in the suit.

The arbitration panel chose not to issue any monetary awards, and both Wolf and Schwab agreed that Wolf’s stipulated injunction is a final arbitration award.

The payment of over $10,000 in various arbitration fees, however, falls to the original claimant in the case: Charles Schwab.