Author Info for Bressler, Amery & Ross, P.C.

Jacqueline Aleman

DOJ Brings Criminal Enforcement Actions related to No-Poaching and Wage-Fixing Agreements

Employers who have entered into “no-poaching” agreements may find themselves criminally indicted for violating U.S. antitrust laws. Following up on previously issued guidance from the U.S. Department of Justice (“DOJ”) and U.S…more

Department of Justice (DOJ), Enforcement Actions, Federal Trade Commission (FTC), No-Poaching, Wage and Hour

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Ryan Allen

Return of the Vaccine Mandate: Sixth Circuit Dissolves Stay on Enforcement of OSHA’s Emergency Temporary Standard, Will be Reviewed by the U.S. Supreme Court

As noted in our last client alert regarding the status of OSHA’s Emergency Temporary Standard (“ETS”), found here, the Sixth Circuit was designated to review all challenges to the ETS. On December 17, 2021, the Sixth Circuit…more

Coronavirus/COVID-19, Employer Mandates, OSHA, Vaccinations, Workplace Safety

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Taylor Anderson

FINRA Amends Rule 2165 to Further Protect Seniors and Vulnerable Investors from Financial Exploitation

On February 15, 2022, FINRA announced the adoption of certain amendments to FINRA Rule 2165, a rule aimed at preventing financial exploitation of seniors and specified adults. The amendments now allow member firms to place a…more

Elder Issues, Exploitation, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Safe Harbors

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Samantha Baccaro

DOBI Bulletin No. 24-05: Expansion of Unwinding Special Enrollment Period; Six-Month Guaranteed Issue Right for Medicare Supplement Plans

The New Jersey Department of Banking and Insurance (DOBI) issued Bulletin 24-05 on May 14, 2024 updating Bulletin 24-03 to expand the unwinding special enrollment period and clarify the guaranteed issue period for Medicare…more

Children's Health Insurance Program (CHIP), Health Insurance, Medicaid, Medicare, Medicare Part B

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Taylor Bandy

Older Adults Fall Victim to Government Impersonation Scams at Rates Higher than Previously Thought

A recent research study published in JAMA Network Open suggests that older adults – including many who are not cognitively impaired – may be falling victim to “Government Impersonation” scams at a rate higher than previously…more

Elder Issues, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Fraud, Scams

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Frank Barnes III

Supreme Court Clarifies Mandatory Stay Requirement Under the Federal Arbitration Act

On May 16, 2024, the Supreme Court of the United States issued a unanimous decision in Smith v. Spizzirri. This decision brings much-needed clarity to the proper procedure for federal courts, when dealing with cases involving…more

Arbitration, Arbitration Agreements, Federal Arbitration Act, Judicial Proceedings, SCOTUS

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Christy Boardman

FINRA Dispute Resolution Update: The More Things Change . . .

As it was for the rest of the world, 2021 was an interesting year for the Financial Industry Regulatory Authority (FINRA). Originally published in American Bar Association’s Securities Litigation section - March 17th, 2022…more

Arbitration, Beneficiary Designations, Coronavirus/COVID-19, Dispute Resolution, Elder Issues

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Andrea Bonvicino

New Jersey Supreme Court to Address Affidavit of Merit Requirement for Vicarious Liability Claims

The New Jersey Supreme Court has affirmed the Appellate Division’s decision that plaintiffs are not required to serve an Affidavit of Merit against defendant health care facilities for claims of vicarious liability arising from…more

Affidavits, Health Care Providers, Healthcare Facilities, Medical Malpractice, Negligence

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Emily Bordens

Be Careful With Non-Disparagement Provisions in Settlements of New Jersey Law Against Discrimination Claims

The Supreme Court of New Jersey recently issued a decision in Savage v. Twp. Of Neptune, (A-2-23)(087229), 257 N.J. 204 (2024) (slip. op.) holding the parties’ non-disparagement provision to be unenforceable as it was found to…more

Confidential Information, Discrimination, Harassment, New Jersey, NJLAD

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Cynthia Borrelli

The New York Department of Financial Services (DFS) considers Regulations to Promote Health Equity

DFS has developed a draft pre-proposal notice regarding proposed amendments to 11 NYCRR 52 (Insurance Regulation 62) which, if adopted, would amend the minimum standards for form, content, and sale of health insurance in New…more

Anti-Discrimination Policies, Electronic Filing, Health Insurance, Insurance Industry, NYDFS

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Stephen Brown

DOL Issues Major OT Rule Change for Salaried Employees

On April 23, 2024, the U.S. Department of Labor issued its Final Rule making major changes in the minimum salary requirements for overtime exempt salaried employees. Specifically, the rule raised the minimum salary threshold…more

Department of Labor (DOL), Highly Compensated Employees, Minimum Salary, Over-Time, Salaried Employees

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David Buffa

ESG Task Force, Emerging Risk Team, Exam Priorities for 2021 and Other Highlights from the SEC

It is clear that environmental, social, and governance (“ESG”) issues will be an “enhanced focus” for the SEC in 2021. See, the regulator’s recent announcement of an ESG task force and the Division of Examinations priorities…more

Broker-Dealer, Digital Assets, Environmental Social & Governance (ESG), Financial Industry Regulatory Authority (FINRA), Financial Services Industry

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Joseph Calabrese

The Tide Rises: Will Biden’s Blue Wave Wash Away Mandatory Arbitration?

Congressional rumblings about outlawing mandatory arbitration clauses are relatively common, but they have not been successful. Ever since a hard-won battle in the 1980s, the industry has been calling the shots about where…more

Arbitration, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Investors, Mandatory Arbitration

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Ronald Campione

The United States Court of Appeals for the Third Circuit Finds that Compensation is a Benefit Payable to Reservists if an Employer Offers that Benefit for Comparable Leave

“Those who serve in the military must also balance civilian life, including time away from a civilian job.” On August 19, 2021, the U.S. Court of Appeals for the Third Circuit issued a decision interpreting the Uniformed…more

Compensation, Military Leave, USERRA

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Megan Cannella

The Corporate Transparency Act – What You Need to Know

If you own or plan to form an LLC, corporation, or similar business entity, you should be aware of the Corporate Transparency Act and its reporting requirements to avoid significant penalties…more

Beneficial Owner, Business Entities, Business Ownership, Corporate Governance, Corporate Transparency Act

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Siena Carnevale

Adult-Use Cannabis Proposed Regulations in New York are Open for Public Comment

On December 14, 2022, the Office of Cannabis Management (“OCM”) published proposed regulations for the implementation of the Marijuana Regulation and Taxation Act of New York in the state register. The proposed regulations…more

Cannabis Products, Marijuana, Marijuana Related Businesses, New York, Regulatory Oversight

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Eric Chase

Recent Decisions in New York and Ohio Signal that Courts and Agencies are Diligently Enforcing Laws that Protect Franchised Auto Dealers from Unreliable Factory Performance Metrics

Two recent decisions in New York and Ohio, respectively, should – but likely will not – motivate auto manufacturers to abandon their reliance upon provably undependable “metrics” to evaluate dealers’ retail sales performance. …more

Automotive Industry, Car Dealerships, Dealers, Franchises, Manufacturers

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Kenneth Cohen

Adverse Estate Tax Impact when a Redemption Agreement is used to Purchase Deceased Shareholder’s Shares

In the recent case, Connelly v. United States, 602 U.S. (2024) (slip op.) the U.S. Supreme Court unanimously ruled that life insurance proceeds received by a closely held corporation which is used to fund the redemption of a…more

Business Entities, Business Succession, Buy-Sell Agreements, Closely Held Businesses, Connelly v United States

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Justin Condit

What Employers Need to Know about the Recently Enacted Amendments to the NJ WARN ACT

The New Jersey WARN Act (“NJ WARN Act”) generally imposes certain obligations on employers before conducting a mass layoff or plant closure. Back in January of 2020, New Jersey made several amendments to the NJ WARN Act;…more

Employer Liability Issues, Hiring & Firing, Layoff Notices, Layoffs, New Jersey

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Sean Coughlin

SEC Enforcement Chief Issues Reminder Concerning Compliance Officer Liability

On Oct. 24, 2023, Gurbir Grewal, the Director of the U.S. Securities and Exchange Commission’s (SEC) Enforcement Division, spoke to the NY Bar Association Compliance Institute about his views concerning faltering public trust of…more

Banking Sector, Chief Compliance Officers, Compliance, Financial Institutions, Financial Services Industry

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Frank Cuccio

U.S. Supreme Court Mandates District Court Stay on Arbitration Appeals

On June 23, 2023, the Supreme Court published a slip opinion decision in Coinbase, Inc. v. Bielski, No. 22-105 (U.S. June 23, 2023), which resolved a circuit split over whether a district court must stay proceedings pending…more

Arbitration, Automatic Stay, Coinbase Inc v Bielski, Federal Arbitration Act, Motion to Compel

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Benjamin DiLorenzo

NJ Appellate Division Holds that no Explicit Waiver is Needed for Enforcement of an Arbitration Provision between Sophisticated Parties

In a per curiam opinion issued February 8, 2023 in Cnty. of Passaic v. Horizon Healthcare Servs., Inc., No. A-0952-21, 2023 N.J. Super. LEXIS 10, at *3 (App. Div. Feb. 8, 2023), the New Jersey Appellate Division held that an…more

Arbitration, Arbitration Agreements, Commercial Contracts

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MaryJane Dobbs

Just Trucking Along: New Jersey Federal Court Rules Truck Drivers Were Misclassified as Independent Contractors

On June 9, 2022, the New Jersey District Court in Portillo v. Nat’l Freight, Inc., 15-cv-07908, 2022 U.S. District. LEXIS 103186 (D.N.J. June 9, 2022) determined that roughly 250 drivers for trucking company National Freight,…more

ABC Test, Commercial Truck Drivers, Employee Definition, Independent Contractors, Misclassification

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Krista Elsasser

Appraisal Reversed in Second DCA

On October 27, 2021, the Second District Court of Appeal reversed a trial court order compelling appraisal that had been issued by Judge Elizabeth Krier of Collier County in American Coastal Insurance Company v. Ironwood, Inc.,…more

Appraisal, Insurance Industry, Insurance Litigation

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Samantha Epstein

Appraisal Reversed in Second DCA

On October 27, 2021, the Second District Court of Appeal reversed a trial court order compelling appraisal that had been issued by Judge Elizabeth Krier of Collier County in American Coastal Insurance Company v. Ironwood, Inc.,…more

Appraisal, Insurance Industry, Insurance Litigation

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Christopher Evans

Is an Assignee’s Late-Reported Hurricane Irma Claim Barred by the Statute of Limitations in Florida Statute § 627.70132?

Since 2011 and prior to the enactment of SB76, Florida Statute § 627.70132 provided a limitation for reporting hurricane and windstorm claims to an insurer. Specifically, the statue required that any claim, supplemental claim,…more

Hurricane Irma, Insurance Industry, Insurance Litigation, Statute of Limitations

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Joel Everest

SEC Approves Overhaul of FINRA Expungement Process

On April 12, 2023, the SEC approved FINRA’s proposed expungement overhaul, a process that started in earnest in December 2017. See Release No. 34-97294; File No. SR-FINRA-2022-024. The latest rule changes, which FINRA submitted…more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Financial Institutions, Financial Services Industry

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Seth Feintuch

Is an Assignee’s Late-Reported Hurricane Irma Claim Barred by the Statute of Limitations in Florida Statute § 627.70132?

Since 2011 and prior to the enactment of SB76, Florida Statute § 627.70132 provided a limitation for reporting hurricane and windstorm claims to an insurer. Specifically, the statue required that any claim, supplemental claim,…more

Hurricane Irma, Insurance Industry, Insurance Litigation, Statute of Limitations

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Lauren Fenton-Valdivia

New Jersey Supreme Court to Address Affidavit of Merit Requirement for Vicarious Liability Claims

The New Jersey Supreme Court has affirmed the Appellate Division’s decision that plaintiffs are not required to serve an Affidavit of Merit against defendant health care facilities for claims of vicarious liability arising from…more

Affidavits, Health Care Providers, Healthcare Facilities, Medical Malpractice, Negligence

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Logan Fisher

Older Adults Fall Victim to Government Impersonation Scams at Rates Higher than Previously Thought

A recent research study published in JAMA Network Open suggests that older adults – including many who are not cognitively impaired – may be falling victim to “Government Impersonation” scams at a rate higher than previously…more

Elder Issues, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Fraud, Scams

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Tamar Gongadze

FINRA’s 2023 Report Increases Attention for Anti-Money Laundering Regulations

On Jan. 10, 2023 the Financial Industry Regulatory Authority (FINRA) published its 2023 Report on the Examination and Risk Monitoring Program. This year, for the first time, FINRA introduced a financial crimes section in the…more

Anti-Money Laundering, Compliance, Financial Industry Regulatory Authority (FINRA), Risk Management

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Jessica Gonzalez

New York Legalizes Adult Use Cannabis

After years of failed attempts, on March 31, 2021, Governor Cuomo signed into law the Marijuana Regulation and Taxation Act (“MRTA”) legalizing adult use cannabis for adults over the age of 21. The MRTA provides for a regulatory…more

Cannabis Products, Governor Cuomo, Legalization, Marijuana, Marijuana Regulation & Taxation Act (MRTA)

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Beth Graham

11th Circuit Reminds Employers to Provide Injured Employees with FMLA Rights Separate and Apart from the Workers’ Compensation Process

In a recent decision, the U.S. Court of Appeals for the Eleventh Circuit determined that an employer could be found liable for violating the Family Medical Leave Act (“FMLA”) when it failed to provide an employee with notice of…more

Corporate Counsel, Employee Rights, Employees, Employer Responsibilities, Family and Medical Leave Act (FMLA)

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Andrea Greene Wells

Expungement in the States’ Crosshairs

State securities regulators have long expressed reservations about the use of the expungement remedy. Recently, we have observed a marked increase in the use of alternative (read: aggressive) efforts by states to impact the…more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), State Securities Regulators

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Naomi Gulama

New Jersey’s “ABC Test” Does Not Apply to Real Estate Salespersons under the WPL

In a recent decision, the New Jersey Appellate Division held in Kennedy v. Weichert Co., No. A-0518-19, __N.J.__ (App. Div. Jan. 30, 2023) (slip. op.), that the “ABC Test” (described here) does not apply when determining whether…more

ABC Test, Employee Definition, Independent Contractors, New Jersey

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David Hantman

Updates to CFP Board’s Procedural Rules

On May 16, 2023, the Certified Financial Planner Board of Standards, Inc. (the “CFP Board”) adopted revised Procedural Rules addressing procedures for investigating alleged misconduct and enforcing the CFP Board’s Code of Ethics…more

Corporate Misconduct, Ethics, Financial Services Industry, Investigations

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Rima Hartman

Supreme Court Clarifies Low Threshold of Harm that Must Be Shown in Title VII Employment Discrimination Claims

Introduction - The nation’s highest court has lowered the bar for involuntarily transferred employees to make the necessary showing of harm to make out a case of Title VII employment discrimination…more

Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Discrimination, Employment Litigation

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Michael Hensley

New Jersey Supreme Court to Address Affidavit of Merit Requirement for Vicarious Liability Claims

The New Jersey Supreme Court has affirmed the Appellate Division’s decision that plaintiffs are not required to serve an Affidavit of Merit against defendant health care facilities for claims of vicarious liability arising from…more

Affidavits, Health Care Providers, Healthcare Facilities, Medical Malpractice, Negligence

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Vivian Isaboke

Privacy Alert: Pandora Papers

The "Pandora Papers", a global investigation by the International Consortium of Investigative Journalists (“ICIJ”), revealed on Sunday the latest and largest financial data leak in history. With over 11.9 million confidential…more

Cybersecurity, Data Breach, Financial Services Industry, Pandora Papers, Personal Information

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Josh Jones

The FBI Warns Seniors of Timeshare Scams by Mexican Cartels

The Federal Bureau of Investigation (FBI) recently issued a warning about scams involving timeshares that have senior Americans as the primary victim. The FBI noted that timeshare fraud poses a significant risk to older…more

Elder Issues, FBI, Fraud, Scams, Timeshare

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Harrison Kaufman

Adult-Use Cannabis Proposed Regulations in New York are Open for Public Comment

On December 14, 2022, the Office of Cannabis Management (“OCM”) published proposed regulations for the implementation of the Marijuana Regulation and Taxation Act of New York in the state register. The proposed regulations…more

Cannabis Products, Marijuana, Marijuana Related Businesses, New York, Regulatory Oversight

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Mark Knoll

February 1, 2021 Deadline: Mandatory Registration for New York Investment Advisers

On December 1, 2020, the New York State Department of Law finalized proposed amended regulations to the New York Investment Advisory Act, 13 N.Y.C.R.R. Section 11, requiring investment adviser representatives (“IAR”) who engage…more

Financial Industry Regulatory Authority (FINRA), Investment Adviser, Investors, NYDOL

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Nikolas Komyati

FINRA’s 2023 Report Increases Attention for Anti-Money Laundering Regulations

On Jan. 10, 2023 the Financial Industry Regulatory Authority (FINRA) published its 2023 Report on the Examination and Risk Monitoring Program. This year, for the first time, FINRA introduced a financial crimes section in the…more

Anti-Money Laundering, Compliance, Financial Industry Regulatory Authority (FINRA), Risk Management

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Tanya Lambrechts

February 1, 2021 Deadline: Mandatory Registration for New York Investment Advisers

On December 1, 2020, the New York State Department of Law finalized proposed amended regulations to the New York Investment Advisory Act, 13 N.Y.C.R.R. Section 11, requiring investment adviser representatives (“IAR”) who engage…more

Financial Industry Regulatory Authority (FINRA), Investment Adviser, Investors, NYDOL

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Summer Lange

The Future of Mandatory Arbitration of Sexual Assault and Harassment Claims

On February 10, 2022, the U.S. Senate passed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021 (H.R.4445), previously passed by the House of Representatives on February 7, 2022. The Act, if…more

Arbitration, Arbitration Agreements, Employer Responsibilities, Federal Arbitration Act, Sexual Harassment

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Jennifer Leon

Florida’s Third District Court of Appeal Affirms Summary Judgment Against Water Mitigation Company and Enforces Flat-Rate Policy Endorsement for Mitigation Services

On April 7, 2021, Florida’s Third District Court of Appeal issued a per curiam opinion that affirmed summary judgment in favor of People’s Trust Insurance Company and against the water mitigation company, All Insurance…more

Insurance Industry, Insurance Litigation, Policy Endrosements, Property Insurance, Summary Judgment

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Kalie Maniglia

Florida’s Third District Court of Appeal Overturns AAA Arbitration Award based on Claimant’s Failure to Affirmatively Plead Claim for Relief

On June 12, 2024, Florida’s Third District Court of Appeal vacated a $1.5 million legal malpractice arbitration award, holding the arbitrator unfairly considered an unpled theory of relief when rendering an award in favor of…more

Arbitration, Arbitration Awards, Arbitrators, Commercial Litigation, Florida

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Diana Manning

NJ Appellate Division Holds that no Explicit Waiver is Needed for Enforcement of an Arbitration Provision between Sophisticated Parties

In a per curiam opinion issued February 8, 2023 in Cnty. of Passaic v. Horizon Healthcare Servs., Inc., No. A-0952-21, 2023 N.J. Super. LEXIS 10, at *3 (App. Div. Feb. 8, 2023), the New Jersey Appellate Division held that an…more

Arbitration, Arbitration Agreements, Commercial Contracts

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Jed Marcus

Court Determines Federal Arbitration Act No Longer Preempts New Jersey Law Preventing Mandatory Arbitration in Sexual Harassment Cases

On May 25, 2022, the Essex County Superior Court in Sellino v. Galiher, et al., ESX-L-8519-21 (N.J. Super. Ct. May 25, 2022) denied the defendants’ motion to compel arbitration in a sexual harassment case, determining that the…more

Arbitration, Arbitration Agreements, Discrimination, Federal Arbitration Act, Mandatory Arbitration Clauses

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Eric Martin

Florida’s Third District Court of Appeal Affirms Summary Judgment Against Water Mitigation Company and Enforces Flat-Rate Policy Endorsement for Mitigation Services

On April 7, 2021, Florida’s Third District Court of Appeal issued a per curiam opinion that affirmed summary judgment in favor of People’s Trust Insurance Company and against the water mitigation company, All Insurance…more

Insurance Industry, Insurance Litigation, Policy Endrosements, Property Insurance, Summary Judgment

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W. Preston Martin

Expungement in the States’ Crosshairs

State securities regulators have long expressed reservations about the use of the expungement remedy. Recently, we have observed a marked increase in the use of alternative (read: aggressive) efforts by states to impact the…more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), State Securities Regulators

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Regina Pepe Martorana

FINRA’s September 2021 Exam Letter

Last week FINRA announced a new inquiry into firms’ use of social media and “influencers” to attract clients. After the well-publicized market volatility in GameStop, which was bolstered by an online influencer known as…more

Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Regulation S-P, Social Media

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Thomas McHugh

Cultivating Meaningful DE&I: The Positive Impact of Pro Bono

In this episode of On Record PR, we go on record with Thomas McHugh, an associate at Bressler, Amery & Ross and a member of the firm’s diversity, equity, and inclusion committee…more

Business Development, Diversity and Inclusion Standards (D&I), Pro Bono, Young Lawyers

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Patrick Medeo

Regulation BI: Key Perspectives from Recent Report by State Regulators

The North American Securities Administrators Association (NASAA) recently released a report prepared by its Broker-Dealer Section Committee (Committee) presenting the findings of Phase II (B) of its National Examination…more

Best Practices, Broker-Dealer, Compliance, ETFs, Investment Adviser

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Louis Mendez

Debt Collectors Must Be Mindful of Communications with Third Parties Regarding Consumers in Alabama, Florida, and Georgia

Noting it was a matter of first impression, on April 21, 2021, the Eleventh Circuit held consumers may assert a claim under Section 1692c(b) of the Fair Debt Collection Practices Act (the “FDCPA”) for a debt collector’s…more

Creditors, Data-Sharing, Debt Collection, Debt Collectors, FDCPA

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Jacqueline Meyers

Key Takeaways in the Changing Landscape of Dispute Resolution and the New Age of Virtual Trials

On March 9, 2021, Bressler, Amery & Ross, P.C. hosted its inaugural Hearings in Review webinar on The New Age of Virtual Trials. The panel featured Richard Berry, Executive Vice-President and Director, FINRA Dispute Resolution…more

Arbitration, Financial Industry Regulatory Authority (FINRA), Remote Hearings, Trial Preparation, Trials

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Alexander Middlemiss

Updates to CFP Board’s Procedural Rules

On May 16, 2023, the Certified Financial Planner Board of Standards, Inc. (the “CFP Board”) adopted revised Procedural Rules addressing procedures for investigating alleged misconduct and enforcing the CFP Board’s Code of Ethics…more

Corporate Misconduct, Ethics, Financial Services Industry, Investigations

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Andrew Mount

Arkansas Modifies Its Financial Exploitation Report and Hold Statute

On April 1, 2021, Arkansas modified its law protecting elder and vulnerable adults from financial exploitation. The enacted Arkansas Senate Bill 151 modifies Arkansas’s financial exploitation law, Ark. Code § 23-42-309, by…more

Arkansas, Broker-Dealer, Elder Issues, Exploitation, Financial Institutions

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Patrick Mulligan

11th Circuit Reminds Employers to Provide Injured Employees with FMLA Rights Separate and Apart from the Workers’ Compensation Process

In a recent decision, the U.S. Court of Appeals for the Eleventh Circuit determined that an employer could be found liable for violating the Family Medical Leave Act (“FMLA”) when it failed to provide an employee with notice of…more

Corporate Counsel, Employee Rights, Employees, Employer Responsibilities, Family and Medical Leave Act (FMLA)

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Daniel Murray

Amendments to New York’s Prompt Payment Act

Introduction - On November 17, 2023, amendments to New York’s Prompt Payment Act (the “Act”) were signed into law by Governor Kathy Hochul and effective immediately. The amendments apply to all private construction contracts…more

Construction Contracts, Construction Industry, New York, Prompt Payment

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Kirsten Nowak

Michigan Enacts Broker-Dealer and Investment Adviser Financial Exploitation Law

On December 13, 2023 Michigan became the latest state to enact legislation to protect elder and vulnerable adults from financial exploitation. Effective March 13, 2024, the new law requires broker-dealers and state-registered…more

Broker-Dealer, Elder Issues, Exploitation, Financial Services Industry, Investment Adviser

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Ben Nye

Federal Court Enjoins Enforcement of the Corporate Transparency Act

In an order issued on March 1, 2024, the Federal District Court for the Northern District of Alabama held that the Corporate Transparency Act violates the U.S. Constitution. Congress had enacted the Corporate Transparency Act…more

Beneficial Owner, Constitutional Challenges, Corporate Transparency Act, Financial Crimes, FinCEN

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Christopher Osnato

State Regulators Address Russian Aggression in the Ukraine and Warn Their Regulated Industries to be Prepared

Following on the heels of the New York Department of Financial Services February 25, 2022 letter to regulated entities regarding the “Escalating Situation in Ukraine and the Impact to Financial Sector,” on March 2, 2022,…more

Cybersecurity Information Sharing Act (CISA), Data Protection, Economic Sanctions, Financial Institutions, Governor Murphy

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Nicole Panico

SB76: Florida’s Attempt to Reduce Insurance Litigation and Attract Insurance Carriers

Introduction: On July 1, 2021, Florida’s Senate Bill 76 (“SB76”), which modified several provisions that impact Florida’s property insurance litigation, went into effect. This bill was Florida’s latest attempt to stabilize the…more

Insurance Claims, Insurance Industry, Insurance Litigation, Property Damage, Property Insurance

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Ronak Patel

Alabama Private Fund Advisers: Time to Become Less Private

The Alabama Securities Commission recently issued an Order exempting Alabama based investment advisers to “private funds” from the requirement to register as investment advisers with the ASC…more

Alabama, Asset Management, Compliance, Investment Adviser, Investment Funds

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Matthew Penfield

FTC Bans Non-Compete Agreements

On April 23, 2024, by a 3-2 straight party-line vote, the Federal Trade Commission issued a Final Rule banning virtually all non-compete agreements. The new rule does contain limited exceptions for existing non-compete…more

Competition, Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules

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Leonel Peraza Jr.

SEC Publishes Risk Alert Highlighting Deficiencies Observed During Regulation Best Interest Examinations of Broker-Dealers

It should come as no surprise to financial industry participants that the first Risk Alert published by the SEC’s Division of Examinations (the “Division”) in 2023 relates to Regulation Best Interest (“Reg BI”). The Risk Alert…more

Broker-Dealer, Financial Services Industry, Regulation Best Interest, Risk Alert, Securities and Exchange Commission (SEC)

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Loren Pierce

Adverse Employment Action is Not Required To Establish a Failure To Accommodate Claim Under the NJLAD and Subsequent Bodily Injury Claim is Not Barred By the Workers’ Compensation Act

Following our prior client alert published while this matter was before Appellate Division, the New Jersey Supreme Court has now weighed-in, in Richter v. Oakland Board of Education. On June 8, 2021, the Court formally held…more

Bodily Injury, Disabilities, Failure to Accommodate, New Jersey, NJLAD

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Laura Pizzitola

SEC Approves Overhaul of FINRA Expungement Process

On April 12, 2023, the SEC approved FINRA’s proposed expungement overhaul, a process that started in earnest in December 2017. See Release No. 34-97294; File No. SR-FINRA-2022-024. The latest rule changes, which FINRA submitted…more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Financial Institutions, Financial Services Industry

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Luca Provenzano

Supreme Court Clarifies Low Threshold of Harm that Must Be Shown in Title VII Employment Discrimination Claims

Introduction - The nation’s highest court has lowered the bar for involuntarily transferred employees to make the necessary showing of harm to make out a case of Title VII employment discrimination…more

Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Discrimination, Employment Litigation

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Roxanne Rehm

Florida Adopts Protection of Specified Adults Statute for Financial Institutions

During the 2024 Legislative session, the Florida Legislature passed Senate Bill 556, “Protection of Specified Adults”, which was signed into law by Governor Ron DeSantis on May 28, 2024…more

Elder Issues, Financial Institutions, Financial Services Industry, Florida, Investment Adviser

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Risa Rich

Snow More Liability: New Jersey Supreme Court Upholds “Ongoing Storm” Doctrine

On June 10, 2021, the New Jersey Supreme Court rendered its decision on Angel Alberto Pareja v. Princeton International Properties, (A-4-20) which is the first New Jersey Supreme Court decision since 1983 to opine on a…more

Commercial Property Owners, Liability, NJ Supreme Court, Severe Weather

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Audrey Rizk

FINRA Eyes Crypto Asset Communications

The Financial Regulatory Authority (FINRA) recently identified the “initial themes” observed in a targeted examination of retail communications by member firms with respect to crypto assets. The headline grabbing statistic:…more

Compliance, Cryptoassets, Cryptocurrency, Financial Industry Regulatory Authority (FINRA), Financial Institutions

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Stuart Roberts

Recent NLRB Developments Affecting Severance Agreements And Protecting Complaints Regarding Systemic Racism

Confidentiality and Non-Disparagement Clauses Violate Section 7 Rights - On February 21, 2023, in McLaren Macomb, the National Labor Relations Board (NLRB or the Board) reversed its previous position taken in Baylor University…more

Confidentiality Agreements, NLRA, NLRB, Non-Disparagement Provisions, Section 7

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Kathryn Burfitt Rockwood

FINRA Regulatory Notice 22-18: Digital Signature Forgery and Falsification

On August 3, 2022, FINRA issued Regulatory Notice 22-18 in response to reports of registered representatives and associated persons forging or falsifying customer signatures, or signatures of colleagues or supervisors, through…more

Digital Signature Standards, E-Signatures, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Forgery

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Lilian Rodriguez-Baz

Insurance Litigation Group Scores Appellate Victory with the Fourth District Court of Appeal’s Recent Decision in Jennifer Mezadieu v. Safepoint Insurance Company

On March 26, 2021, the Fourth District issued a ruling in the matter of Jennifer Mezadieu v. Safepoint Insurance Company, which critically cemented the principle that ‘intentionality’ on the part of an insured is not a…more

Denial of Insurance Coverage, Homeowner's Insurance, Insurance Industry, Insurance Litigation, Policy Terms

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Zachary Rosenberg

Cannabis Update: Congress Reintroduces SAFE Banking Act

On April 26, 2023, the Secure and Fair Enforcement Banking Act (“SAFE Banking Act”) was reintroduced in the United States Senate and House of Representatives as a standalone, bipartisan and bicameral bill. The SAFE Banking Act…more

Banking Sector, Cannabis-Related Businesses (CRBs), Financial Institutions, Financial Services Industry, Marijuana

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Bradley Rounsaville

PIABA Lends Support to The Investor Choice Act of 2021

On April 15, 2021, the Public Investors Advocate Bar Association (“PIABA”) issued a statement supporting a bill called the Investor Choice Act of 2021. If enacted, this bill would amend the Securities Exchange Act of 1934, the…more

Investors, Securities Act of 1933, Securities Exchange Act of 1934, SIFMA

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Alex Sabo

Florida Adopts Protection of Specified Adults Statute for Financial Institutions

During the 2024 Legislative session, the Florida Legislature passed Senate Bill 556, “Protection of Specified Adults”, which was signed into law by Governor Ron DeSantis on May 28, 2024…more

Elder Issues, Financial Institutions, Financial Services Industry, Florida, Investment Adviser

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Michael Shifrin

SB76: Florida’s Attempt to Reduce Insurance Litigation and Attract Insurance Carriers

Introduction: On July 1, 2021, Florida’s Senate Bill 76 (“SB76”), which modified several provisions that impact Florida’s property insurance litigation, went into effect. This bill was Florida’s latest attempt to stabilize the…more

Insurance Claims, Insurance Industry, Insurance Litigation, Property Damage, Property Insurance

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Stephen Shine

FINRA’s 2023 Report Increases Attention for Anti-Money Laundering Regulations

On Jan. 10, 2023 the Financial Industry Regulatory Authority (FINRA) published its 2023 Report on the Examination and Risk Monitoring Program. This year, for the first time, FINRA introduced a financial crimes section in the…more

Anti-Money Laundering, Compliance, Financial Industry Regulatory Authority (FINRA), Risk Management

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Joelle Simms

New FINRA Rule 3241 Regulating Representatives Being Named as Beneficiaries of, or Holding Positions of Trust for, Customers Takes Effect February 15, 2021

On February 15, 2021, FINRA’s new Rule 3241 – “Registered Person Being Named a Customer’s Beneficiary or Holding a Position of Trust for a Customer” – becomes effective. The Rule sets forth the newly codified obligations both…more

Beneficiaries, Financial Industry Regulatory Authority (FINRA), Financial Institutions

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Amrit Singh

Arkansas and Hawaii are the Latest States to Increase the Protection of Vulnerable Adults from Financial Exploitation

Arkansas and Hawaii are the latest states to enact laws enhancing the protection of elder and vulnerable adults from financial exploitation. On July 28, 2021, Arkansas’s amendment to its financial exploitation law became…more

Elder Issues, Exploitation, Financial Institutions, Financial Services Industry, Investment Adviser

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Gregory Sparer

FINRA Publishes 2021 Enforcement Priorities and Exam Findings Report

Earlier this week, FINRA published its 2021 Report on FINRA’s Examination and Risk Monitoring Program (the “Report”). The Report, which combines FINRA’s prior publications on regulatory priorities and examination findings,…more

Anti-Money Laundering, Cybersecurity, Digital Assets, Financial Industry Regulatory Authority (FINRA), Form CRS

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Gerd Stabbert, Jr.

The Franchisor-Franchisee Worker Classification Conundrum

A Recent Second Circuit Decision Rejects Franchisees’ Claims that Franchisor’s Deductions from Revenue Violated State Minimum Wage and Anti-Kickback Laws, but Leaves the Door Open for Franchisor-Franchisee Relationships to be…more

Classification, Franchises, Franchisors, Minimum Wage, Wage and Hour

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Pauline Tarife

Attention All Home Improvement Contractors

It is no secret that the market has been consumer friendly over the past couple of years and has caused an uptick in consumer spending on contractors to perform renovations on their homes. However, as the times have slightly…more

Construction Contracts, Construction Industry, Construction Project, New Jersey

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Morgan Thompson

FINRA Publishes “Effective Practices” for Obtaining Trusted Contact Information

On December 15, 2022, FINRA issued Regulatory Notice 22-31 (the “Notice”) to emphasize the importance of obtaining trusted contact information, including a list of “effective practices” firms can use to obtain trusted contact…more

Financial Industry Regulatory Authority (FINRA), Financial Institutions, Financial Services Industry, Trusted Contact Person

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Paola Toro

U.S. Supreme Court Narrows the Scope of the Clean Water Act by Redefining the Definition of “Waters of the United States” and Eliminating Federal Jurisdiction over Certain Wetlands

On May 25, 2023, the United States Supreme Court released its long-anticipated decision in Sackett v. Environmental Protection Agency, which set out to resolve the uncertainty regarding the definition of “Waters of the United…more

Clean Water Act, Environmental Protection Agency (EPA), Navigable Waters, Sackett v EPA, SCOTUS

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Kyle Valente

NJ Appellate Division Holds that no Explicit Waiver is Needed for Enforcement of an Arbitration Provision between Sophisticated Parties

In a per curiam opinion issued February 8, 2023 in Cnty. of Passaic v. Horizon Healthcare Servs., Inc., No. A-0952-21, 2023 N.J. Super. LEXIS 10, at *3 (App. Div. Feb. 8, 2023), the New Jersey Appellate Division held that an…more

Arbitration, Arbitration Agreements, Commercial Contracts

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Edward Velky

New Jersey's Prompt Payment Act

In 2006, New Jersey enacted the “Prompt Payment Act,” codified at N.J.S.A. § 2A:30A-1, et seq. (the “Act” or “PPA”). The Act requires the prompt payment of contractors, subcontractors, sub-subcontractors, and material…more

Compliance, Construction Contracts, Construction Industry, Construction Project, Contractors

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Deanna Vellucci

One Step Closer, Yet Still So Far—Narrowing the Wage Gap

2020 seems to have been the “year that keeps on giving” for most of us (and not in a positive way). However, there is some good news for women lawyers. In a recent article entitled As Partner Compensation Grows, Gender Pay Gap…more

Employer Liability Issues, Equal Pay, Gender Discrimination, Gender Equity, Gender-Based Pay Discrimination

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Jordan Weitberg

Uses of Exculpatory Clauses in Wills and Trusts

In this podcast hosted by American College of Trust and Estate Counsel (ACTEC), Bressler’s Jordan Weitberg and ACTEC Fellow Travis Hayes discuss the use of exculpatory clauses in wills and trusts. Specific topics include the…more

Burden of Proof, Enforceability, Exculpatory Clauses, Fiduciary Duty, Trustees

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Alisha Wilson

Is an Assignee’s Late-Reported Hurricane Irma Claim Barred by the Statute of Limitations in Florida Statute § 627.70132?

Since 2011 and prior to the enactment of SB76, Florida Statute § 627.70132 provided a limitation for reporting hurricane and windstorm claims to an insurer. Specifically, the statue required that any claim, supplemental claim,…more

Hurricane Irma, Insurance Industry, Insurance Litigation, Statute of Limitations

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Katelyn Wilson

Private Placement Offerings are on the Rise — Know your Obligations; FINRA Notice 23-08

On May 9, 2023, FINRA issued Regulatory Notice 23-08 (the “Notice”) to remind members of their obligations when selling private placements (i.e., unregistered securities sold pursuant to safe harbors of the Securities Act of…more

Capital Markets, Financial Industry Regulatory Authority (FINRA), Private Placements, Public Offerings, Securities Act of 1933

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Sarah Yates

Key Takeaways in the Changing Landscape of Dispute Resolution and the New Age of Virtual Trials

On March 9, 2021, Bressler, Amery & Ross, P.C. hosted its inaugural Hearings in Review webinar on The New Age of Virtual Trials. The panel featured Richard Berry, Executive Vice-President and Director, FINRA Dispute Resolution…more

Arbitration, Financial Industry Regulatory Authority (FINRA), Remote Hearings, Trial Preparation, Trials

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Christina Zarcone

Recent NLRB Developments Affecting Severance Agreements And Protecting Complaints Regarding Systemic Racism

Confidentiality and Non-Disparagement Clauses Violate Section 7 Rights - On February 21, 2023, in McLaren Macomb, the National Labor Relations Board (NLRB or the Board) reversed its previous position taken in Baylor University…more

Confidentiality Agreements, NLRA, NLRB, Non-Disparagement Provisions, Section 7

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Hope Zelinger

Insurer’s Counsel Wins One of the First Sixth District Court of Appeals Decisions in Insurance Defense Case

Fort Lauderdale, FL (March 2023) – Bressler, Amery & Ross, P.C. attorneys Hope C. Zelinger and Lilian Rodriguez-Baz successfully represented United Property & Casualty Insurance Company in an insurance defense appeal. This is…more

Appeals, Insurance Claims, Insurance Industry, Insurance Litigation

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