TD BANK PLEADS GUILTY TO CONSPIRACY TO COMMIT MONEY LAUNDERING, FINED $3 BILLION

Practice Area: Connie Shannon

TD BANK PLEADS GUILTY TO CONSPIRACY TO COMMIT MONEY LAUNDERING, FINED $3 BILLION

Canada-based TD Bank pleaded guilty to conspiracy to commit money laundering. The bank is the largest to do so and will pay approximately $3 billion in a settlement with U.S. authorities who said that the financial institution’s lax practices allowed significant money laundering over multiple years. “TD Bank created an environment that allowed financial crime…
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RIPENESS AND THE DUTY TO INDEMNIFY IN ALABAMA

The general rule in Alabama is that a duty to indemnify cannot be determined before liability is established. But are there exceptions to that rule? In James Snell v. United States Insurance Co., 102 F.4th 1208 (11th Cir. 2024), the Eleventh Circuit weighed in and unequivocally answered “yes.” Snell involved coverage under a commercial general…
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CHANGES TO GEORGIA CODE § 43-15-23 STRENGTHENING ENGINEERING FIRM ACCOUNTABILITY

Georgia made some notable amendments to Georgia Code § 43-15-23 – which governs the licensure and certification of engineering firms – introducing several key changes that strengthened the regulatory framework for engineering firms in the state. Under the previous law, firms were required to obtain a certificate of authorization from the Georgia State Board of…
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EPA DIRECT RULE CHANGES COMPLIANCE DATES FOR REPORTING DATA RELATED TO MANUFACTURE AND IMPORT OF PFAS UNDER SECTION 8(a)(7) OF THE TOXIC SUBSTANCES CONTROL ACT

On September 5, 2024, the EPA issued a direct final rule related to a rule previously published in the Federal Register in October 2023, which requires the reporting of data related to the manufacture or import of Perfluoroalkyl and Polyfluoroalkyl Substances (“PFAS”). The new direct final rule will delay the reporting period for records and…
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SEC FINES NINE RIA’s FOR MARKETING RULE VIOLATIONS

The Securities and Exchange Commission (“SEC”) has fined nine registered investment advisors (“RIA”) which purportedly violated the SEC’s Marketing Rule. In a statement, the SEC announced it has settled charges against RIAs that allegedly distributed advertisements containing untrue or unsubstantiated claims, as well as testimonials, endorsements, or third-party ratings without the required disclosures. According to…
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SUPREME COURT ISSUES STAY OF EPA’S GOOD NEIGHBOR PLAN

On June 27, 2024 the Supreme Court of the United States (“SCOTUS”) granted emergency applications by several states seeking a stay of the Environmental Protection Agency’s (“EPA”) Good Neighbor Plan pending judicial review. The Good Neighbor Plan stems from the EPA’s interpretation of ozone pollution requirements in the Clean Air Act requiring “upwind” states to…
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OSHA PROPOSES WORKPLACE HEAT SAFETY RULE

The Department of Labor’s Occupational Safety and Health Administration (“OSHA”) announced a proposed rule in July 2024 to regulate heat-related hazards in the workplace. According to OSHA, heat is the leading cause of death in the U.S., and the proposed rule seeks to protect employees who work in warm climates from hazards associated with high…
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