The Securities and Exchange Commission has proposed new regulations that could be disruptive to Financial Advisors. There are currently 12 proposals and 26 more being discussed. One such proposal seeks to address the practice of “greenwashing”, which refers to firms or companies claiming to abide by ESG principles when they are actually not. The proposed…
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In A. Alexis Varela, Inc. v. Pagio, No. 5D21-2077, 2022 WL 1592482 (Fla. Dist. Ct. App. May 20, 2022), the Florida Fifth District Court of Appeal reversed a trial court’s order dismissing a contractor’s lien foreclosure claim. The Court of Appeal stated that the trial court erred in computing the deadline for the contractor to…
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On June 15, 2022, the U.S. Environmental Protection Agency (EPA) released new drinking water health advisories for per- and polyfluoroalkyl substances (PFAS). The EPA also announced $1 billion in funding to address PFAS and other emerging contaminants in drinking water. PFAS have been linked to infertility, thyroid problems, and several types of cancer. Since the…
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On June 6, 2022, the United States Supreme Court issued a decision that certain airline employees are exempt from the Federal Arbitration Act (“FAA”), as they are considered to be a “class of workers engaged in foreign or interstate commerce”. See Southwest Airlines Co. v. Saxon, No. 21-309 (June 6, 2022). The FAA exempts “contracts…
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In KB Home Fort Myers LLC v. Taishan Gypsum Co., No. 2D21-384, 2022 WL 1099385 (Fla. Dist. Ct. App. Apr. 13, 2022), Florida’s Second District Court of Appeal reversed a trial court’s decision to vacate an $18 million default judgment against a supplier that sold defective drywall. The Court of Appeal reversed the trial court…
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FINRA has announced that it has fined Wefunder and StartEngine Capital for failure to comply with various securities rules and laws designed to protect crowdfunding investors. Wefunder was fined $1.4 million for violations that occurred from 2016 to 2021. FINRA found the company exceeded the scope of its permitted activities by raising $20 million in…
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On May 5, 2022, Attorney General Merrick Garland and EPA Administrator Michael Regan released a memorandum entitled: “Actions to Advance Environmental Justice.” The memorandum from the Office of the Attorney General announces three actions to “secure environmental justice for all Americans.” First, the Justice Department issued a comprehensive environmental justice enforcement strategy to guide the…
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The United States Supreme Court recently held that emotional distress damages are not recoverable in private actions to enforce statutes authorized by the Spending Clause of the United States Constitution. Cummings v. Premier Rehab Keller, P.L.L.C., No. 20-219 (Apr. 28, 2022). Statutes authorized by the Spending Clause include the Rehabilitation Act, Title IX of the…
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North Carolina’s Governor Roy Cooper signed Session Law 2022-1 early 2022, which amended and revised North Carolina statutes applicable to public construction projects within the state. Beginning March 1, 2022, the amendments and revisions went into effect, which serve to clarify and update the statutory provisions relevant to the design-build public contracting process. Changes to…
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In Glynn Env’t Coal., Inc. v. Sea Island Acquisition, LLC, 26 F.4th 1235 (11th Cir. 2022), environmentalist Jane Fraser (“Fraser”) alleged that Sea Island Acquisition, LLC (“Sea Island”) filled wetlands with outside materials, diminishing her aesthetic interest in recreation and enjoyment of the natural beauty of the wetland. The Eleventh Circuit Court of Appeals held…
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