The Financial Industry Regulatory Authority (“FINRA”) has released its 2023 report regarding FINRA’s Examination and Risk Monitoring Program (the “Report”). FINRA’s intent is that the Report be an up-to-date, evolving resource which member firms can use to strengthen their compliance programs. This year’s Report addresses a materially broader range of topics than in prior years….
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In JPC Merger Sub LLC v. Tricon Enterprises, Inc., 2022 WL 17479912 (N.J. Super. Ct. App. Div. Dec. 7, 2022), the Appellate Division of the Superior Court of New Jersey upheld the enforceability of pay-if-paid provisions in subcontracts so long as the terms are “clear” and “unambiguous.” Pay-if-paid provisions mean a subcontractor gets paid by…
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On January 5, 2023, the Federal Trade Commission (“FTC”) proposed a rule to ban non-compete agreements between employers and workers. The proposed rule would prevent employers from requiring workers to agree to contract clauses that prevent the worker from seeking or accepting employment with another employer or operating a business after the conclusion of the…
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The statute of repose is a powerful defense for a design or construction professional, since most provide an absolute bar to claims filed outside the repose period. Tennessee’s statute of repose was recently found to apply to contractual indemnity claims, when the United States District Court for the Middle District of Tennessee granted summary judgment…
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The Supreme Court heard oral argument in Sackett v. Environmental Protection Agency on October 3, 2022. Sackett involves property owners challenging an EPA compliance order determining that a property on which the Sacketts intended to build a home was a wetland as defined in the Clean Water Act (CWA). Sackett v. U.S. Env’t Prot. Agency,…
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On December 7, 2022, President Joe Biden (“President Biden”) signed the Speak Out Act (“The Act”), which bans the use of pre-dispute, non-disclosure and non-disparagement contract clauses involving sexual assault and sexual harassment claims. The Act applies to agreements between employers, current employees, former employees and independent contractors. Pursuant to The Act, a non-disclosure clause…
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In Ascot Corporation, LLC v. I&R Waterproofing, Inc., the Court of Appeals of North Carolina recently held that a subcontractor responsible for waterproofing could properly pursue the manufacturer of the waterproofing system for breach of the implied warranty of merchantability, but not for breach of express warranty, contribution, or negligence-based indemnity. Additionally, the Court held…
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On December 9, 2022, the U.S. Environmental Protection Agency (EPA) proposed a rule restricting the use of hydrofluorocarbons (HFCs). In a prepublication document, the EPA proposed the restriction of HFCs in refrigeration, air conditioning, heat pumps, foam blowing, and aerosols by 2025. The restriction would only apply if more environmentally friendly alternatives are available. According…
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In Enrique Feldman and Feldman Architecture v. Florida Department of Professional Regulation, So. 3d WL 17576861, (Fla. 1d DCA 2022), the First District Court of Appeal of Florida ruled against an architect for his online marketing of design services in Florida. Enrique Feldman is an architect with thirty-five years of experience in Venezuela, but was…
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In a November 10, 2022, interview with CNBC’s “Squawk Box”, SEC Chair Gary Gensler called for greater protections for investors in the cryptocurrency space following the stunning collapse of crypto exchange FTX. According to FTX’s now-former CEO Sam Bankman-Fried, the crypto exchange is facing a shortfall of up to $8 billion. On November 2, 2022,…
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