News & Insights

Sec Division Of Examinations Announces 2021 Examination Priorities

The SEC Division of Examinations recently announced its examination priorities for fiscal year 2021, discussing key risks, trends, and examination priorities in an overall effort to promote and improve compliance. The two largest programs run by the Division, Investment Adviser/Investment Company Program and Broker-Dealer and Exchange Program, focus on the protection of retail investors and…
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Supreme Court Dismisses Florida’s Case Against Georgia Over Water Use In The Apalachicola Chattahoochee Flint River Basin

In an April 1, 2021 ruling, the U.S. Supreme Court unanimously dismissed Florida’s claims against Georgia in a long-running dispute over the use of water in the Apalachicola-Chattahoochee-Flint (ACF) river basin. State of Florida v. State of Georgia, 141 S.Ct. 1175 (2021).  The court rejected Florida’s request for an order requiring Georgia to reduce its…
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Appellate Courts To Hear Business Owners’ Claims For Insurance Coverage For Business Interruption

This week has seen a few notable updates in the ongoing dispute regarding insurance coverage for business interruption resulting from COVID-19-related business closures, as federal and state appellate courts finally have had the opportunity to weigh in on these arguments. On September 29, 2020 in Iowa, United States District Judge Charles R. Wolle granted with…
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Department Of Labor Issues Guidance To State Unemployment Insurance Agencies That Expands Eligibility For Pandemic Unemployment Assistance

In response to a directive from President Biden, the U.S. Department of Labor (“DOL”) has issued guidance to state unemployment insurance agencies that expands the number of instances in which workers can be eligible for Pandemic Unemployment Assistance (“PUA”). PUA is a federally funded unemployment expansion that was adopted under the Coronavirus Aid, Relief, and…
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Mississippi Appellate Court Holds Defective Work Performed By Subcontractor Constituted Material Breach Preventing It From Recovering Alleged Acceleration Damages

In Kanza Constr., Inc. v. Kansas City S. Railways Co., the Mississippi Court of Appeals analyzed whether the circuit court properly granted partial summary judgment when it found, as a matter of law, that a construction company was not entitled to acceleration damages on the contract it breached. 2021 WL 670993 (Miss. Ct. App. Feb….
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Massachusetts Supreme Court Rules That Statute Of Repose For Construction And Design Defect In Multi-Building Project Ran When Each Building Was Substantially Completed

In D’Allessandro v. Lennar Hingham Holdings, LLC, 2020 WL 6438937 (Mass. Nov. 3, 2020), the Massachusetts Supreme Judicial Court held the statute of repose governing the claims for design and construction defects for a multi-building condominium project began to run when each building was opened for its intended use or was substantially completed, not when…
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Highlights From The Finra 2021 Risk Monitoring And Examination Priorities Letter

On February 1, 2021, FINRA published the 2021 Report on FINRA’s Examination and Risk Monitoring Program (“2021 Report”). Annually, FINRA publishes the Report on its Examination and Risk Monitoring Program in order to provide member firms with information they can use to assess and strengthen their compliance, supervisory, and risk management programs. The Report summarizes…
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Navigable Waters Protection Rule Does Not Require Dismissal Of Cwa Case

This Clean Water Act (CWA) case arose from the 2007 disposal of fill from Defendants’ property (containing purported wetlands) allegedly into “waters of the United States.”  United States v. Acquest Transit LLC, No. 09-CV-55S, 2021 WL 809984, at *13 (W.D.N.Y. Mar. 3, 2021).  The underlying issue is whether that property contained wetlands that are part of “waters of…
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