On September 24, 2019, the Department of Labor released its Final Rule, modifying the Fair Labor Standards Act’s (“FLSA”) overtime regulations. The Final Rule results in fewer employees being exempt, and more employees being eligible for overtime pay. As such, employers should budget to include additional expenditures in overtime for the coming year. Since 2004,…
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In recently published Regulatory Notice 19-31, FINRA responded to questions regarding how members can comply with FINRA’s communications rules, Rules 2210 through 2220, when using electronic media. FINRA issued this guidance to facilitate simplified and more effective disclosure in communications with the public, particularly in the context of members’ marketing and advertising of their products…
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FINRA recently issued Regulatory Notice 19-28 addressing member firms’ supervisory responsibilities as it pertains to customer accounts owned by municipal entities. The guidance was issued to clarify misconceptions surrounding the definition of the term “municipal advisors” and to ensure compliance with relevant FINRA and SEC regulations. The term “municipal advisor” refers to any individual, who…
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The Equal Employment Opportunity Commission (“EEOC”) and the Office of Federal Contract Compliance Programs (“OFCCP”) both provide protections against discrimination on the basis of gender identity. OFCCP’s frequently asked questions define gender identity as referring to a person’s internal sense of their own gender and that this internal sense may or may not correspond to…
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In Jeanes v. McBride, Plaintiff Janet Jeanes (“Ms. Jeanes”) brought a suit against Defendant Greg McBride (“Mr. McBride”) regarding Mr. McBride’s construction of a building on a plot of land owned by Ms. Jeanes. 2019 WL 2583113 (W.D. La. 2019). Ms. Jeanes told Mr. McBride that she wanted a building for spaces for her horses…
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In Novum Structures, LLC v. Larson Engineering, Inc., 2019 WL 1924878 (E.D. Wis. April 30, 2019), a Wisconsin District Court addressed whether an engineer’s sealing of design drawings makes the engineer the “Engineer of Record” and establishes a duty to verify the accuracy of the entire design. In 2014, Novum Structures, LLC (“Novum”) was hired…
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The Eleventh Circuit has determined the U.S. Environmental Protection Agency (EPA) does not have to withdraw from a partnership with Alabama that allows the state to issue permits under the Clean Water Act (CWA), even though environmental groups have claimed Alabama’s program has failed to comply with the federal law’s requirements over the years. Cahaba…
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A United States District Court Judge for the Northern District of California has reduced an $75 million punitive damages award against Monsanto Company to $20 million in the nation’s first federally-tried Roundup case. Hardeman v. Monsanto, 3:16-cv-00525 (N.D. Cal., July 15, 2019). In reducing the award, the Court stated Monsanto deserves to be punished, but…
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The United States Supreme Court recently granted certiorari in a group of three cases challenging the scope of Title VII of the Civil Rights Act of 1964’s (“Title VII”) prohibition on discrimination on the basis of sex. This decision will resolve a conflict among federal circuits as to whether Title VII prohibits employment discrimination on…
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FINRA commenced a retrospective review of its rules and administrative processes meant to help protect senior investors from financial exploitation and is now requesting comment on suggested changes to and creation of rules and administrative processes addressing the issue. FINRA is requesting feedback on proposed expansions to Rule 2165, which permits a member firm to…
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