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Finra Issues Guidance On Cooperation By Broker Dealers And Brokerage Firms During Regulatory Investigations

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FINRA recently issued Regulatory Notice 19-23 addressing “extraordinary cooperation” by broker dealers and broker dealer firms.  The Notice highlights FINRA’s hopes to incentivize broker dealers and broker dealer firms to take “proactive and voluntary steps beyond those required under FINRA rules” by crediting such cooperation in FINRA’s regulatory enforcement decisions. The Notice also clarifies the…
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Alabama Court Holds General Contractor Need Not Pay Subcontractor When Agreement Was Illegal Even When Subcontractor Performed Work

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In Construction Services Group, LLC v. MS Electric, LLC, 2019 WL 2710115 (Ala. Civ. App. 2019), the parties entered into an agreement with the Alabama Public School and College Authority. The agreement provided that Construction Services Group, LLC (“Construction Services”) would act as the general contractor on a construction project for additions and alterations to…
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D.C. Circuit Upholds Rcra’s Transfer-Based Exclusion For Recycled Solid Waste

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The D.C. Circuit has upheld an EPA rule that classifies as “recycled” certain hazardous material sent to a third-party reclamation facility and thus exempt from the Resource Conservation and Recovery Act (RCRA) regulations governing discarded waste.  California Communities Against Toxics, et al., v. EPA, et al., No. 18-1163 (D.C. Cir., July 2, 2019). In this…
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Texas Supreme Court Rules Engineer’s Conduct Evidenced Intentional Waiver Of Certificate Of Merit Requirement

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In LaLonde v. Gosnell, 2019 WL 2479172 (Tex. June 14, 2019), the Texas Supreme Court held an engineer’s engagement in the judicial process, through the completion of discovery and until one month before trial, waived the Certificate of Merit requirements. Paul and Kim Gosnell (the “Gosnells”) contracted with Thomas A. LaLonde d/b/a Lee Engineering Co….
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A Petition For Writ Of Mandamus Is Not The Proper Remedy For Requesting Review Of Discovery Orders

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In Ex parte Farley, — So.3d —-, 2019 WL 2558824 (Ala. Civ. App. June 21, 2019), the Employee, Randy Farley (“Farley”) filed suit for workers’ compensation benefits against his Employer, Transport America, Inc. (“Transport America”) in Etowah County, Alabama.  As part of its discovery requests, Transport America asked that Farley execute releases for obtaining certain…
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Georgia Supreme Court Upholds Longstanding Acceptance Doctrine In Negligent Construction Case

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In Thomaston Acquisition, LLC v. Piedmont Construction Group, Inc., Georgia’s Supreme Court addressed the scope of the “acceptance doctrine” in negligent construction cases. 2019 WL 2332043 (Ga. 2019). Thomaston Acquisition, LLC (“Thomaston”) was the subsequent purchaser of an apartment complex and, after purchase, it discovered that the roof and HVAC system had been negligently constructed….
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Sec Adopts Rules And Interpretations Regarding Broker Dealer And Investment Adviser Standards Of Conduct

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On June 5, 2019, the SEC voted to adopt a package of rulemakings and interpretations regarding broker dealers’ and investment advisers’ standards of conduct, including new Regulation Best Interest, new Form CRS Relationship Summary, and two interpretations under the Investment Advisers Act of 1940. Under Regulation Best Interest, broker dealers will be required to act…
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Alabama Enacts New Equal Pay Act To Prevent Wage Disparity

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On June 11, 2019, Alabama Governor Kay Ivey signed a new law that prohibits employers from paying less for the same work on the basis of gender or race. The new law, titled the Clarke-Figures Equal Pay Act (the “Act”), makes Alabama the 49th state to enact a state law against wage inequality, with only…
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U.S. Supreme Court Grants Review Of Montana Superfund Site Ruling

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The U.S. Supreme Court has granted a petition for writ of certiorari to review questions regarding clean-up activities required by the U.S. Environmental Protection Agency (“EPA”) under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”).  Atlantic Richfield Co. v. Christian, No. 17-1498.  In the suit, Atlantic Richfield seeks to overturn a decision by the…
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