NASAA recently announced proposed amendments that aim to prohibit the use of “advisor” or “adviser” titles by brokers. The regulatory coalition is attempting to curtail the use of the titles by individuals that lack the investment adviser licensure. The new amendment is a part of NASAA’s response to the SEC’s 2019 Regulation Best Interest rule….
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Increasingly more states are enacting certificate of merit statutes for professional negligence claims, but what satisfies the certification requirement continues to be litigated. The South Carolina Court of Appeals recently held an affidavit from engineer was sufficient to satisfy the affidavit filing requirement for claims of professional negligence against an architect, at least as it…
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In Iberdrola Energy Projects v. Oaktree Capital Management L.P., 2024 WL 3363321 (N.Y. App. Div. July 11, 2024), a New York appellate court held that a nonrecourse provision in a construction contract entered into by sophisticated parties barred tort claims against the alleged breaching party. Defendants Oaktree Capital Management L.P. (“Defendants”) created a special-purpose entity,…
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On June 27, 2023, Congress passed the Pregnant Woman’s Fairness Act (“PWFA”). The PWFA requires employers with 15 employees or more to provide reasonable accommodations to employees or applicants with known limitations related to pregnancy, childbirth, or related medical conditions, unless such accommodation would cause the employer an undue hardship. The PWFA directs the EEOC…
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On August 15, 2024 the United States Court of Appeals for the Third Circuit held in David Schaffner, Jr. and Theresa Sue Schaffner v. Monsanto Corporation, 113 F.4th 364 (3d Cir. 2024) that the Federal Insecticide, Fungicide, and Rodenticide Act (“FIFRA”) preempted the Plaintiffs’ Pennsylvania state law failure to warn claims. The Third Circuit’s ruling…
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Canada-based TD Bank pleaded guilty to conspiracy to commit money laundering. The bank is the largest to do so and will pay approximately $3 billion in a settlement with U.S. authorities who said that the financial institution’s lax practices allowed significant money laundering over multiple years. “TD Bank created an environment that allowed financial crime…
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The general rule in Alabama is that a duty to indemnify cannot be determined before liability is established. But are there exceptions to that rule? In James Snell v. United States Insurance Co., 102 F.4th 1208 (11th Cir. 2024), the Eleventh Circuit weighed in and unequivocally answered “yes.” Snell involved coverage under a commercial general…
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When defending an insured under reservation of rights, Alabama insurers often are faced with the possibility of exposure from a judgment or verdict that includes both covered and non-covered loss or damage under an insurance policy. Insurers can take multiple steps during the handling of a claim to ensure this coverage issue is addressed adequately…
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Georgia made some notable amendments to Georgia Code § 43-15-23 – which governs the licensure and certification of engineering firms – introducing several key changes that strengthened the regulatory framework for engineering firms in the state. Under the previous law, firms were required to obtain a certificate of authorization from the Georgia State Board of…
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On July 25, 2024, the United States Court of Appeals for the Ninth Circuit held that under Title VII of the Civil Rights Act of 1964 (“Title VII”) companies can be held liable for claims of hostile work environment if an employee posts harassing content online that negatively impacts the workplace. This decision is the…
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