News & Insights

Practice Area: News

FINRA SUSPENDS BROKER FOR WHATSAPP MESSAGING MISUSE

FINRA recently announced a six-month suspension penalty for a broker who utilized WhatsApp to communicate with firm customers about securities-related business. These communications included obtaining authorization to buy and sell stock, discussions about account performance, and discussions related to customer complaints. During its investigation, FINRA found the communications took place between November 2020 and January…
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SOUTH CAROLINA COURT OF APPEALS HOLDS “PAY WHEN PAID” CLAUSE IN CONSTRUCTION CONTRACT UNENFORCEABLE

In J&H Grading & Paving, Inc. v Clayton Construction Company, Inc., 441 S.C. 272 (2023), the South Carolina Court of Appeals held that statutory language expressly prohibits parties from conditioning payment to the subcontractor upon the owner’s payment to the general contractor and makes any agreement to the contrary unenforceable. Clayton Construction Company, Inc. (“Clayton”),…
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FEDERAL TRADE COMMISSION ADOPTS RULE BANNING NONCOMPETE AGREEMENTS

On April 23, 2024, the Federal Trade Commission (“FTC”) voted to adopt a new rule banning noncompete agreements.  The rule prohibits employers from enforcing agreements to prevent employees from working for competitors or starting a competing business once their employment has ended. FTC’s new rule applies to any agreement containing a noncompete clause, defined as…
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WHEN CONTRACT ALSO MEANS TORT, UNDER ARKANSAS’ STATUTE OF REPOSE

Statutes of repose serve to cut off a right of action by establishing a date by which the action no longer exists. The action is cut off regardless of whether the action has accrued by that date or not. Arkansas’ Statute of Repose includes the following provision: “(a) No action in contract, whether oral or…
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