FINRA Increases Penalties For Brokers’ Bad Behavior
5/8/18
By: Ted Peters
In further response to mounting pressure for securities regulators to exert greater control over problem brokers, the Financial Industry Regulatory Authority (“FINRA”) released Regulatory Notice 18-17 on May 2, 2018. FINRA has long maintained a “rulebook” of …
Philadelphia's “Salary History Ban Law” Gets Banned!
5/7/18
By: John McAvoy
More than a half-century after President JFK signed the Equal Pay Act, the gender pay gap is still with us. Women earn 79 cents for every dollar men earn, according to the Census Bureau. What will it …
5/7/18
By: Robyn Flegal
Alabama has officially become the last of the 50 States to pass a data breach notification statute, which will go into effect on June 1, 2018. The Alabama Data Breach Notification Act of 2018 requires that covered …
New FINRA Proposals for High Risk Brokers
5/4/18
By: Theodore C. Peters
On April 30, 2018, FINRA published Regulatory Notice 18-16, captioned “High-Risk Brokers,” which seeks comment on proposed rule amendments that would place further restrictions on not only high-risk brokers, but also the member firms that …
2018 GA Legislative Session Adjournment Report
5/4/18
By: Allan J. Hayes
DOJ Fails to Challenge 5th Circuit Ruling Striking Fiduciary Rule
5/3/18
By: Theodore C. Peters
On March 15, 2018, the Fifth Circuit Court of Appeal stuck down the “fiduciary rule” proposed by the Department of Labor (DOL), which required brokers to act in the best interests of their clients in retirement …
Not Just for Trust Fund Babies Anymore
5/3/18
By: Bryce M. Van De Moere
Even with the existence of the Affordable Care Act, the preferred way to get health benefits is still through your employer. Health insurance packages have become an integral part of employee compensation. As employers …
Company Wrongfully Terminates Employees for Emails Using Profanity
5/1/18
By: Joyce M. Mocek
The National Labor Relations Board (“NLRB”) recently determined Mexican Radio Corp. (a restaurant company) violated the National Labor Relations Act (“NLRA” or the “Act”) when it fired four (nonunion) employees after they sent emails complaining about …
5/1/18
By: Jason C. Dineros
Chloe Caras, a former female restaurant executive filed a sexual harassment suit last week against celebrity chef and Top Chef Finalist, Mike Isabella. Caras alleges that Chef Isabella and his company, Concepts, failed to provide sexual …
Yahoo Fined $35M for Delay in Disclosing 2014 Cyberattack
4/30/18
By: Theodore C. Peters
On April 24, 2018, the U.S. Securities and Exchange Commission hit Altaba, Inc. (formerly known as Yahoo) with a $35 million fine. The penalty stems from Yahoo’s failure to disclose a 2014 cyberattack until 2016, even …
PA Fed. Ct. Finds UberBLACK Limousine Drivers Maintain Independent Contractor Status
4/30/18
By: John P. McAvoy
On April 12, 2018, Uber Technologies, Inc. won its legal battle on the recurring issue of independent contractor misclassification when the Eastern District of Pennsylvania granted the company’s motion for summary judgment in Razak v. Uber …
Banks Attempt to Expand the Scope of Liability for Escrow Companies
4/27/18
By: Bryce M. Van De Moere
The collapse of the subprime mortgage market in 2008 created shock waves still felt today. Over-extended lenders such as Washington Mutual and Countrywide failed; larger financial institutions absorbed their loans and were tasked with …