The SEC Adopts Regulation Best Interestby Andrew Whiteman
The SEC Adopts Regulation Best Interest On June 5, 2019, the United States Securities and Exchange Commission issued Release No. 34-86031, titled Regulation Best Interest: The Broker-Dealer Standard of Conduct. This much-anticipated rule takes effect on June 30, 2020. The stated purpose of Regulation BI is to establish a standard of
read more…COBRA – Know your Rights and Avoid Being Bitten by the Snakeby Andrew Whiteman
COBRA – Know your Rights and Avoid Being Bitten by the Snake Terminated employees generally lose their COBRA health care continuation coverage for one of two reasons: they fail to timely elect COBRA coverage within 60 days, or they fail to timely make required premium payments. The rights and obligations
read more…U.S. Supreme Court Takes Cases on LGBT Discrimination in Employmentby Andrew Whiteman
The following blog, well-written by Raleigh lawyer Cullen Stafford, discusses the Supreme Court’s recent decision to grant certiorari in cases involving the issue of whether Title VII of the Civil Rights Act of 1964 prohibits discrimination on the basis of an individual’s sexual orientation or gender identity. Click here for
read more…In LTD Cases, Tax Consequences Often Take a Huge Bite out of Lump-Sum Settlementsby Andrew Whiteman
Lump-sum settlements often carry significant adverse tax consequences for the claimant. Often the tax bite makes taking a lump sum settlement less attractive than receiving monthly benefits. This can best be explained by an example. Consider a 45-year-old claimant whose gross LTD benefit is $2,750 and who is receiving Social
read more…Andrew Whiteman Assists Securities Law Clinics with Amicus Brief Filingby Andrew Whiteman
Andrew Whiteman Assists Securities Law Clinics with Amicus Brief Filing On April 19, 2019, Andrew Whiteman filed an amicus curiae brief in the United States Court of Appeals for the Fourth Circuit on behalf of three law school law clinics: University of Miami School of Law Investor Rights Clinic, Elizabeth
read more…Judge Allows North Carolina GenX Class Action to Proceedby Andrew Whiteman
In a ruling filed on April 19, 2019, Judge James C. Dever III ruled that the plaintiffs may proceed with their class action lawsuit against E.I. DuPont de Nemours and Company (“DuPont”) and The Chemours Company FC, LLC (“Chemours”). The case is pending in the United States District Court for
read more…FINRA Requires Brokerage Firms to Communicate with Customers when a Broker Leaves the Firmby Andrew Whiteman
Ask questions if your broker leaves his firm. According to new regulatory guidance from the Financial Industry Regulatory Authority, known as FINRA, member firms are required to do the following: In the event of a registered representative’s departure, the member firm should promptly and clearly communicate to affected customers how
read more…New ERISA Disability Claim Regulations – Part 9by Andrew Whiteman
New ERISA Disability Claim Regulations – Part 9 On April 1, 2018, a new disability claim regulation came into effect. The regulation was promulgated by the United States Department of Labor (referred to herein as “DOL”) under the authority of the Employee Retirement Income Security Act of 1974 (“ERISA”) and
read more…Senators Warner and Kennedy Introduce Bill to Expand SEC Powers to Assist Investorsby Andrew Whiteman
On March 14, 2019, Senators Mark Warner (D-Va.) and John Kennedy (R-La.), both members of the Senate Banking Committee, introduced the Securities Fraud Enforcement and Investor Compensation Act. This legislation would give the Securities and Exchange Commission power to seek restitution for retail investors harmed by securities fraud scams. In
read more…New ERISA Disability Claim Regulations – Part 8by Andrew Whiteman
New ERISA Disability Claim Regulations – Part 8 On April 1, 2018, a new disability claim regulation came into effect. The regulation was promulgated by the United States Department of Labor (referred to herein as “DOL”) under the authority of the Employee Retirement Income Security Act of 1974 (“ERISA”) and
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