The Administrative Exemption to the Fair Labor Standards Actby Andrew Whiteman
The Administrative Exemption to the Fair Labor Standards Act The Fair Labor Standards Act provides that “no employer shall employ any employee any of his employees . . . for a workweek longer than forty hours unless such employee receives compensation for his employment in excess of the hours above
read more…Fourth Circuit Clarifies that an Employer/Plan Administrator/Named Fiduciary is Indeed an ERISA Fiduciaryby Andrew Whiteman
Fourth Circuit Clarifies that an Employer/Plan Administrator/Named Fiduciary is Indeed an ERISA Fiduciary In the case of Dawson-Murdock v. National Consulting Group, Inc., an employer argued that it was not an ERISA fiduciary of its own group life insurance plan, even though the employer was designated as the “plan administrator”
read more…FINRA Reminds Broker-Dealers and Investment Advisers to Comply with the SEC’s “Best Interest” Requirementsby Andrew Whiteman
FINRA Reminds Broker-Dealers and Investment Advisers to Comply with the SEC’s “Best Interest” Requirements 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 (“Regulation BI”), which provides for a best interest standard applicable to broker-dealers.
read more…The North Carolina Wage and Hour Act Provides Strong Legal Remedies for Employeesby Andrew Whiteman
The North Carolina Wage and Hour Act regulates the payment of wages, disclosure of wage payment policies, and forfeiture of wages upon termination of employment. An employer who fails to pay wages when they are due may be held liable to the employee for double the amount owed and attorney’s
read more…The FINRA Arbitration Proceessby Andrew Whiteman
The FINRA Arbitration Process Almost all disputes involving securities brokers and their customers are resolved by arbitration under a process administered by the Financial Industry Regulatory Authority (“FINRA”). FINRA was created on July 30, 2007, through the merger of the National Association of Securities Dealers, Inc. and the New York
read more…Equal Pay for the U.S. Women’s Soccer Team!by Andrew Whiteman
Equal Pay for the U.S. Women’s Soccer Team! If you want to know what the U.S. women’s national soccer team is complaining about, click here to see the team’s federal court complaint against United States Soccer Fedaration, Inc. This story in The Atlantic summarizes the case. Hint – the women have really
read more…Get Private Health Insurance Out of Medicareby Andrew Whiteman
Get Private Health Insurance Out of Medicare. Professors Pamela Herd and Donald P. Moynihan of Georgetown University’s McCourt School of Public Policy have written in a New York Times op-ed that the involvement of private health insurers in providing Medicare benefits has greatly increased the complexity of the program and, as a result,
read more…You Have the Right to Vote – in a Gerrymandered Districtby Andrew Whiteman
The Supreme Court today reversed lower court decisions from North Carolina and Maryland that held partisan gerrymandering of congressional election districts is unconstitutional. The New York Times report is here. Better yet, read the Court’s opinion here. This decision is thoroughly depressing. The message is that the political hacks in
read more…The SEC Interprets Investment Advisers’ Fiduciary Duty to Customersby Andrew Whiteman
The SEC Interprets Investment Advisers’ Fiduciary Duty to Customers On June 5, 2019, the United States Securities and Exchange Commission issued Release No. IA-5248, titled Commission Interpretation Regarding Standard of Conduct for Investment Advisers (herein, “SEC Interpretation”).[1] The same day, the SEC issued Release No. 34-86031, titled Regulation Best Interest: The
read more…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
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