On April 21, New Jersey became the 50th and final state to adopt the Best Interest standard for annuity transactions. The new New Jersey standard is based on the National Association of Insurance Commissioners (NAIC) Suitability…
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/ Consumer Protection, Insurance, Securities Law
When disputes arise between developers and purchasers, it is important to ensure that the developer’s preferred forum of dispute resolution is enforceable in the purchase contract. In particular, arbitration clauses, which are…
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/ Alternative Dispute Resolution (ADR), Commercial Law & Contracts, Real Estate - Residential
A recent Tax Court order highlights the gift and estate planning opportunities afforded when a senior family member makes loans to other family members. In Galli v. Commissioner, Docket Nos. 7003-20 and 7005-20, the Court had to…
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/ Finance & Banking, Taxation, Wills, Trusts, & Estate Planning
In 2010, the Federal Insurance Office (“FIO”) was created within the United States Treasury Department by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to support uniform regulation of Insurance across the…
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/ Administrative Law, Elections & Politics, Insurance
On March 12, 2025, the SEC’s Division of Corporation Finance issued guidance affirming that issuers in a 506(c) offering could reasonably be considered to have properly "verified" an investor's accredited status based simply on…
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/ Business Organizations, Finance & Banking, Securities Law
Securities issuers and their counsel have historically relied on the fact that the SEC has not pursued enforcement actions against issuers that have not filed, or been delayed in filing, a Form D in connection with offerings…
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/ Business Organizations, Finance & Banking, Securities Law
In early January, Coinbase achieved a partial victory in the Third Circuit Court of Appeals. Thus, there is hope among crypto companies that the Securities and Exchange Commission (“SEC”) will provide guidelines for compliance…
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/ Administrative Law, Finance & Banking, Securities Law
On December 31, 2024, the New Jersey Department of Banking & Insurance (“Department”) issued two Bulletins, announcing changes to the law, effective January 1, 2025. Both Bulletins addressed health insurance. Bulletin, No…
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/ Administrative Law, Health, Insurance
On December 4, an Interagency Statement on Elder Financial Exploitation (the “Interagency Statement”) was issued by the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal…
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/ Consumer Protection, Finance & Banking
DFS has developed a draft pre-proposal notice regarding proposed amendments to 11 NYCRR 52 (Insurance Regulation 62) which, if adopted, would amend the minimum standards for form, content, and sale of health insurance in New…
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/ Civil Rights, Health, Insurance
The Alabama Securities Commission recently issued an Order exempting Alabama based investment advisers to “private funds” from the requirement to register as investment advisers with the ASC…
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/ Business Organizations, Finance & Banking, Securities Law
With issuance of Bulletin No. 24-12, the New Jersey Department of Banking & Insurance has extended the time for enrollment in the state insurance exchange, “Get Covered New Jersey” through October 31, 2024. This extension…
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/ Health, Insurance
In the recent case, Connelly v. United States, 602 U.S. (2024) (slip op.) the U.S. Supreme Court unanimously ruled that life insurance proceeds received by a closely held corporation which is used to fund the redemption of a…
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/ Business Organizations, Taxation, Wills, Trusts, & Estate Planning
On June 12, 2024, Florida’s Third District Court of Appeal vacated a $1.5 million legal malpractice arbitration award, holding the arbitrator unfairly considered an unpled theory of relief when rendering an award in favor of…
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/ Alternative Dispute Resolution (ADR), Civil Procedure, Commercial Law & Contracts, Professional Malpractice
The Federal Bureau of Investigation (FBI) recently issued a warning about scams involving timeshares that have senior Americans as the primary victim. The FBI noted that timeshare fraud poses a significant risk to older…
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/ Consumer Protection, Finance & Banking, Real Estate - Residential
