Author Info for Bressler, Amery & Ross, P.C.

Samantha Baccaro

DOBI Bulletin No. 24-05: Expansion of Unwinding Special Enrollment Period; Six-Month Guaranteed Issue Right for Medicare Supplement Plans

The New Jersey Department of Banking and Insurance (DOBI) issued Bulletin 24-05 on May 14, 2024 updating Bulletin 24-03 to expand the unwinding special enrollment period and clarify the guaranteed issue period for Medicare… more

Children's Health Insurance Program (CHIP), Health Insurance, Medicaid, Medicare, Medicare Part B

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Taylor Bandy

Older Adults Fall Victim to Government Impersonation Scams at Rates Higher than Previously Thought

A recent research study published in JAMA Network Open suggests that older adults – including many who are not cognitively impaired – may be falling victim to “Government Impersonation” scams at a rate higher than previously… more

Elder Issues, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Fraud, Scams

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Frank Barnes III

Supreme Court Clarifies Mandatory Stay Requirement Under the Federal Arbitration Act

On May 16, 2024, the Supreme Court of the United States issued a unanimous decision in Smith v. Spizzirri. This decision brings much-needed clarity to the proper procedure for federal courts, when dealing with cases involving… more

Arbitration, Arbitration Agreements, Federal Arbitration Act, Judicial Proceedings, SCOTUS

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Cynthia Borrelli

NY Department of Financial Services Issues Guidance to its Regulated Industry As a Result of the Ongoing Global Conflict

The New York State Department of Financial Services (the “Department”) has issued guidance (“Guidance”) to all individuals and entities regulated by the Department (“Regulated Entities”) to underscore the importance of… more

Cybersecurity, Cybersecurity Information Sharing Act (CISA), Economic Sanctions, Financial Institutions, New Guidance

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Joseph Calabrese

The Tide Rises: Will Biden’s Blue Wave Wash Away Mandatory Arbitration?

Congressional rumblings about outlawing mandatory arbitration clauses are relatively common, but they have not been successful. Ever since a hard-won battle in the 1980s, the industry has been calling the shots about where… more

Arbitration, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Investors, Mandatory Arbitration

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Megan Cannella

The Corporate Transparency Act – What You Need to Know

If you own or plan to form an LLC, corporation, or similar business entity, you should be aware of the Corporate Transparency Act and its reporting requirements to avoid significant penalties… more

Beneficial Owner, Business Entities, Business Ownership, Corporate Governance, Corporate Transparency Act

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Kenneth Cohen

How to Take Advantage of Changes in Interest Rates For Gift and Estate Tax Savings

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… more

Estate Planning, Estate Tax, Gift Tax, Interest Rates, Internal Revenue Code (IRC)

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Sean Coughlin

SEC Enforcement Chief Issues Reminder Concerning Compliance Officer Liability

On Oct. 24, 2023, Gurbir Grewal, the Director of the U.S. Securities and Exchange Commission’s (SEC) Enforcement Division, spoke to the NY Bar Association Compliance Institute about his views concerning faltering public trust of… more

Banking Sector, Chief Compliance Officers, Compliance, Financial Institutions, Financial Services Industry

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Frank Cuccio

U.S. Supreme Court Mandates District Court Stay on Arbitration Appeals

On June 23, 2023, the Supreme Court published a slip opinion decision in Coinbase, Inc. v. Bielski, No. 22-105 (U.S. June 23, 2023), which resolved a circuit split over whether a district court must stay proceedings pending… more

Arbitration, Automatic Stay, Coinbase Inc v Bielski, Federal Arbitration Act, Motion to Compel

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Benjamin DiLorenzo

NJ Appellate Division Holds that no Explicit Waiver is Needed for Enforcement of an Arbitration Provision between Sophisticated Parties

In a per curiam opinion issued February 8, 2023 in Cnty. of Passaic v. Horizon Healthcare Servs., Inc., No. A-0952-21, 2023 N.J. Super. LEXIS 10, at *3 (App. Div. Feb. 8, 2023), the New Jersey Appellate Division held that an… more

Arbitration, Arbitration Agreements, Commercial Contracts

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MaryJane Dobbs

Just Trucking Along: New Jersey Federal Court Rules Truck Drivers Were Misclassified as Independent Contractors

On June 9, 2022, the New Jersey District Court in Portillo v. Nat’l Freight, Inc., 15-cv-07908, 2022 U.S. District. LEXIS 103186 (D.N.J. June 9, 2022) determined that roughly 250 drivers for trucking company National Freight,… more

ABC Test, Commercial Truck Drivers, Employee Definition, Independent Contractors, Misclassification

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Clinton Edgar

Form D-elay: Shift in Enforcement?

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… more

Capital Markets, Disclosure Requirements, Enforcement Actions, Form D Filing, Private Equity

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Krista Elsasser

Appraisal Reversed in Second DCA

On October 27, 2021, the Second District Court of Appeal reversed a trial court order compelling appraisal that had been issued by Judge Elizabeth Krier of Collier County in American Coastal Insurance Company v. Ironwood, Inc.,… more

Appraisal, Insurance Industry, Insurance Litigation

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Joel Everest

SEC Approves Overhaul of FINRA Expungement Process

On April 12, 2023, the SEC approved FINRA’s proposed expungement overhaul, a process that started in earnest in December 2017. See Release No. 34-97294; File No. SR-FINRA-2022-024. The latest rule changes, which FINRA submitted… more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Financial Institutions, Financial Services Industry

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Logan Fisher

Older Adults Fall Victim to Government Impersonation Scams at Rates Higher than Previously Thought

A recent research study published in JAMA Network Open suggests that older adults – including many who are not cognitively impaired – may be falling victim to “Government Impersonation” scams at a rate higher than previously… more

Elder Issues, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Fraud, Scams

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David Hantman

Updates to CFP Board’s Procedural Rules

On May 16, 2023, the Certified Financial Planner Board of Standards, Inc. (the “CFP Board”) adopted revised Procedural Rules addressing procedures for investigating alleged misconduct and enforcing the CFP Board’s Code of Ethics… more

Corporate Misconduct, Ethics, Financial Services Industry, Investigations

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Josh Jones

The FBI Warns Seniors of Timeshare Scams by Mexican Cartels

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… more

Elder Issues, FBI, Fraud, Scams, Timeshare

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Harrison Kaufman

Adult-Use Cannabis Proposed Regulations in New York are Open for Public Comment

On December 14, 2022, the Office of Cannabis Management (“OCM”) published proposed regulations for the implementation of the Marijuana Regulation and Taxation Act of New York in the state register. The proposed regulations… more

Cannabis Products, Marijuana, Marijuana Related Businesses, New York, Regulatory Oversight

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Kalie Maniglia

Florida’s Third District Court of Appeal Overturns AAA Arbitration Award based on Claimant’s Failure to Affirmatively Plead Claim for Relief

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… more

Arbitration, Arbitration Awards, Arbitrators, Commercial Litigation, Florida

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Diana Manning

NJ Appellate Division Holds that no Explicit Waiver is Needed for Enforcement of an Arbitration Provision between Sophisticated Parties

In a per curiam opinion issued February 8, 2023 in Cnty. of Passaic v. Horizon Healthcare Servs., Inc., No. A-0952-21, 2023 N.J. Super. LEXIS 10, at *3 (App. Div. Feb. 8, 2023), the New Jersey Appellate Division held that an… more

Arbitration, Arbitration Agreements, Commercial Contracts

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W. Preston Martin

Expungement in the States’ Crosshairs

State securities regulators have long expressed reservations about the use of the expungement remedy. Recently, we have observed a marked increase in the use of alternative (read: aggressive) efforts by states to impact the… more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), State Securities Regulators

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Patrick Medeo

Regulation BI: Key Perspectives from Recent Report by State Regulators

The North American Securities Administrators Association (NASAA) recently released a report prepared by its Broker-Dealer Section Committee (Committee) presenting the findings of Phase II (B) of its National Examination… more

Best Practices, Broker-Dealer, Compliance, ETFs, Investment Adviser

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Louis Mendez

Yes, an Arbitrator Can Exceed Their Powers in the Eleventh Circuit

The reports of the death of Section 10 of the FAA may have been greatly exaggerated. Thursday, a majority of the Eleventh Circuit held in Nalco Co. LLC v. Bonday that an arbitration award was subject to vacatur under Section… more

Appeals, Appellate Courts, Arbitration, Arbitration Awards, Arbitrators

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Karen Murphy

Enforceability of Arbitration Clauses in NJ Developer Purchase Agreements

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… more

Appeals, Arbitration, Arbitration Agreements, Breach of Contract, Consumer Contracts

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Daniel Murray

Amendments to New York’s Prompt Payment Act

Introduction - On November 17, 2023, amendments to New York’s Prompt Payment Act (the “Act”) were signed into law by Governor Kathy Hochul and effective immediately. The amendments apply to all private construction contracts… more

Construction Contracts, Construction Industry, New York, Prompt Payment

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Kirsten Nowak

Michigan Enacts Broker-Dealer and Investment Adviser Financial Exploitation Law

On December 13, 2023 Michigan became the latest state to enact legislation to protect elder and vulnerable adults from financial exploitation. Effective March 13, 2024, the new law requires broker-dealers and state-registered… more

Broker-Dealer, Elder Issues, Exploitation, Financial Services Industry, Investment Adviser

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Ronak Patel

SEC Staff Provides Additional Guidance on Verification Requirement for 506(c) Offerings

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… more

Capital Markets, Capital Raising, Compliance, Disclosure Requirements, Investors

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Joshua Pearce

SEC Staff Provides Additional Guidance on Verification Requirement for 506(c) Offerings

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… more

Capital Markets, Capital Raising, Compliance, Disclosure Requirements, Investors

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Loren Pierce

Adverse Employment Action is Not Required To Establish a Failure To Accommodate Claim Under the NJLAD and Subsequent Bodily Injury Claim is Not Barred By the Workers’ Compensation Act

Following our prior client alert published while this matter was before Appellate Division, the New Jersey Supreme Court has now weighed-in, in Richter v. Oakland Board of Education. On June 8, 2021, the Court formally held… more

Bodily Injury, Disabilities, Failure to Accommodate, New Jersey, NJLAD

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Laura Pizzitola

SEC Approves Overhaul of FINRA Expungement Process

On April 12, 2023, the SEC approved FINRA’s proposed expungement overhaul, a process that started in earnest in December 2017. See Release No. 34-97294; File No. SR-FINRA-2022-024. The latest rule changes, which FINRA submitted… more

Arbitration, Expungement, Financial Industry Regulatory Authority (FINRA), Financial Institutions, Financial Services Industry

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Luca Provenzano

New Jersey Modifies Mansion Tax on Sales of Real Property

The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee (known… more

Buyers, New Jersey, New Legislation, Popular, Property Tax

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Roxanne Rehm

Florida Adopts Additional Protections for Senior Investors in the 2025 Legislative Session

June is Elder Abuse Awareness Month, a time to raise awareness of the growing trend of financial exploitation, which has become one of the most prevalent forms of abuse targeting the senior population. During the 2025… more

Beneficial Owner, Broker-Dealer, Elder Abuse, Exploitation, Financial Institutions

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Risa Rich

Snow More Liability: New Jersey Supreme Court Upholds “Ongoing Storm” Doctrine

On June 10, 2021, the New Jersey Supreme Court rendered its decision on Angel Alberto Pareja v. Princeton International Properties, (A-4-20) which is the first New Jersey Supreme Court decision since 1983 to opine on a… more

Commercial Property Owners, Liability, NJ Supreme Court, Severe Weather

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Audrey Rizk

FINRA Eyes Crypto Asset Communications

The Financial Regulatory Authority (FINRA) recently identified the “initial themes” observed in a targeted examination of retail communications by member firms with respect to crypto assets. The headline grabbing statistic:… more

Compliance, Cryptoassets, Cryptocurrency, Financial Industry Regulatory Authority (FINRA), Financial Institutions

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Kathryn Burfitt Rockwood

FINRA Regulatory Notice 22-18: Digital Signature Forgery and Falsification

On August 3, 2022, FINRA issued Regulatory Notice 22-18 in response to reports of registered representatives and associated persons forging or falsifying customer signatures, or signatures of colleagues or supervisors, through… more

Digital Signature Standards, E-Signatures, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Forgery

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Zachary Rosenberg

New Jersey Modifies Mansion Tax on Sales of Real Property

The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee (known… more

Buyers, New Jersey, New Legislation, Popular, Property Tax

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Alex Sabo

Florida Adopts Protection of Specified Adults Statute for Financial Institutions

During the 2024 Legislative session, the Florida Legislature passed Senate Bill 556, “Protection of Specified Adults”, which was signed into law by Governor Ron DeSantis on May 28, 2024… more

Elder Issues, Financial Institutions, Financial Services Industry, Florida, Investment Adviser

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Christie Shambach

SEC Staff Provides Additional Guidance on Verification Requirement for 506(c) Offerings

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… more

Capital Markets, Capital Raising, Compliance, Disclosure Requirements, Investors

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Michael Shifrin

SB76: Florida’s Attempt to Reduce Insurance Litigation and Attract Insurance Carriers

Introduction: On July 1, 2021, Florida’s Senate Bill 76 (“SB76”), which modified several provisions that impact Florida’s property insurance litigation, went into effect. This bill was Florida’s latest attempt to stabilize the… more

Insurance Claims, Insurance Industry, Insurance Litigation, Property Damage, Property Insurance

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Pauline Tarife

Attention All Home Improvement Contractors

It is no secret that the market has been consumer friendly over the past couple of years and has caused an uptick in consumer spending on contractors to perform renovations on their homes. However, as the times have slightly… more

Construction Contracts, Construction Industry, Construction Project, New Jersey

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Paola Toro

U.S. Supreme Court Narrows the Scope of the Clean Water Act by Redefining the Definition of “Waters of the United States” and Eliminating Federal Jurisdiction over Certain Wetlands

On May 25, 2023, the United States Supreme Court released its long-anticipated decision in Sackett v. Environmental Protection Agency, which set out to resolve the uncertainty regarding the definition of “Waters of the United… more

Clean Water Act, Environmental Protection Agency (EPA), Navigable Waters, Sackett v EPA, SCOTUS

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Kyle Valente

NJ Appellate Division Holds that no Explicit Waiver is Needed for Enforcement of an Arbitration Provision between Sophisticated Parties

In a per curiam opinion issued February 8, 2023 in Cnty. of Passaic v. Horizon Healthcare Servs., Inc., No. A-0952-21, 2023 N.J. Super. LEXIS 10, at *3 (App. Div. Feb. 8, 2023), the New Jersey Appellate Division held that an… more

Arbitration, Arbitration Agreements, Commercial Contracts

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Christopher Vaughan

Coinbase, Inc. v. SEC

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… more

Administrative Procedure Act, Appeals, Blockchain, Cryptocurrency, Digital Assets

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Edward Velky

New Jersey's Prompt Payment Act

In 2006, New Jersey enacted the “Prompt Payment Act,” codified at N.J.S.A. § 2A:30A-1, et seq. (the “Act” or “PPA”). The Act requires the prompt payment of contractors, subcontractors, sub-subcontractors, and material… more

Compliance, Construction Contracts, Construction Industry, Construction Project, Contractors

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Jordan Weitberg

Uses of Exculpatory Clauses in Wills and Trusts

In this podcast hosted by American College of Trust and Estate Counsel (ACTEC), Bressler’s Jordan Weitberg and ACTEC Fellow Travis Hayes discuss the use of exculpatory clauses in wills and trusts. Specific topics include the… more

Burden of Proof, Enforceability, Exculpatory Clauses, Fiduciary Duty, Trustees

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Elizabeth C. Wheeler

Florida Adopts Additional Protections for Senior Investors in the 2025 Legislative Session

June is Elder Abuse Awareness Month, a time to raise awareness of the growing trend of financial exploitation, which has become one of the most prevalent forms of abuse targeting the senior population. During the 2025… more

Beneficial Owner, Broker-Dealer, Elder Abuse, Exploitation, Financial Institutions

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Katelyn Wilson

Private Placement Offerings are on the Rise — Know your Obligations; FINRA Notice 23-08

On May 9, 2023, FINRA issued Regulatory Notice 23-08 (the “Notice”) to remind members of their obligations when selling private placements (i.e., unregistered securities sold pursuant to safe harbors of the Securities Act of… more

Capital Markets, Financial Industry Regulatory Authority (FINRA), Private Placements, Public Offerings, Securities Act of 1933

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Christina Zarcone

Recent NLRB Developments Affecting Severance Agreements And Protecting Complaints Regarding Systemic Racism

Confidentiality and Non-Disparagement Clauses Violate Section 7 Rights - On February 21, 2023, in McLaren Macomb, the National Labor Relations Board (NLRB or the Board) reversed its previous position taken in Baylor University… more

Confidentiality Agreements, NLRA, NLRB, Non-Disparagement Provisions, Section 7

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Hope Zelinger

Insurer’s Counsel Wins One of the First Sixth District Court of Appeals Decisions in Insurance Defense Case

Fort Lauderdale, FL (March 2023) – Bressler, Amery & Ross, P.C. attorneys Hope C. Zelinger and Lilian Rodriguez-Baz successfully represented United Property & Casualty Insurance Company in an insurance defense appeal. This is… more

Appeals, Insurance Claims, Insurance Industry, Insurance Litigation

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Bressler, Amery & Ross, P.C.

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