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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-04-24T20:01:00
Tens of millions of noncompete clauses included in employee contracts nationwide will be null and void by about Labor Day under a final rule issued Tuesday by the Federal Trade Commission (FTC).
The rule to largely ban noncompete clauses in the United States is already under fire, after a lawsuit filed Wednesday by business advocates cast some doubt on its future.
Noncompete clauses are legal contracts employees are required to sign, in fields ranging from baking to computer technology, that prohibit them from working for another employer in the same field for a certain amount of time. An estimated 30 million employees are subject to noncompete clauses, the FTC said in a press release announcing the rule.
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News and analysis for the well-informed compliance or audit exec.
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2024-05-14T19:33:00Z By Adrianne Appel
Staff at the Federal Trade Commission offered several steps businesses can take to comply with the agency’s upcoming ban on employee noncompete clauses.
2024-05-01T21:07:00Z By Adrianne Appel
Companies would be wise to prepare to comply with the Federal Trade Commission’s rule to ban noncompete clauses, despite legal challenges that might delay or prevent it taking effect altogether.
2024-04-29T18:50:00Z By Jeff Dale
Kitchen and home retail company Williams-Sonoma agreed to pay nearly $3.2 million for failing to comply with a 2020 administrative order by the Federal Trade Commission prohibiting its marketing of imported goods as made in the United States.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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