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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-05-14T19:33:00
Staff at the Federal Trade Commission (FTC) offered several steps businesses can take to comply with the agency’s upcoming ban on employee noncompete clauses.
The rule, approved by the FTC in a 3-2 vote in April, is expected to take effect Sept. 4. It will prohibit most employers from enforcing noncompete clauses and requiring workers to sign them.
The rule will free an estimated 30 million employees from noncompete agreements, which are legal contracts that prohibit workers from working for another employer in the same field for a certain length of time. The FTC described noncompete contracts as anti-competitive and in violation of Section 5 of the Federal Trade Commission Act.
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News and analysis for the well-informed compliance or audit exec.
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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.
2024-04-24T20:01:00Z By Adrianne Appel
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 by the Federal Trade Commission.
2024-03-07T22:33:00Z By Adrianne Appel
The Federal Trade Commission is amid a crackdown on businesses misusing browsing and location data that provide enough information to be used to identify nonconsenting consumers.
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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