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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-05-01T21:07:00
Companies would be wise to prepare to comply with the Federal Trade Commission’s (FTC) rule to ban noncompete clauses, despite legal challenges that might delay or prevent it taking effect altogether.
The final rule, issued April 23, would ban most noncompete clauses in employee contracts by September. The clauses impede competition and violate Section 5 of the Federal Trade Commission Act, the FTC said.
An estimated 30 million U.S. employees across many sectors have been required to sign the clauses, which generally prohibit them from taking a job with another company based on region or industry for some amount of time after leaving employment. This restriction keeps talent out of the job pool and hampers innovation, said FTC Chair Lina Khan following a 3-2 vote on the rule along party lines.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
2024-05-10T19:30:00Z By Aaron Nicodemus
The Department of Justice’s Antitrust Division created a new task force to examine collusion and monopolies in the healthcare industry.
2024-05-01T14:00:00Z By Amii Barnard-Bahn
Despite significant issues outside the control of most chief compliance officers, some regulators have signaled more individual liability cases are to be expected. Will accepting the wrong job, in hindsight, make it your last?
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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