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Apr 25, 2024 | 
jdsupra.com | Matthew Behrens |John Cannon III |Jessica Delbaum
On April 23, 2024, the Federal Trade Commission (“FTC”) issued the Non-Compete Clause Rule (“Final Rule”).[1] Under the Final Rule, after the effective date (120 days from publication in the Federal Register), almost all post-employment non-compete clauses covering workers will be considered an “unfair method of competition” that violates the FTC Act. These clauses effectively will be banned on a nationwide basis.
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Apr 15, 2024 | 
jdsupra.com | Matthew Behrens |John Cannon III |Doreen Lilienfeld
On April 3, 2024, the Department of Labor (DOL) released its final rule amending Prohibited Transaction Exemption 84-14 (PTE 84-14).
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Feb 5, 2024 | 
jdsupra.com | Matthew Behrens |John Cannon III |Doreen Lilienfeld
For many companies, the use of “form” employee documents is an efficient practice that ensures consistent treatment. That said, reliance on forms can often breed complacency.
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Nov 8, 2023 | 
jdsupra.com | Matthew Behrens |John Cannon III |John Finley
More than five years after the Fifth Circuit Court of Appeals decision to vacate the Department of Labor’s (DOL) 2016 fiduciary rule, the DOL has proposed a new rule that, once again, attempts to re-define when financial organizations are so-called “investment advice fiduciaries” subject to ERISA. The proposed rule will be of particular interest to broker-dealers, banks, investment advisers and insurance firms and their agents that interact with retail retirement clients.
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Oct 25, 2023 | 
jdsupra.com | Ryan Bray |John Cannon III |Larry Crouch
On October 17, 2023, the U.S. Internal Revenue Service (IRS) updated its Internal Revenue Manual (IRM)[1] to fully incorporate into the IRM certain e-signature policies and procedures permitting the use of electronic signatures on certain forms, including elections under section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code,”[2] and such elections, “Section 83(b) Elections”).
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Oct 5, 2023 | 
jdsupra.com | Matthew Behrens |John Cannon III |Doreen Lilienfeld
On September 27th, 2023, the SEC brought charges against six officers, directors and major shareholders of public companies for repeated failures to make timely filings pursuant to Section 13 and Section 16 of the Securities Exchange Act of 1934. In addition to the corporate insiders, the SEC charged five public companies for causing their insiders’ delinquent filings as a result of volunteering to prepare and file those reports, but not doing so in a timely manner.
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Sep 27, 2023 | 
jdsupra.com | Matthew Behrens |John Cannon III |Giulia La Scala
On June 9, 2023, the Securities and Exchange Commission (SEC) approved the New York Stock Exchange’s (NYSE) and Nasdaq Stock Market’s (Nasdaq) proposed clawback listing standards, including the amendments that delayed the effective date of the rules to October 2, 2023. Listed companies now have until December 1, 2023 to adopt Dodd-Frank-compliant clawback policies.
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Sep 26, 2023 | 
jdsupra.com | John Cannon III |Doreen Lilienfeld |Gillian Emmett Moldowan
The U.S. Senate recently passed the National Defense Authorization Act for Fiscal Year 2024 (the “NDAA”), which, if enacted, would subject insiders (i.e., directors, executive officers and greater than 10% shareholders) of foreign private issuers (“FPIs”) to the requirements of Section 16 of the Securities Exchange Act of 1934, as amended, with respect to their ownership and transactions in the securities of the relevant FPI.
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Jun 26, 2023 | 
jdsupra.com | Matthew Behrens |John Cannon III |Doreen Lilienfeld
On June 20, 2023, the New York State Assembly passed A1278B, which amends the state’s labor law to prohibit non-compete agreements (the “Bill”). The Assembly’s passage of the Bill, which comes on the heels of the New York State Senate’s June 7 passage of the Bill’s counterpart, is now headed to Governor Hochul’s desk for signature.
