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The Securities and Exchange Commission today charged Stephen J. Easterbrook, former CEO of McDonald’s Corporation, with making false and misleading statements to investors about the circumstances leading to his termination in November 2019. McDonald’s…
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
SEC Charges Former BlackRock Portfolio Manager with Undisclosed Conflict of Interest
The Securities and Exchange Commission today charged Randy Robertson, a former BlackRock Advisors, LLC portfolio manager, for failing to disclose a conflict of interest arising from his relationship with a film distribution company in which the fund he…
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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
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The Securities and Exchange Commission today charged Randy Robertson, a former BlackRock Advisors, LLC portfolio manager, for failing to disclose a conflict of interest arising from his relationship with a film distribution company in which the fund he…
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
Non-Compete Agreements Going Away?
Over the years the courts have been limiting, if not outright striking, non-compete agreements which prohibit employees from working in their chosen profession for a period of time or in a geographic area.
Those agreements can be extremely harmful to the employee, and limit competition in the markets. The reality is that employers have an interest in protecting their intellectual property, but that protection can be provided by a carefully drafted confidentiality agreement and non-solicitation agreement, protecting trade secrets and other proprietary information. Banning an employee from working in his or her chosen profession is not necessary.
The FTC has taken up the issue, proposing a ban on non-compete agreements.
The Federal Trade Commission proposed a new rule that would ban employers from imposing noncompetes on their workers, a widespread and often exploitative practice that suppresses wages, hampers innovation, and blocks entrepreneurs from starting new businesses. By stopping this practice, the agency estimates that the new proposed rule could increase wages by nearly $300 billion per year and expand career opportunities for about 30 million Americans.
The FTC is seeking public comment on the proposed rule, which is based on a preliminary finding that noncompetes constitute an unfair method of competition and therefore violate Section 5 of the Federal Trade Commission Act.The FTC press release is online. Forbes’ commentary on the proposed rule is also worth reading.
—Mark Astarita represents financial advisors across the country in all aspects of their professional careers, including drafting, and litigating non-compete agreements. Contact him at 212-509-6544 or by email at mja@sallahlaw.com, or visit The Securities Lawyer.
#securitiesattorney
Over the years the courts have been limiting, if not outright striking, non-compete agreements which prohibit employees from working in their chosen profession for a period of time or in a geographic area.
Those agreements can be extremely harmful to the employee, and limit competition in the markets. The reality is that employers have an interest in protecting their intellectual property, but that protection can be provided by a carefully drafted confidentiality agreement and non-solicitation agreement, protecting trade secrets and other proprietary information. Banning an employee from working in his or her chosen profession is not necessary.
The FTC has taken up the issue, proposing a ban on non-compete agreements.
The Federal Trade Commission proposed a new rule that would ban employers from imposing noncompetes on their workers, a widespread and often exploitative practice that suppresses wages, hampers innovation, and blocks entrepreneurs from starting new businesses. By stopping this practice, the agency estimates that the new proposed rule could increase wages by nearly $300 billion per year and expand career opportunities for about 30 million Americans.
The FTC is seeking public comment on the proposed rule, which is based on a preliminary finding that noncompetes constitute an unfair method of competition and therefore violate Section 5 of the Federal Trade Commission Act.
The FTC press release is online. Forbes’ commentary on the proposed rule is also worth reading.
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Finra Panel Orders Fidelity To Pay Ex-Broker $500K In Defamation Case
Finra Panel Orders Fidelity To Pay Ex-Broker $500K In Defamation Case: The panel also ruled that the records of termination are to be expunged.
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Finra Panel Orders Fidelity To Pay Ex-Broker $500K In Defamation Case: The panel also ruled that the records of termination are to be expunged.
SEC Charges Creator of CoinDeal Crypto Scheme and Seven Others in Connection with $45 Million Fraud
The Securities and Exchange Commission today charged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme named CoinDeal…
Read the Full Press Release
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
#securitiesattorney
The Securities and Exchange Commission today charged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme named CoinDeal…
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.