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Polsinelli

Federal Reserve Board Enforcement Action Raises Concerns as to Reach of Regulators’ Jurisdiction

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Key Takeaways - The Federal Reserve Board issued a removal and prohibition order against a former bank employee based on alleged misconduct unrelated to her role at the bank, raising concerns about the scope of regulatory...more

Troutman Pepper Locke

Implications of the FTC’s Noncompete Ban on Financial Institutions

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There has been a great deal of press about the Federal Trade Commission’s (FTC) vote to ban employee non-competition provisions and policies. While the FTC describes the rule as a comprehensive ban, it acknowledges that the...more

Ballard Spahr LLP

FDIC Proposes Limitations on Use of Non-Competes

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On March 21, 2024, the Federal Deposit Insurance Corporation (“FDIC”) issued its proposed Statement of Policy on Bank Merger Transactions (the “Proposal”) for public comment. The Proposal seeks to update guidance, last...more

Bodman

Unions Are Seeking to Organize in Non-Traditional Industries, Including Financial Services

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Union organizing efforts are not limited to historical union strongholds such as manufacturing, construction, and the public sector. Even though unions currently represent only about 1.3% of the financial services industry,...more

A&O Shearman

D&I in FS: practical considerations for designing and implementing an inclusive culture

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Developing and maintaining an inclusive environment is crucial for realising the benefits of having a diverse organisation. With this in mind, the UK Financial Conduct Authority (FCA) and UK Prudential Regulation Authority...more

Ius Laboris

UK ends cap on bankers’ bonuses

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It’s official. The UK’s cap on bankers’ bonuses has been lifted. There are some opportunities for firms here, but it shouldn’t mean a return of excessive risk taking....more

Littler

Canada Adds Exemptions from Hours of Work Requirements for Certain Employees in Banking, Telecommunications and Broadcasting,...

Littler on

On August 16, 2023, Canada published Regulation SOR/2023-180 under the Canada Labour Code (CLC) (Amending Regulation).  The Amending Regulation exempts certain classes of employees in the banking, telecommunications and...more

Ballard Spahr LLP

Missouri joins state efforts to regulate earned wage access providers

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On August 28, 2023 (the “Effective Date”), SB 103, signed into law by Missouri’s governor, will become the nation’s second statutory framework for earned wage access (EWA) providers.  The Missouri law closely resembles...more

CDF Labor Law LLP

Complying with Wage and Hour Obligations in the Face of Crisis

CDF Labor Law LLP on

The recent seizure and shutdown of two prominent regional banks – Silicon Valley Bank and Signature Bank – highlights for employers the issues that an unexpected liquidity crisis may bring. And, it’s not just banking...more

K&L Gates LLP

Silicon Valley Bank Collapse: Implications for Employers

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UPDATE: SVB depositors are expected to be able to access their deposits on 13 March, 2023. We are closely watching developments on this topic. For more information, refer to this Joint Statement by the Department of the...more

Sheppard Mullin Richter & Hampton LLP

What We Know And Don’t About The Federal Court Order Enjoining EO 14042

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In news that will be of interest to every federal contractor, including large and small businesses, universities, banks, and the health care industry, Executive Order 14042 (along with the related Task Force Guidance and...more

McDermott Will & Schulte

Department of Labor Exemption Impacts Investment Advice Fiduciaries

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The US Department of Labor (DOL) recently issued guidance concerning a new exemption under the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) in connection with the provision...more

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