News

This week, a Texas district court ruled that the Federal Trade Commission (FTC) cannot enforce its ban on noncompete agreements.

Two lawsuits seek to block the Federal Trade Commission (FTC) ban on noncompete agreements from taking effect as scheduled on Sept. 4.

The Big “I” government affairs team released a video explaining the rule, its effect on independent agents and the current state of play.

Independent insurance agents who are considering the impact of the new regulation on their agencies and firms should consider some of the rule’s key elements and certain revisions that were incorporated in the final text.

The legislation would have banned the use of noncompete agreements and potentially other forms of employment contracts in the Empire State.

This week, the National Labor Relations Board (NLRB) issued an interpretative memorandum asserting that many non-compete agreements interfere with employees rights.

In its submitted comments, the Big “I” stated that its “members have significant interest in the proposed regulation and worry the proposal will threaten the competitiveness, viability, and value of their businesses.”

The proposed new rule would prohibit the use of noncompete agreements and would apply to employees, independent contractors, interns, volunteers, apprentices, and other types of workers.

House Republicans’ letter states that the FTC is exceeding its delegated authority and lacks congressional authority in federal statute to initiate this type of rulemaking.

The current 60-day comment period is a remarkably short window for the business community to assess the sweeping effects of the startling proposal to ban noncompete agreements.