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.
Two top House committees considered legislation that would impact how agents and brokers conform with national data privacy laws and standards.
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 House Financial Services Committee has released draft legislation to amend and bolster the privacy requirements created by the Gramm-Leach-Bliley Act.
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.
The legislation, which passed on partisan lines, was the House Republicans’ first major bill of the year and was one of their top campaign issues throughout the midterms.
The rule would apply to employees, independent contractors, interns, volunteers, apprentices, and other types of workers.
The new mandate took effect on Jan. 1 and applies to both resident and nonresident licensees.
The executive order includes 72 initiatives by over a dozen federal agencies to tackle what President Biden deems are some of the most pressing competition problems in the U.S.
The bill would narrow the use of noncompete agreements to include only necessary instances of a dissolution of a partnership or the sale of a business.