The FTC’s proposed ban on non-compete agreements would significantly impact how businesses operate. The federal government received nearly 27,000 comments on the proposed rule, which was published last year – both for and against the ban. It’s unclear what the final rule, anticipated in April, will look like. But if the final rule mirrors last year’s proposal there will be far-reaching consequences for the financial industry. Davis+Gilbert Labor + Employment partner David Fisher was quoted in the CNBC article, “One of Wall Street’s Favorite Ways To Control Workers Is Under Attack” discussing the different ways the FTC could decide to tailor the rule.
As seen in the article, “There are many ways they could craft this rule to recognize the value that non-compete agreements bring … while at the same time protecting employees subject to them and their ability to earn a living and protect their families… There is a middle ground there that this rule doesn’t seem to acknowledge as currently drafted.”