Tag:federal trade commission

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FTC Ban on Non-Competes Could Be Challenging to Asset Managers

FTC Ban on Non-Competes Could Be Challenging to Asset Managers

By: Ed Dartley and Robert H. McCarthy, Jr.

On 23 April 2024, the Federal Trade Commission (FTC) voted 3-2 to approve a rule that will prohibit for-profit employers from either entering into non-compete clauses with workers or enforcing existing non-compete clauses against most workers (the Non-Compete Rule). Initially proposed in January 2023 (and discussed here), the Non-Compete Rule’s impact on asset managers will be significant if and when it becomes effective, which is currently scheduled to be in August 2024.

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