Recent Blog Posts
- Equal Pay: The Evolving Landscape Equal pay for equal work has been required for many years, but, as of late, this rather static requirement has become the focal point of regulators, state and local governments, and activists. In order to achieve equality in compensation, the efforts are becoming increasingly creative with new pushes for transparency, privacy, and/or disclosures. Financial services firms are often the target and should not only be aware of these innovative measures and requirements but also consider what proactive actions to put... More
- Looking Ahead: Executive Compensation for Financial Services in a Trump Administration A month into the Trump presidency, there have been a number of important statements from the executive branch on the regulation of executive compensation impacting the financial services industry. On February 3, 2017, President Trump issued a statement on the core principles for regulating the U.S. financial system (“Core Principles”). The statement requires the Treasury and all heads of member agencies of the Financial Stability Oversight Council to report within 120 days (by June 3, 2017) all existing laws, treaties,... More
- Immigration Update: Travel Ban and Other News for Employers The Immigration Law Group at Epstein Becker Green released a Special Immigration Alert that will be of interest to our readers.
President Trump Issues Revised Executive Order on Travel
USCIS Suspends Premium Processing for H-1B Petitions Starting April 3, 2017: All H-1B Petitions, Including H-1B Cap Petitions, Are Affected!
Use of New Form I-9 Is Now Mandatory
IRS Announces That Delinquent Taxpayers Face Revocation/Denial of U.S. Passports
DHS Issues Two New Memos on Enforcement/Border Security
Read the full alert here.
- Employers: How to Prepare for “A Day Without” Actions A new post on the Management Memo blog will be of interest to many of our readers in the financial services industry: “‘A Day Without’ Actions – How Can Employers Prepare?” by our colleagues Steven M. Swirsky and Laura C. Monaco of Epstein Becker Green.
Following is an excerpt:
[T]he same groups that organized the January 21, 2017 Women’s March on Washington – an action participated in by millions of individuals across the county – has called for a “Day Without Women” to be held on Wednesday, March... More
- How the Trump Administration May Impact the Oversight and Enforcement of Dodd-Frank’s Whistleblower Protections On the campaign trail, President Trump vowed to “dismantle” Dodd-Frank. Dodd-Frank was enacted in the wake of the 2008 financial crisis to curtail risky investment activities and stop financial fraud through increased oversight and regulation of the banking and securities industries. Among other things, it amended the Sarbanes-Oxley Act, Securities Exchange Act, and Commodity Exchange Act to include monetary incentives for individuals to blow the whistle on suspected financial fraud and stronger protections for whistleblowers against retaliation by their employers.... More
- Delayed: DOL’s Fiduciary Rule The Department of Labor (“DOL”) has issued a proposed rule (the “Proposed Rule”) that would delay for 60 days (the “60-Day Delay”) the April 10, 2017 applicability date of the DOL’s new fiduciary rule (the “Fiduciary Rule”). Given the potential change in the applicability date, financial services institutions will need to determine if they will continue their work toward implementation of the Fiduciary Rule or if they will delay their efforts.
The Proposed Rule provides for a 15-day comment period on... More
- Recent Executive Orders Have Immediate Immigration Impacts, but Overnight Overhaul of U.S. Immigration System Is Unlikely A version of this article originally appeared in the Take 5 newsletter “Five Employment Issues Under the New Administration That Financial Services Employers Should Monitor” on February 28, 2017.
It is no secret that the new administration under President Trump brings with it a fundamental shift in executive attitude with respect to both legal and illegal immigration. The transitional period leading up to January’s inauguration left employers and their foreign national employee populations mired in uncertainty regarding the future of former President... More
- D.C. Mayor Signs Ban on Most Employment Credit Inquiries Our colleagues Brian W. Steinbach and Judah L. Rosenblatt, at Epstein Becker Green, have a post on the Heath Employment and Labor blog that will be of interest to many of our readers in the financial services industry: “Mayor Signs District of Columbia Ban on Most Employment Credit Inquiries.”
Following is an excerpt:
On February 15, 2017, Mayor Muriel Bowser signed the “Fair Credit in Employment Amendment Act of 2016” (“Act”) (D.C. Act A21-0673) previously passed by the D.C. Council. The Act amends the Human... More
- New DOL FAQs Provide Additional Guidance (and Comfort) for Plan Sponsors Based on recent guidance from the Department of Labor (the “DOL”), many sponsors of employee benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA Plans”) should have additional comfort regarding the impact of the conflict of interest rule released by the DOL in April 2016 (the “Rule”) on their plans. Even though it is widely expected that the Trump administration will delay implementation of the Rule, in mid-January 2017, the DOL released its “Conflict... More
- Five Issues Financial Services Employers Should Monitor Under the Trump Administration In the new issue of Take 5, our colleagues examine five employment, labor, and workforce management issues that will continue to be reviewed and remain top of mind for employers under the Trump administration:
Change in Labor Landscape Is Not Likely to Come Quickly
For Wage and Hour Changes, Look Locally
Employer Group Health Plans Post-ACA: What’s Next for Employers and Workers?
Examination of Retirement Plans Under a Trump Administration Microscope
Cyber Threats Are Front and Center for Employers as the Trump Administration Takes Office