Compliance Stuff

Florida has long been where people go to unwind – and soon it will also be a place where businesses can operate with more peace of mind, thanks to a new law that will make it the most enforcement-friendly state in the country for non-compete and garden leave agreements . The “Florida Contracts Honoring Opportunity, Investment, Confidentiality, and Economic Growth (CHOICE) Act,” passed both the Florida House and Senate on April 24 and expected to be signed by Governor DeSantis, will reshape the state’s laws on restrictive covenants starting on July 1, 2025. T he Act does not amend any current statutes, but instead provides more certainty to employers looking to enforce certain non-compete agreements and agreements offering “garden leave” (a period of time where an employee is not required to perform any work but is still paid their salary and benefits in return for not accepting employment elsewhere) . Here is what employers should know about the CHOICE Act and three steps you can take ...

The Biden-Harris administration announces rule to protect retirement investors' savings.  The US Department of Labor has finalized the Retirement Security Rule---to protect workers who are saving for retirement and rely on advice from trusted professionals o how to invest their savings. This regulation is effective on September 23, 2024. To do this, the rule has updated the definition of an investment advice fiduciary under ERISA (Employee Retirement Income Security Act and the Internal Revenue Code.   The final rule requires trusted investment advice providers to give prudent, loyal, honest advice free from overcharges.  These fiduciaries must adhere to high standards of care and loyalty when they recommend investments and to not recommend investments that favor the investment advice provider's interest - financial or otherwise - at the retirement savers' expense.   Under the final rule and amended exemptions, the financial institutions overseeing investment advice ...