Insights

Time is Money: Navigating the DOL’s Final Overtime Rule

Insights, Adam C. Maxwell, Employment Spotlight

On April 23, 2024, the Department of Labor published a Final Overtime Rule that amends the regulations established under the Fair Labor Standards Act (FLSA) governing exemptions from minimum wage and overtime pay mandates for executive, administrative, and professional employees, as well as highly compensated employees. The Final Rule is set to take effect on July 1, 2024 and includes built-in adjustments of compensation levels on a going-forward basis.

FTC Adopts Final Rule Banning Employment Non-Compete Agreements

Insights, Employment Spotlight, Tedd M. Warden

On April 23, 2024, the Federal Trade Commission (FTC) adopted its long-awaited final “Non-Compete Rule,” (the “final rule”) imposing a comprehensive ban on the use of new non-compete agreements with all workers, including senior executives.

Q1-2024 Employment Spotlight

Employment Spotlight, Adam C. Maxwell, Insights

The U.S. Department of Labor’s new rule, eﬀective March 11, 2024, aims to clarify worker classiﬁcation under the Fair Labor Standards Act. It deﬁnes “independent contractor” based on economic dependence, utilizing a “six plus one” factor test. These factors slightly favor an employment relationship.

Federal Court in Alabama Rules the Corporate Transparency Act Unconstitutional

Insights

One of the newly enacted laws SFBBG has been following closely is the Corporate Transparency Act (the “CTA”), a federal statute that impacts the overwhelming majority of our clients. A discussion of the CTA can be found in our November newsletter.

Our New Legal World — Contactless Delivery of a Lawsuit / “Battle of the Forms” — A Primer (Winter 2024)

Sensible Solutions, Insights

Contributors: Andrew Johnson, Caleb Haydon

Illinois and Chicago Overhaul Paid Leave Laws in 2024

Insights, Adam C. Maxwell, Employment Spotlight

In 2024, the employment landscape in Illinois, particularly in Chicago, will undergo a significant transformation with the implementation of two pivotal laws governing paid leave for workers. The Illinois Paid Leave for All Workers Act (the “Act”) introduces a comprehensive state-wide standard for paid leave, ensuring a minimum of forty hours annually of paid leave—which can be used for any reason—for all employees.

Putting the “Success” into Succession Planning/The Corporate Transparency Act: What Business Owners Need to Know (Fall 2023)

Sensible Solutions, Insights

Contributors: Len Gambino, Marc Pawlus

The Corporate Transparency Act: What Business Owners Need to Know

Insights, Marc K. Pawlus, Sensible Solutions

The Corporate Transparency Act (“CTA”) was enacted in 2021 to improve transparency in order to prevent bad actors from engaging in money laundering, tax fraud, and other illicit activities from exploiting US companies. Beginning January 1, 2024, the CTA requires “reporting companies” to report information about the individuals who own or control the company to the Financial Crimes Enforcement Network (“FinCEN”).

Putting the “Success” into Succession Planning

Insights, Leonard J. Gambino, Sensible Solutions

Finding, grooming, and ultimately selling your business to one or more key employees is a process that typically takes several years. Once you have found the right successors, proper succession planning often involves two additional steps.

Another Strike Against Non-Competes / Balancing the BOTS: How to Harness the Power of AI without Falling Down the Rabbit Hole (Summer 2023)

Sensible Solutions, Insights

Contributors: Norm Finkel, Robert Goldberg, Kelly Cronin

Time is Money: Navigating the DOL’s Final Overtime Rule

FTC Adopts Final Rule Banning Employment Non-Compete Agreements

Q1-2024 Employment Spotlight

Federal Court in Alabama Rules the Corporate Transparency Act Unconstitutional

Illinois and Chicago Overhaul Paid Leave Laws in 2024

The Corporate Transparency Act: What Business Owners Need to Know

Putting the “Success” into Succession Planning

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