The May 14 webinar will provide an overview of the rule and address public questions.
05/03/2024 2:00 P.M.
1.5 minute read
The Federal Trade Commission will host an online compliance webinar on May 14, 2024, at 11 a.m. ET to discuss the FTC’s final rule prohibiting noncompetes.
The FTC recently voted on the final rule in a special meeting on April 23. The rule will take effect 120 days after publication in the Federal Register, approximately Aug. 21, 2024.
The rule applies to the majority of workers across the nation, with exceptions for existing noncompetes for senior executives.
Under the new rule, employees are prohibited from:
- Entering into or attempting to enter into a noncompete with a worker;
- Maintaining a noncompete with a worker; or
- Representing to a worker, under certain circumstances, that the worker is subject to a noncompete.
Additionally, the FTC has said the rule could increase wages by nearly $300 billion annually and grow career opportunities for about 30 million Americans, ACA International previously reported.
Employers must notify workers, excluding senior executives, bound by existing noncompetes that these agreements will not be enforced after the rule takes effect.
Last month, the U.S. Chamber of Commerce and business groups filed a lawsuit (PDF) in Texas district court challenging the rule, ACA previously reported.
The lawsuit seeks to block the rule and delay the effective date pending the conclusion of the case.
The webinar, conducted by FTC’s Office of Policy Planning, will provide an overview of the rule and address pre-submitted questions. It is expected to last 45 minutes and is free to attend. Members of the public are encouraged to submit questions ahead of the webinar via email at mailto:[email protected].
A link to the webinar will be available on the day of the event on FTC.gov. Additionally, the webinar will be recorded and accessible on the commission’s website post-event. Detailed information, including a summary of the rule and a Business and Small Entity Compliance Guide, is already available on the FTC’s website.
You can find more information on the May 14 webinar here.
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