Wednesday, March 28, 2018
On February 7, 2018, the New York State Department of Financial Services (“DFS”) issued guidance for entities with a Bit License or those handling virtual currency that are chartered as limited purpose trust companies under New York’s Banking Law. The guidance focuses on fraud detection and prevention of market manipulation of virtual currency pricing and essentially amplifies … More »
Tuesday, April 18, 2017
On November 28, 2016, Governor Cuomo signed into law amendments to the New York Not-For-Profit Corporation Law (the "NPCL") that will become effective May 27, 2017 (the "Amendments"). The Amendments build upon the 2015 amendments to the Nonprofit Revitalization Act that Governor Cuomo signed into law in 2013 and generally improve and clarify certain NPCL terms, particularly with respect to … More »
Monday, March 6, 2017
On September 13, 2016, New York State proposed new cybersecurity requirements for banks, insurance companies, and financial service businesses regulated by the New York State Department of Financial Services ("DFS"). The regulations were amended based on public comments and went into effect on March 1, 2017. The regulations are a response to threats posed to information and financial systems by … More »
Wednesday, March 1, 2017
Employers Should Revisit How They Draft and Present Certain Provisions in Their Employment Agreements
Employers should revisit their practices in drafting and presenting restrictive covenants in employment agreements in light of actions by Congress and New York State courts. In 2016, the Defend Trade Secrets Act (DTSA) took effect and created a federal cause of action for the protection of trade secrets. On a state level, the Supreme Court in Erie County refused to partially enforce a … More »
Tuesday, January 10, 2017
On December 28, 2016, the New York State Department of Labor published its final regulation that affects the ability of certain workers to be classified as exempt from overtime. The salary amount that employers must pay to administrative and executive employees to obtain an exemption from overtime pay will now vary depending on the employer's location within the state and the size of the employer.
Tuesday, May 24, 2016
U.S. Department of Labor Releases Final Rule on Overtime and Doubles Salary Threshold for Common OT Exemptions
Today, the U.S. Department of Labor released its Final Rule on the changes to the federal overtime law. We previously wrote about the Proposed Rule here. While slightly less onerous than the Proposed Rule, the effects of the Final Rule are just as significant for employers. In an effort to provide notice as quickly as possible, we will highlight only the most significant … More »
Thursday, April 14, 2016
On January 19, 2016, a set of bills, collectively referred to as the Women's Equality Act, became effective after being signed by Governor Cuomo last year. The Women's Equality Act seeks to expand and strengthen legal protections for women in the workplace. Employers should be cognizant of the five employmentrelated laws outlined below.
Friday, June 26, 2015
Julie Riewe, co-chief of the Asset Management Unit of The Securities and Exchange Commission's Enforcement Division, identifies where the AMU will focus their enforcement efforts in 2015.
Wednesday, January 21, 2015
Gov. Cuomo signs bill eliminating notification requirement for employers related to the Wage Theft Prevention Act
Thursday, July 17, 2014
There are many minor tweaks employers can make to a separation agreement to help counter the issues the EEOC has identified in its (recent) lawsuits, including reducing what could be considered difficult to understand legal terminology, shortening the agreement, and clearly outlining the employee's right to file a charge and to cooperate with any government agency.