The Federal Trade Commission (FTC) will be hosting an online compliance webinar on May 14, 2024, at 11 a.m. ET to discuss the final rule banning noncompetes. According to the FTC, the rule prohibits the use of noncompetes for the majority of workers nationwide, with exceptions for existing noncompetes involving senior executives.
The FTC's final rule states, "Employers are banned from entering into or attempting to enforce any new noncompetes, even if they involve senior executives." However, existing noncompetes for senior executives can still be enforced. Employers must inform workers, other than senior executives, who are bound by existing noncompetes that these agreements will not be enforced after the rule's effective date.
Individuals are encouraged to submit questions ahead of the webinar by emailing asknoncompete@ftc.gov. The webinar, which is free and open to the public, will provide an overview of the rule and address pre-submitted questions. It is expected to last 45 minutes and will be conducted by staff from the FTC's Office of Policy Planning.
A link to access the webinar will be provided on the day of the event via FTC.gov. Additionally, the webinar will be recorded and made available on the Commission's website following the meeting. Detailed information about the rule and a Business and Small Entity Compliance Guide can be found on the FTC's website.
The FTC's core mission is to promote competition, protect consumers, and provide education on these matters. The organization emphasizes that it will never demand money, issue threats, request money transfers, or offer prizes. For more information on how competition benefits consumers or to file an antitrust complaint, individuals can visit the FTC's website. To stay updated on news and resources, individuals are encouraged to follow the FTC on social media, subscribe to press releases, and read the FTC blog.
