Some of the biggest companies are ending their diversity, equity and inclusion (DEI) initiatives — and doing so quickly. In all of the cases above, pressure by conservative activist Robby Starbuck forced the companies’ hands. Brown-Forman, for example, emailed Starbuck of its decision to ditch DEI just days after receiving complaints. Employees of companies that […]
The Federal Trade Commission (FTC) ban on non-compete agreements won’t go into effect in early September and is doubtful to become the law of the land anytime soon. A federal district court judge in Texas granted summary judgment for a tax services provider that sued the FTC. The judge ruled the FTC lacked statutory authority […]
Twenty-six financial firms are on the hook for $392.75 million in fines for securities recordkeeping violations. Several of the brokers, dealers and investment advisers made themselves a target by not keeping records of their communications. “Off-channel” communication enforcement efforts are up under the Securities & Exchange Commission (SEC). The feds stressed the need for greater […]
A North Texas company made a very expensive mistake. It misclassified workers as contractors and didn’t pay them for overtime put in. The Department of Labor’s (DOL) wage & hour division determined that 430 heating, ventilation and air-conditioning (HVAC) technicians got stiffed by C&G HVAC, a contracting company in Dallas. DOL estimated the workers lost […]
The U.S. Supreme Court (SCOTUS) handed down enough precedent-breaking decisions this spring to make anyone’s head spin. The upshot: Businesses can expect to see fewer costly rules from federal regulators over the next 10 years. ResourcefulFinancePro covered nearly all of these cases, from the time SCOTUS announced it would hear appeals of lower court rulings, […]
The Financial Accounting Standards Board (FASB) is calling on publicly traded companies to report employee compensation. And that’s not all. As we reported a few months back, FASB also wants public firms to report manufacturing and inventory expenses on their financial reports. The board unanimously (7-0) approved the disaggregation of income statement expenses (DISE) rule. […]
The Department of Labor’s independent contractor (IC) rule that went into effect on March 11 is forcing many businesses to triple-check they’re in full compliance. The rule helps to clarify gray areas in IC/employee determinations. Employers must follow a six-factor test in Labor’s rule to comply with the Fair Labor Standards Act. Classifying someone as […]
A federal ban on employee non-compete agreements may not go into effect in September after all. Two lawsuits scheduled to be decided in late July and the end of August may put the kibosh on the Federal Trade Commission’s (FTC) rule to eliminate most non-competes. A federal judge granted an injunction on behalf of a […]
Full disclosure: We never know for certain which topics will grab the attention of CFOs, controllers and other finance professionals. Often times we know, like when withholding tables for the following year are announced. But sometimes, we’re surprised by how an off-the-beaten-track story resonates. Regardless of how many times a story is clicked on and […]
