There have been so many cases involving employees in the financial services industries and their exempt status or lack thereof. In another variation on this theme, Provident Savings Bank is
Continue Reading Bank Files Cert Petition to US Supreme Court On Administrative Exemption: The Neverendng Story
Financial Services Industry
New Jersey Federal Court Finds Financial Advisers Exempt as Administrative Employees: A Trend?
Corinne Burzichelli writes:
The issue of the exempt status of financial services employees has been explored in numerous cases for many years and in different parts of the country. Now,…
Continue Reading New Jersey Federal Court Finds Financial Advisers Exempt as Administrative Employees: A Trend?
Morgan Stanley Settles Four Collective Actions: The Specter of Off-the-Clock Lawsuits Continues to Haunt
The financial giant Morgan Stanley announced that it will settle four FLSA collective actions for six million dollars; the suits, filed by financial adviser trainees, alleged that they were not…
Continue Reading Morgan Stanley Settles Four Collective Actions: The Specter of Off-the-Clock Lawsuits Continues to Haunt
Bank Underwriters Fall Within Administrative Exemption: The Tension Between Use of Skill and Experience and Discretion/Independent Judgment
The grayest of the white collar exemptions (as I often have said) is the administrative. In a 2-1 decision, the Sixth Circuit has again proven the truth of this maxim. …
Continue Reading Bank Underwriters Fall Within Administrative Exemption: The Tension Between Use of Skill and Experience and Discretion/Independent Judgment
Validity of USDOL 2010 White Paper On Loan Officers Being Challenged: Let’s Start The New Year Off On The Right Note!
The status of employees in the financial services industry has been the subject of numerous lawsuits and controversies. The “new” FLSA regulations (from 2004) even postulate that a financial services…
Continue Reading Validity of USDOL 2010 White Paper On Loan Officers Being Challenged: Let’s Start The New Year Off On The Right Note!