FIA and FIA PTG support legal challenge of US FTC rule banning noncompete agreements

25 June 2024

FIA and the FIA Principal Traders Group along with several other financial services trade associations have filed an amicus brief in a second case involving the US Federal Trade Commission’s proposed rule that would ban nearly all noncompete agreements in the US.

In this brief, the associations again highlighted the practical challenges of the rule for the financial industry and warned that it would harm competition and endanger confidential information. The associations include the Securities Industry and Financial Markets Association and the Managed Funds Association.

The lawsuit is ATS Tree Services, LLC v. FTC and is being heard in the US District Court for Eastern Pennsylvania.

FIA and PTG previously submitted an amicus brief in a case challenging the FTC rule filed in the US District Court for Northern Texas. That case is still pending.

Read the amicus brief.

  • PTG