Greater Cheyenne Chamber
It Doesn’t Add Up: FTC Rule On Noncompetes
The FTC’s attempted noncompete rules will impact a significant portion of the economy.
Feedback from Business: Given the breadth of the rule, a sufficient comment period is needed to ensure the business community can fully assess its effects.
Failure to provide an accurate assessment indicates that the agency is being misleading about the accrual of associated wage increases with its proposed rule.
Sweeping regulations, like banning non-competes, should be based on sound data that is widely understood and vigorously vetted.
For the business community, this overreach means that the FTC can find business operations deemed ‘unfair’ and possibly illegal.
WY We Care: Considering the potential impact of this proposal, the Greater Cheyenne Chamber of Commerce urged the FTC to extend the comment period an additional 60 days.
Among the issues raised are: whether the FTC has the legal authority to issue such a rule, the rule’s potential effect on numerous state laws and regulations, and how this will alter the business community’s legal obligations.