Raymond James Preps for DOL’s Independent Contractor Proposal
May 8, 2023 by John Manganaro
Back in October, the Labor Department released a proposed rule under the Fair Labor Standards Act to be used by employers to determine worker classification more strictly as either an independent contractor or an employee.
While hailed by workers’ rights advocates as an important step meant to protect vulnerable populations at risk of exploitation on the job, the act also immediately sparked a backlash from leaders across a number of industries — among them financial services — who feel their organizations will suffer significant and unintended collateral damage from the proposal’s broad scope.
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