In late September, a significant development occurred between the Federal Trade Commission (FTC) and the U.S. Department of Labor (DOL). The two agencies announced the signing of a Memorandum of Understanding (MOU). The MOU served as a symbol of the agencies’ expressed “good-faith intentions” to work collaboratively.
What does the collaboration entail? Details of the agreement reveal plans to “address the need for information sharing, coordinated investigations and enforcement activity, training, education, research, and outreach between the agencies.” The alliances of such powerful entities suggest a collective effort to strengthen their impact and effectiveness in the face of complexities within the legal sphere.
Exactly how their cooperative efforts will play out remains to be seen. That being said, legal professionals worldwide might want to keep abreast of these developments. Given the significance of FTC and DOL’s mandates, their conjoint efforts could have sweeping implications for corporations’ and law firms’ operations.
For more details on the MOU and the agencies’ collaboration, read more here.