In a recent development in the business law sphere, the U.S. Chamber of Commerce has voiced its intentions to legally challenge the Federal Trade Commission (FTC) for planning to finalize a rule to prohibit noncompete agreements. Voicing its opposition, the U.S. Chamber of Commerce argues that such a ruling would encroach upon the FTC’s regulatory authority.
Neil Bradley, executive vice president and chief policy officer of the chamber, underscored the magnitude of the issue stating that “This issue is much bigger than the policy around noncompete.” Supporters of the Chamber’s stance believe the matter at hand has the potential to significantly impact the overall scope of the FTC’s independent regulatory power.
The FTC is expected to cast votes on the proposed rule, which seeks to prohibit noncompetes, on Tuesday. This would see the Chamber potentially taking legal action against the federal agency as early as Wednesday.
For more in-depth information on the brewing legal tussle, Law.com has an extensive report on the subject.