Joseph B. Cartafalsa represents management in all aspects of labor and employment law and related litigation. He frequently represents and advises employers on their rights and obligations under the myriad of federal, state and local employment related laws and regulations. He has worked closely with employers to provide counseling during particularly sensitive times such as during layoffs, mergers or corporate restructuring; when sexual harassment or discrimination is alleged; and when an employee requests a medical leave or job accommodation. Mr. Cartafalsa has also been called upon to draft and review employment contracts and non-compete agreements to protect his clients from unfair competition and the theft of trade secrets. He is a regular presenter at CLEs and industry conferences regarding labor and employment law issues.
Insights by Joseph B. Cartafalsa
On December 1, 2020, Nasdaq filed a proposed rule with the U.S. Securities and Exchange Commission (SEC) that would require certain Nasdaq-listed companies to have at least two diverse directors (according to self-reported gender, race, and sexual orientation) or explain why the company has not been able to meet the proposed minimum diversity standards, and disclose certain board diversity-related statistics.
On December 1, 2020, the Nasdaq Stock Market LLC filed a proposal with the U.S. Securities and Exchange Commission (SEC) to establish a new rule that would require diversity on corporate boards of directors and transparency regarding the composition of boards.
On July 24, 2020, the Federal Deposit Insurance Corporation (FDIC) released a final rule to revise and codify into the agency’s regulations the FDIC’s Statement of Policy (SOP) on Section 19 of the Federal Deposit Insurance Act. Section 19 generally prohibits any person from participating in banking who has been convicted of a crime “involving dishonesty, breach of trust, or money laundering, or who has agreed to enter into a pretrial diversion or similar program in connection with a prosecution for any such offense,” without first obtaining written consent from the FDIC. The SOP provides guidance relating to Section 19 and the FDIC’s application of the statute.
On March 10, 2020, the New York State Department of Financial Services (NYSDFS), which regulates a variety of financial service entities such as banks, credit unions, check cashers, insurance companies, mortgage brokers, investment advisors, and cryptocurrency businesses, issued guidance in a series of “industry letters” and “circular letters” requesting “assurance” of operational preparedness relating to COVID-19. Such operation preparedness plans include a plan to maintain an adequate workforce, including remote work and other strategies to safeguard the workforce.
On December 30, 2019, New York governor Andrew M. Cuomo signed legislation requiring the New York State Department of State, partnered with the Department of Taxation and Finance, to conduct a study of the proportion of female members on the boards of domestic and foreign corporations licensed to do business in New York.
In response to the #MeToo movement, a number of states have adopted legislation addressing sexual harassment claims. These include Maryland, New Jersey, New York, and Washington. Some of these state statutes attempt to ban or restrict arbitration for sexual harassment claims.