Persuader Activity Regulation PublishedMarch 24, 2016 – Articles
On March 23, 2016, the US Department of Labor released a final regulation that will significantly alter the scope of the “advice” exemption under the Labor Management Reporting and Disclosure Act. This exemption currently permits attorneys and consultants to provide “advice” to clients regarding labor related issues without creating a duty of the attorneys or their clients they serve to register with the Department of Labor and disclose information to the government with regard to those services. The final regulation is scheduled to take effect 30 days after it is published and will be applicable to arrangements between employers, law firms and consultants beginning on July 1, 2016. Dinsmore will be reviewing the regulation, which is 446 pages in length, and reporting to clients what impact the regulation will have on reporting requirements in the near future.