Wednesday, December 23, 2020
The U.S. Department of Labor (DOL) has issued its long-awaited
Final Rule addressing who may share tips under the Fair Labor Standards Act (FLSA) and the circumstances under which employers may use a tip credit.
The Final Rule will be effective 60 days after publication in the Federal Register.
Summary of Final Rule
e.g., servers in the restaurant industry) to pool tips with non-tipped workers (
e.g., cooks and dishwashers), so long as the employer does not take a “tip credit” (
i.e., paying tipped employees a direct wage below the minimum wage) and, instead, pays such workers a direct wage equal to or greater than the minimum wage. Many commenters have argued that permitting only servers to receive tips, which in many restaurants can be very lucrative, yet prohibiting the kitchen staff, who prepare the food, from receiving tips was unfair.
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The Commission periodically has filed enforcement actions against broker-dealers for failing to file SARs – suspicious activity reports typically centered on a failure to file reports regarding microcap issuers. Those actions are based on Exchange Act Section 17(a) and Rule 17a-8. SARs on the other hand trace to the Bank Secrecy Act and FinCEN.
The question of broker-dealer compliance with SARs and the Commission’s authority under the Exchange Act Section and Rule typically cited by the agency was raised in an action recently decided by the Second Circuit Court of Appeals.
me ask you. why do you think there s this phenomenon where the president gets in his own way and steps on his own message time after time? he can t help himself. whether it s tweeting responses or morning joe or news of the day, he can t help himself. he always does it. whether it s a theme week he gets in the way of or anything else, his ability to dominate a news cycle is what we ve seen for more than two years since he announced running. i think the smart thing to do would be to dial it back a little bit. let some of the visuals that really work for trump when he does these events, the made in america events, i thought they were pretty successful this week. donald trump may be the only politician that may violate don t war the funny hat rule. he did that. stay with them. they can be effective. all these team weeks, they re about jobs. that s his core message. he should stick to it. that s where he pulls the