Although many dealers are subject to state laws that ban non-competes for certain employees, dealerships nationwide should continue to prepare as if the FTC’s Ban on Non-competes will go into effect on September 4.
Legal & Legislative
Reminder: Corporate Compliance with the Corporate Transparency Act
Dealers may find that they are exempt from this law, but exemption status can change and so dealers should be ready to comply.
FTC Moves the Goalpost Again on Implementation of Forthcoming CARS Rule
When the Rule first was promulgated, the effective date was July 30, 2024. However, the FTC has since stayed that effective date after the National Auto Dealers Association and the Texas Auto Dealers Association filed a Petition for Review of the Review and a Motion to Stay the Rule.
The Safeguards Rule Updated Again
The FTC amended the Safeguards Rule that affects dealerships. This amendment goes into effect on May 13, 2024.
FTC’s Ban on Noncompetes
The Federal government was very busy in the last month issuing a flurry of laws that affect dealerships and dealership personnel.