In this week’s roundup, Securities and Exchange Commissioner Michael Piwowar announces that he will step down, the National Labor Relation Board says it will consider the joint-employer standard again, and China plans to send a top economic official to Washington next week to continue trade talks.
Commissioner Piwowar Will Leave the SEC by July 7
Commissioner Michael S. Piwowar of the Securities and Exchange Commission will step down by July 7, Reuters reports. Piwowar said in a letter sent to President Trump that he would leave prior to the July 7 date if his successor is sworn in.
Piwowar, a Republican, has served since his appointment by President Obama in 2013. During that time, he has opposed various facets of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. If his successor is not appointed before he steps down on July 7, the SEC will have two Republicans and two Democrats as commissioners, creating the potential for some deadlocked votes.
Piwowar has engaged with ACG’s Private Equity Regulatory Task Force members regularly, speaking at several meetings.
NLRB Considering Joint-Employer Standard (Again)
The National Labor Relations Board will consider rulemaking with respect to the joint-employer standard, according to a press release on the board’s website. As MMG has previously reported, the Obama-era definition of the what constitutes a “joint employer” is currently in effect, meaning that companies who exercise only “indirect” and “potential” control over employees can nevertheless be held liable for law violations in which they had no part or knowledge, or be required to engage in collective bargaining. This expanded definition has put middle-market companies, which are the engine of job growth, in a tenuous position.
“Whether one business is the joint employer of another business’s employees is one of the most critical issues in labor law today,” NLRB Chairman John F. Ring said in the press release. “The current uncertainty over the standard to be applied in determining joint-employer status under the Act undermines employers’ willingness to create jobs and expand business opportunities.”
Although the NLRB has indicated that it plans to move forward with a notice of proposed rulemaking as soon as possible, it has not yet identified a target date.
“Whether one business is the joint employer of another business’s employees is one of the most critical issues in labor law today.”
John F. Ring
Chairman, National Labor Relations Board
Trade Talks with China Continue
CNBC reports that China will send its top economic official to Washington next week to continue trade talks in an attempt to avoid tariffs. Last week, the U.S.-led delegation in China held two days of talks but had nothing of substance to report back. Key negotiating points for the United States included a reduction of the U.S.-China trade deficit by at least $200 billion over two years and for China to drop its World Trade Organization case.
Maria Wolvin is ACG Global’s vice president and senior counsel, public policy.
Ben Marsico is ACG Global’s manager of legislative and regulatory affairs.