The Exemption Question In Financial Services

August 28, 2009Articles Law360

The recent case of Sexton v. Franklin First Financial Ltd. is illustrative of the dangers facing employers in the financial services industry and it highlights the thorny problem of perhaps wholesale misclassification of employees in this industry as exempt from overtime.

In Sexton, a federal judge has granted conditional certification to a Fair Labor Standards Act collective action alleging Franklin First Financial Ltd. failed to pay overtime to a class of...

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