Brendolyn Marie

Karl Heideck explain the new salary law in Philadelphia

Karl Heideck, an attorney from Philadelphia, Pennsylvania, has written extensively on the effects of the salary law passed prohibiting employers from accessing the salaries history of their employees. It is his writings that will guide us in this article. He has provided insight on some of the challenges that are already being felt after passing the bill. The legislation came to effect in January 2017. This legislation made Philadelphia the first municipality in the United States to bar employers from accessing information about the potential employees’ salaries history.

At its initial stages, the law was aggressively opposed by many employers who viewed it as an illegitimate measure meant to limit the information that an employer should have before hiring a new employee. On the contrary, supporters of the legislation, most of them workers’ rights advocates, argued that it was necessary to have the legislation passed since they would create transparency in the process of hiring new workers. According to them, the move would benefit mostly the marginalized groups.

According to the document by Karl Heideck, the legislation had other advantages. It was meant to close the gap that existed between males and females wages. According to him, men have always been paid better than women for the same position. Women often receive a lower pay whenever they are bidding for pay in a new working position. For men, history has it that they start with higher salaries when they join new institutions. It is more likely for a man to get a higher starting salary than a woman.

The legislators in the Philadelphia municipality were taking action against this culture by ensuring that no one would know what a potential employee earned earlier. This would remove the discrimination that existed between potential men and women employees. In the history of many organizations, the revelation of ones previous salaries was a must, otherwise, failure to reveal would make it very difficult for one to be employed.

Karl Heideck is a graduate of James E. Beasley School of Law at Temple University. Karl has been part of major legal developments happening in Philadelphia. He runs a blog through which he informs and educates people on various changes that happen especially in business law that would need the people to comply. Karl Heideck is a prominent lawyer in Phil and is regularly hired by business organizations to represent them in cases of business litigation.

Karl Heideck has studied in other institutions such as the Swarthmore College.

Whistleblowers Keep the Financial Industry Honest

Wall Street and the financial industry seem to operate in a quiet, secluded manner. No one should be shocked at this fact. Private businesses are exactly that – they are private. The internal workings of a hedge fund, a brokerage house, precious metals company, and other financial entities are not supposed to be revealing privileged information. The cloistered nature of the financial industry does create some problems. Mainly, illegal activity may occur far outside of the public eye and the under the radar of law enforcement.

In order to learn about illegal endeavors, the Securities Exchange Commission (SEC) relies on the work of whistleblowers. In the not too distant pass, many people were very worried about coming forward with information. No one wants to see their lives and careers destroyed in a risky move. The SEC and the powers-that-be in the government realize no one wants to take a disastrous risk.

People can turn to a SEC whistleblower attorney for help, but concerns do arise about whether or not the law backs whistleblowers. Legislatures took action to address these concerns in 2010 with the Dodd-Frank Wall Street Reform and Consumer Protection Act. The legislation made it easier for people to come forward and work with an attorney to blow the whistle on wrongdoings. Protections were put in place to assuage concerns about retaliation.

Additionally, the law put forth financial incentives for coming forward with news about illegal acts. Sanctions against those who violate financial laws could entail levying significant fines against the wrongdoers. These fines could be in the millions of dollars. A certain percentage of the amount recovered might be paid to a whistleblower. The recovery would be 10% to 30% of amounts that exceed $1,000,000. Such a massive amount of money absolutely serves as an incentive to report illicit activities.

In addition to being financially rewarded, whistleblowers can feel a sense of having done something good. Those who work in the financial industry are supposed to follow the same rules as those outside of the industry. The hidden nature of the financial world sometimes provides refuge for those who do not want to play by the rules. Whistleblower laws are intended to cast a light on what they are doing.

Certain circumstances and criteria do apply, which is why it is wise to retain the services of a SEC whistleblower attorney.