Wall Street Wins Bid to Keep Non-Compete Clauses in New York (1)

Gov. Kathy Hochul (D) vetoed legislation that would have banned employee non-competes in New York, after facing intense pressure from Wall Street, hospitals, and business groups that opposed the measure, according to sources familiar with the matter.

The legislation (S3100) rejected by Hochul Friday would have barred employers from imposing contract language that prohibits employees or other “covered individuals” from obtaining employment after leaving their current jobs.

“After weeks of negotiations where we compromised heavily to try to pass a law that would at least ban non-competes for low- and mid-wage workers, I’m incredibly disappointed that our final ...