A substantial amount of litigation is being brought against companies, both public and private, because of “glass-ceilings” allegedly found within firms. More recently, the financial services industry has been a target of glass ceiling allegations and a number of other discriminatory employer practices against legally protected groups. Nationally, the U.S. Equal Employment Opportunity Commission (“EEOC”) has implemented a Strategic Enforcement Plan through 2016 to reduce and deter discriminatory practices in the workplace. The plan specifically identifies the smashing of glass ceilings in the financial industry which will provide a highly public example to financial firms and other industries of a zero tolerance policy. This article addresses the exposure to litigation risk and what precautionary steps should be taken.
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