Daily Archive: August 9, 2016

A consent order of the New York Department of Financial Services does not in itself justify a dismissal

The state labor court of Frankfurt (Landesarbeitsgericht Frankfurt) ruled on 13 July 2016 (docket number: 18 Sa 1498/15) that a dismissal of an employee by a major financial institution at the behest of the New York Department of Financial Services (NYDFS) is invalid. The dismissal has to be justified based on German labour law. The financial institution …

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