Compliance Bulletin

Two San Francisco Ordinances Affect Some Banks
May 26, 2015

Two new San Francisco ordinances come into effect this July 3 affecting businesses that the city of San Francisco refers to as “formula retail establishments.” The definition includes financial services providers that have 20 or more establishments worldwide and at least 20 employees in San Francisco. The first ordinance requires employers, before hiring new staff, to offer similar work first to existing part time employees. If there is a merger or acquisition, certain employees have to be retained for 90 days or, if the positions are not needed, then terminations must be in accordance with seniority or a collective bargaining agreement if applicable. Please see CBA’s Regulatory Compliance Bulletin for more information.

The second ordinance requires employers to give employees advance notice of work schedules and any changes, and imposes penalties in the form of additional compensation to employees if certain time limits are not met. It also mandates equal treatment of part time workers compared with full time workers in terms of starting pay, time off, and eligibility for promotion. Please see CBA’s Regulatory Compliance Bulletin for more information.