On December 14, the Coalition for a Democratic Workplace (CDW), of which Íæż½ã½ã is an active member, filed supporting the Department of Labor’s on financial disclosure reports that unions annually must file with the Department’s Office of Labor-Management Standards. The proposed rule would expand the disclosures that unions must report on Form LM-2 and would require larger unions to file a new Forum LM-2 Long Form.
While the comments suggest a number of revisions to the particulars but encourage adoption of the rule in general. They note that the Department took advantage of a decade of experience and technical advancement since the form was last revised, stating that it “is a significant improvement over the changes made in 2009 and provides important financial transparency and accountability that is critical to union members, the employer community and the general public.â€
The Department has little time to finalize the rulemaking before the change in administration. The Biden administration is likely to halt the initiative.