Merrill Lynch is still having discrimination problems, and this time the EEOC filed a complaint on behalf of an employee who claims discrimination based on national origin. According to Registered Rep, the suit claims that he was told “The reason you are not allowed on the trading floor is because you are from a country which has a high risk factor and a threat.” The employee is from Iran.
In an interesting twist, Merrill denies the charges and says he was not allowed on the trading floor because he was a senior programmer, not a trader or analyst.
Under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act (ADA), and the Age Discrimination in Employment Act (ADEA), it is illegal to discriminate in any aspect of employment, including: hiring and firing; compensation, assignment, or classification of employees; transfer, promotion, layoff, or recall; job advertisements; recruitment; testing; use of company facilities; training and apprenticeship programs; fringe benefits; pay, retirement plans, and disability leave; or other terms and conditions of employment.
Discriminatory practices under these laws also include: harassment on the basis of race, color, religion, sex, national origin, disability, or age; retaliation against an individual for filing a charge of discrimination, participating in an investigation, or opposing discriminatory practices; employment decisions based on stereotypes or assumptions about the abilities, traits, or performance of individuals of a certain sex, race, age, religion, or ethnic group, or individuals with disabilities; and denying employment opportunities to a person because of marriage to, or association with, an individual of a particular race, religion, national origin, or an individual with a disability.
The EEOC is the agency responsible for enforcement of these laws, and employees are generally required to file a complaint with the EEOC before filing a private lawsuit. In rare occasions where the EEOC feels it is necessary, the EEOC will bring the complaint itself. Brokerage firm employees have additional options.
