As the next Compensation Manager with this organization, you will be relied upon to ensure that the organization is compliant with all Fair Labor Standards Act laws as they apply to employee wages. In asking this question, your interviewer is looking to hear that you have innate knowledge on the FLSA laws and how they apply to the organization that you work for. If you were impacted by more recent changes in the law, be sure to talk about those changes and what you had to do ensure your organization was compliant. If you weren't directly impacted, simply let your interviewer know that you are aware of the changes. To really seal the deal with your answer to this question, try to talk about how these changes may have impacted the organization that you are interviewing with.