ASIC proposes a fresh approach to the regulation of employee incentive schemes - .PDF file.
The Australian Securities and Investments Commission (ASIC) is proposing to update and broaden its current employee share scheme class-order relief and regulatory guidance in response to developments in market practice and the need for clarity.
ASIC is proposing to expand the classes of financial products that can be the subject of an offer under an employee incentive scheme to include performance rights and similar instruments and to simplify ongoing lodgement requirements, which should be well received by issuers.
The proposals will be introduced via a new class order and updates to ASIC’s Regulatory Guide 49 Employee Share Schemes (RG49), to be issued in the first half of 2014…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.