ASIC Proposes A Fresh Approach To The Regulation Of Employee Incentive Schemes

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WHAT YOU NEED TO KNOW -

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 on-going 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...

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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