Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Govt cuts red tape for employee share schemes

Govt cuts red tape for employee share schemes


Commerce Minister Craig Foss has announced an exemption to cut compliance costs for employee share schemes as part of the Financial Markets Conduct Act implementation.

“New exemption rules will open up possibilities for employers to offer share purchase schemes, enabling employees to take an ownership stake in the business they work for. This creates a practical way for businesses, especially start-ups to attract and retain talent,” says Mr Foss.

Current rules can make it costly and burdensome for employers, especially start-ups, to offer their employees a stake in their company.

Under the new purchase exemption employers will need to provide employees with:
• a warning statement about the nature of employee share purchase schemes and the implications of the exemption
• basic information about the scheme, such as its terms and conditions
• access to the employer’s most recent annual report and financial statements.
“Employee share schemes can help employers attract and retain staff. Offering employees a stake in a business can also help with helping to facilitate ownership succession and provides additional equity capital.

“Creating robust financial markets and restoring investor confidence are key pillars of the Government’s Business Growth Agenda,” says Mr Foss.

For more information on the Financial Markets Conduct Act implementation, visitwww.fma.govt.nz/keep-updated/the-future-of-financial-markets

ends.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news