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

No Charges: Outcome
Of Operation Clover Investigation

Police have completed a multi-agency investigation, Operation Clover, into the activities of a group calling themselves “The Roast Busters”. The 12 month enquiry focused on incidents involving allegations of sexual offending against a number of girls in the Waitemata Police district and wider Auckland area.

Following a lengthy and complex investigation, charges are not being laid by Police at this time regarding 8 incidents involving 7 victims and 5 suspects. More>>

 

Parliament Today:

UNICEF Report: NZ Cautioned On "Stagnating" Child Poverty

An international report by UNICEF has found that child poverty rates in New Zealand have barely changed since 2008, despite similar sized countries significantly reducing child poverty during the recent recession. More>>

ALSO:

Funding Report: Two Pathways For Transport In Auckland

Commissioned by Auckland Council, the group was asked to investigate two possible pathways for raising $300 million per year ($12 billion over 30 years) to pay for the improvements needed to help fix Auckland’s transport system. More>>

ALSO:

Pay Equity: Equal Pay Win In Court Of Appeal

CTU: The Court of Appeal has made a historic decision paving the way for a substantial equal pay claim for aged care workers. More>>

ALSO:

Gordon Campbell: On The TPP Finishing Line, And Amazon’s Woes

If the Trans Pacific Partnership trade deal wasn’t such a serious matter, this would be pretty funny… More>>

ALSO:

TV3 Video: Three Die On Roads Over Labour Weekend

The official holiday period ended at 6am Tuesday, with three deaths on the roads during the Labour Day weekend. More>>

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news