The Financial Markets Conduct (Employee Share Purchase Scheme Shares Offered under Securities Act 1978) Exemption Notice 2021

Summary: The Financial Markets Conduct (Employee Share Purchase Scheme Shares Offered under Securities Act 1978) Exemption Notice 2021 replaces the Financial Markets Conduct (Employee Share Purchase Scheme Shares Offered under Securities Act 1978) Exemption Notice 2016 that expires on 30 November 2021.

The exemption continues for a further five years, relief for issuers from subpart 4 of part 3 (ongoing disclosure and updating register) and Part 4 (Governance) of the Act in respect of any financial products if the offer of the financial products was made in reliance on the Securities Act notice.  Issuers are also exempted from part 7 (financial reporting and audit).