The Incentive Committee’s proposal has been submitted for consultation

The Incentive Committee’s proposal has been submitted for consultation. However, the parties involved in the consultation procedure are not to provide an opinion on the proposed change in the securities rule.

The Committee proposes that special rules be introduced as regards so-called qualified employee stock options. The Committee also proposes that the so-called securities rule be changed. This part of the proposal implies application of a more restrictive approach than is the case in current practice. However, the consultation report states that the consultation procedure parties are to take no consideration of the Committee’s proposal for a revised securities rule. According to the Ministry of Finance, this aspect of the proposal cannot comprise the basis of legislation.

The consultation procedure period ends on 15 August 2016.

Comments

The Committee’s proposal for a revised securities rule has been criticised. That the Ministry of Finance has decided to exclude this portion of the proposal from the consultation procedure should be seen as a clear signal that, in any case, there will be no change in the securities rule for the time being.