Global Hot Spots – New Issues and Trends

By Robyn Shutak posted 03-15-2016 13:01


The past 12 months has been a busy time for compliance for stock plans operating on a global basis. Join Bob Grayson and Jordan Levy from Tapestry Compliance LLP, and Erin Miner, Director and head of the Executive Compensation practice at Credit Suisse (NY office) at GEO's 17th Annual Conference next month for a look at the global hot spots for stock plans and discuss various key changes around the world.

Tapestry help our clients with their global incentive plans every day. Not only will we look at developments in specific countries, we will also share some of the experiences we have had, including where problems have arisen and how these have been overcome.

Erin from Credit Suisse will also be providing a practical perspective on the issues that we discuss, giving you a valuable insight into exactly how these changes may affect your business. Founded in 1856 and with headquarters in Zurich, Switzerland, Credit Suisse is a leading financial services company which operates a global compensation plan in over 50 countries.

Implementing and maintaining global employee stock plans can be a challenge - triggering many different legal and tax issues and these laws inevitably change over time.  The consequences of non-compliance can be significant – securities law and exchange control violations, criminal offences, increased tax liability, non-enforceable contracts, reputational damage, and expensive and costly litigation. This is why keeping a handle on global legal and tax compliance is increasingly important in 2016.

These are some of the topics we will cover in this session;

Tax is an ever changing area. In numerous countries, we have seen higher rates for higher earners and more measures to capture capital gains. In France, the Macron law has improved the tax treatment of qualified awards and has led to increased interest in this area. We will share our practical experience of what issues companies are facing when setting up qualified awards. We will also look at where in the world withholding and reporting obligations are changing; for example a new filing requirement in Luxembourg.

Legal and Regulatory – We will look at recent changes to securities laws; exchange controls and other regulatory issues. For example many countries continue to tighten up their rules on Data protection. In particular, Russia has introduced stringent new regulations that seek to keep all data within Russia. In the EU, there has been a dramatic ruling on the Safe Harbour agreement covering data transfers between the EU and the US – we will give you the latest update on this so you know what you should be doing.

Financial Services regulation is an ever changing area especially in the EU. Are you aware of the latest developments and do you know what’s coming down the pipeline? For non-FS issuers, we will consider the extent to which FS regulations may influence and spill over into general corporate governance requirements. We will also provide an update on clawback (including from the UK perspective) and the extent to which it has been tested in the courts.

We will look at Country Specific developments; for example new case law in Indonesia has had a big impact on the use of translations and there are new rules on restrictive covenants in both Denmark and Norway.

During this session, Tapestry will also describe some of the most common challenges our clients face and what we think all companies, regardless of size, should be doing to ensure their plans are compliant globally.

Register for the conference here!