Legal Guidance and Research / Experts / Alex Paterson
Alex Paterson#5142
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Alex Paterson

Squire Patton Boggs
Alex is currently an associate in the Tax, Strategy and Benefits department at Squire Patton Boggs with experience advising corporate clients on the various tax-related issues arising on corporate transactions, including the implications of corporation tax, SDLT, stamp duty and VAT on M&A and PE deals. Alex also has expertise on the implementation and maintenance of various employee benefit schemes, in particular EMI schemes, and advising on the tax implications on the grant and exercise of employee related securities on private equity investments, company sales or otherwise.

Practice Area

Panel

  • Contributing Author

Education

  • University of Nottingham
  • Law with South East Asian Law LLB
  • University of Singapore

1 Contributions by Alex Paterson

Share-based incentives for non-executive directors under FSMA 2000: General Prohibition, Financial Promotion Restriction and key exemptions
PRACTICE NOTES
Share-based incentives for non-executive directors under FSMA 2000: General Prohibition, Financial Promotion Restriction and key exemptions
It is routine for employees, particularly executive directors, to receive awards over shares. A series of exemptions permits these grants to be made without infringing the Financial Services and Markets Act 2000 (FSMA 2000). By contrast, providing share awards to people who are not employees, such as non-executive directors, is more complex because several of those carve-outs do not apply... This Practice Note highlights the FSMA 2000 considerations when granting share awards or options to non-employees and maps out potential ways through each. As the most suitable route turns on the facts of the case, it is for the practitioner to determine whether, in their situation, the proposal might fall outside the scope of the relevant prohibition. For guidance on other, non-FSMA 2000 matters arising when granting such awards to non-executive directors, see Practice Note: Shares for non-executive directors—issues and considerations... FSMA 2000 contains two key provisions which are relevant for incentive plans. These are: (1) the prohibition on any person carrying out a regulated activity other than an authorised or exempt person (the ‘General Prohibition’)... (2) the restriction on communicating an invitation or inducement, in...
Share Incentives
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