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SEBI Extends ESOP Deadline
SEBI has extended the timeline for employee welfare trusts for aligning their schemes with the SEBI ESOP/ESPS guidelines to June 30 next year . The timeline has been extended for the second time. Earlier, it was extended from June 30, 2013 to December 31. In January, SEBI had prohibited employee welfare trusts from purchasing shares of the company from the secondary market.
However, the regulator issued a discussion paper on November 20 to address concerns raised on composition of trusts, disclosures and for enabling secondary market transactions with adequate safeguards . Meanwhile, Gyan Bhushan, the Executive Director of SEBI oversseing investor education and general services has been given additional charge of the surveillance department.
Business Line, New Delhi, 01-12-2013