New Zealand to Reduce Compliance Costs for Employee Ownership

Craig Foss, the Commerce Minister of New Zealand, announced in March that the government would simplify employee disclosure requirements for companies offering employee ownership plans. Foss noted, "New exemption rules will open up possibilities for employers to offer share purchase schemes, enabling employees to take an ownership stake in the business they work for. This creates a practical way for businesses, especially start-ups, to attract and retain talent."