This Practice Note considers the overall purpose of the Financial Services and Markets Act 2000 (FSMA 2000) and then looks in more detail at how it is relevant to the operation of an employee incentive arrangement in the UK. In doing so, it looks at both the ‘general prohibition’ and the ‘financial promotion restriction’. The Practice Note examines an important exclusion and exemption that can be available where an employee incentive arrangement is being operated and some practical implications, including in relation to phantom options, contracts for differences and collective investment schemes. Written in partnership with Ian Fraser of Simmons & Simmons.
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