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CESR published a letter from Commissioner Charlie McCreevy to CESR’s Chairs requesting CESR’s assistance on the issue of employee share schemes. The Commission is requesting regulators to adopt a common light-touch approach under the Prospectus Directive and Regulation for offers to employees.
CESR intends to analyse the possibility to agree a short-form disclosure regime for offers to employees in those cases where a prospectus is required.
CESR does not envisage undertaking a formal consultation process. However, the deadline for comments is