US-listed multinationals have struggled in recent years with whether a prospectus is required for the operation of their employee stock plans in Europe, particularly employee stock purchase plans. Preparation of these prospectuses is both time consuming and costly. Recent amendments to the European prospectus rules may make the operation of certain employee stock plans in Europe by US companies cheaper and more straightforward, although it may be some time before the benefit of one of the biggest changes is available to them.
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