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Tapestry Compliance LLP is a law firm specialising in all aspects of global compliance for share plans, as well as broader employment law and HR issues. We invited Founding Partner Janet Cooper to provide us with an insight into the firm and its pioneering approach to legal services.
Tapestry Compliance is a specialist firm advising on all aspects of global HR compliance, with a focus on legal and tax due diligence for international incentive plans. We understand the need for a sensible, costeffective approach towards compliance and the need to make local regulations work in the framework of a global remuneration policy.
Founded by two leading professionals in this field, we have the largest team of lawyers of any UK law firm with many of our lawyers having trained in City firms. We have advised many multinational companies on their global plans in virtually every country in the world. Tapestry is not tied to particular global law firms, as many of our competitors are, and therefore we have the flexibility to choose the best firm with the real expertise to suit our clients’ needs.
The support we provide at Tapestry is more extensive than the traditional big law firms. We advise on the broader governance and administration considerations. We will look at features and provisions in the plan, to identify and suggest how the plan can be developed to help achieve company goals. When we work on all-employee plans, we advise on diversity considerations in plan design, communication and broader design features.
Tapestry also offers an online global database which covers 150 countries. The database helps our clients keep up to date with changes in legal and tax requirements for their share and incentive plans globally. The database can provide cost effective legal and tax information customized by plan type and country.
Alongside our work advising many of the world’s leading global companies on their global executive and employee share plans, Tapestry, also provides the UK’s only professionally recognised qualification, the ICSA Certificate in Employee Share Plans.
As a firm, our ethos is to provide City quality expertise and service to world-leading companies. To achieve this we seek to attract the best lawyers and retain them by providing a relaxed and enjoyable working environment.
Tapestry offers flexible working and a commitment to sensible hours, which enables us to attract talented individuals who prefer a healthy approach to employment; wanting to work on complex and challenging multi-jurisdictional matters, without working excessive hours.
Currently we have a strong network of over 150 global law firms who are specialists in our area and charge local rates, providing a better service and better value to clients. Ultimately our team is our USP. We have attracted some of the best lawyers from major firms such as Slaughter and May, DLA Piper, Linklaters.
Our lawyers are specialised and expert in what they do. We also have experienced share plan managers and reward experts in the team, providing practical insightful solutions. We have hand-picked our global partner firms for their expertise in this area.
One of Tapestry’s long-term clients is BT. We advise BT on the operation of its global share plans, both executive and all employee plans, by carrying out global due diligence trawls in respect of the executive and all-employee plans in over 35 jurisdictions. We also project manage the international filings that need to be carried out in these jurisdictions. In addition, we have assisted BT in reviewing its contractual documentation and employee communications whilst also giving advice on ad-hoc operational and compliance queries during the year.
Recently, the firm has been assisting BT with the review of BT’s employee incentive plans that are offered to US tax payers and BT’s employee benefit trust, to ensure that these are compliant with developing US tax requirements. BT subscribe to our online global database.
Another major client we work with is HSBC, who we advised on their incentive arrangements and global compliance matters affecting awards under their plans. We provided global due diligence for both their executive and all employee plan in 30 jurisdictions and project-managed necessary international securities filings and advised on the recent legislative changes regarding tax-qualified free shares in France for their executive plan. Alongside this we also reviewed and produced employee guides to the nominee arrangements used by plan participants, reviewed and updated plan communications and advised on their application of the UK Model Code and internal dealing code for awards under all incentive arrangements.
The high profile nature of these clients and the range of services we provided for them highlights our versatility and overall success in our field. Moving forward our main focus is, as it always has been, to continue to provide a high quality service whilst continuing to attract many world-leading clients.
Tapestry Compliance LLP
Name: Janet Cooper
Address: 88 Wood Street, London
Phone: 44 (0)7889-999051