SEBI seeks to tweak AMC pay disclosure rules, invites comments
SEBI, the market regulator, is looking to tweak the rules on how much asset management companies (AMCs) have to share about their top executives' pay.
The goal? Make things clearer for investors without making it a headache for AMCs.
They're also inviting public feedback on these proposed changes.
AMFI seeks broader AMC pay disclosures
Right now, AMCs only have to reveal details of key senior executives such as the CEO, CIO and COO (or equivalents), the top 10 employees by remuneration, and employees earning more than ₹8.5 lakh per month, including those employed for part of the year, and those making over ₹1.02 crore a year, but that's just 2% to 10% of staff at most firms.
The industry group AMFI thinks disclosures for key employees along with their numbers should be shared, and scheme-level fund manager remuneration details should be given for schemes in which investors have invested.
SEBI is weighing these suggestions as it tries to boost transparency across all 53 mutual fund companies in India, including seven listed ones.