SEBI aligns key employees’ pay with interests of mutual fund unit holders
April 28, 2021
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Regulator directs MFs to pay 20 per cent of overall compensation through units of schemes in which they have an oversight role
In an interesting twist, the Securities and Exchange Board of India (SEBI) has directed mutual funds to pay 20 per cent of the overall compensation paid to key employees through units of mutual fund schemes in which they have an oversight role.
However, Exchange Traded Funds, Index Funds, Overnight Funds and existing close-ended schemes shall be excluded from the new regulations.
Units allotted to the key employees can be claw-backed in the event of a violation of Code of Conduct, fraud, and gross negligence by key employees. Upon clawback, the units shall be redeemed and amount shall be credited to the scheme, said SEBI. Every scheme has to disclose the compensation, in aggregate, paid in the form of units to the Key Employees, it added.
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Part of compensation of key mutual fund employees to be in MF units: SEBI
The compensation paid in the form of units needs to be proportionate to the AUM of the schemes in which the key employee has a role or oversight.
BusinessToday.In | April 28, 2021 | Updated 21:12 IST
SEBI said it has taken the decision with a view to align the interest of key employees of AMCs with the unitholders of the mutual fund scheme.
Markets regulator Securities and Exchange Board of India (SEBI) on Wednesday said a part of compensation of key employees of asset management companies (AMCs) should be paid in the form of units of scheme in which they have a role.
27 April 2021 -
London, UK - Crossword Cybersecurity Plc (AIM:CCS, Crossword , the Company or the Group ), the technology commercialisation company focused on cyber security and risk management, is pleased to announce its final results for the year ended
31 December 2020. The Notice of its Annual General meeting ( AGM ) and a Form of Proxy will be posted to Shareholders shortly.
A copy of the Annual Report and Accounts and the notice of AGM are available on the Company s website at www.crosswordcybersecurity.com.
AGM and Investor Meeting
25 May 2021 at
Capital Tower,
London SE1 8RT,
United Kingdom. The health and safety of our Shareholders and colleagues is always our utmost priority. Due to the