SEBI on Friday deferred the implementation of new compensation norms in which it has asked fund houses to pay 20% of the total net salary in MF units to key mutual fund employees by another three months to October 1, 2021. The new rules was supposed to come into effect from July 1, 2021.
The regulator said the decision to extend the date has come after it received feedback from stakeholders.
On April 28, SEBI issued circular asking AMCs to pay a minimum of 20% of the total net salary, including perks, bonus and non-cash compensation, in the form of mutual fund units. SEBI said that move is aimed at aligning the interests of key employees with that of the unitholders.
