SEBI has eased the disclosure norm for AMCs on the salary of executives. The market regulator has asked fund houses to disclose the remuneration of CEOs, CIOs, operating officers, sales head and other officials earning over Rs1.02 crore per annum and above. Last year, this limit was Rs60 lakh and above.
SEBI has asked fund houses to disclose the remuneration of top 10 employees on their website under a separate head: ‘remuneration’.
In a circular issued today, SEBI said, “With the underlying objective to promote transparency in remuneration policies so that executive remuneration is aligned with the interest of investors, MFs/AMCs shall make such disclosures.”
The market regulator also directed AMCs to segregate the disclosure of their average assets under management based on equity and debt. In addition, fund houses will have to disclose the rate of growth over the last three years.
SEBI has instructed fund houses to disclose the salary of executives earning Rs1.02 crore and above by April 30, 2017.