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of <h1>SEBI Requires 20% of AMC Key Employees' Pay in Mutual Fund Units, Locked for Three Years, Effective July 2021.</h1> The Securities and Exchange Board of India (SEBI) mandates that a minimum of 20% of the compensation for key employees at Asset Management Companies (AMCs) be paid in mutual fund units they oversee. This aims to align their interests with unitholders. The units are locked for three years and subject to clawback in cases of misconduct. Key employees include top executives and fund managers but exclude those overseeing certain funds like ETFs. Compliance is monitored by trustees, with non-compliance reported quarterly. The circular becomes effective on July 1, 2021, under SEBI's regulatory authority.
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