Clarifications with respect to Circular dated April 28, 2021 on ‘Alignment of interest of Key Employees (‘Designated Employees’) of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes’

Clarifications with respect to Circular dated April 28, 2021 on ‘Alignment of interest of Key Employees (‘Designated Employees’) of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes’ https://www.taxtmi.com/circulars?id=65070 Designated Employees of AMCs must have part of compensation mandatorily invested in scheme units, with junior employees subject to phased implementation until a specified age, purchases made on salary day and apportionment using previous month closing AUM, CTC and perquisite treatment defined, a three year lock in and prescribed redemption/approval procedures for liquid and open ended schemes, exceptions for fund structures, and a SEBI determined clawback for gross misconduct, together with required audit trails and monthly aggregate disclosures. en-us Mon, 20 Sep 2021 00:00:00 +0530 Mon, 20 Sep 2021 15:40:00 +0530 TaxTMI RSS Generator Clarifications with respect to Circular dated April 28, 2021 on ‘Alignment of interest of Key Employees (‘Designated Employees’) of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes’ https://www.taxtmi.com/circulars?id=65070 Designated Employees of AMCs must have part of compensation mandatorily invested in scheme units, with junior employees subject to phased implementation until a specified age, purchases made on salary day and apportionment using previous month closing AUM, CTC and perquisite treatment defined, a three year lock in and prescribed redemption/approval procedures for liquid and open ended schemes, exceptions for fund structures, and a SEBI determined clawback for gross misconduct, together with required audit trails and monthly aggregate disclosures. Circulars SEBI Mon, 20 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65070