India's markets regulator proposes consolidated disclosure of executive pay at asset managers
- SEBI says the proposed approach gives investors in the funds of AMCs a broader view of senior management compensation
Indian asset management companies can disclose executive and high-earner pay on a consolidated basis instead of on an individual basis, the country’s markets regulator proposed on Wednesday.
The Securities and Exchange Broad of India proposed that AMCs may disclose consolidated remuneration of executive level employees and the total number of such employees.
SEBI said the proposed approach would give investors in the funds of AMCs a broader view of senior management compensation.
The regulator said the proportion of employees covered under the current framework is limited, ranging from about 2% to 10% of total employee base in 36 of 51 AMCs analysed.
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It said public disclosure of individual remuneration could expose employees to privacy risks and misuse of personal information.
The regulator also proposed allowing investors to seek scheme-level disclosure of the total remuneration paid to fund managers of schemes they are invested in.
SEBI has sought comments from the public by June 30.