{"id":1556,"date":"2021-09-22T09:43:38","date_gmt":"2021-09-22T09:43:38","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=1556"},"modified":"2021-09-22T09:43:38","modified_gmt":"2021-09-22T09:43:38","slug":"clarifications-with-respect-to-circular-dated-april-28-2021-on-alignment-of-interest-of-key-employees-designated-employees-of-asset-management","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/clarifications-with-respect-to-circular-dated-april-28-2021-on-alignment-of-interest-of-key-employees-designated-employees-of-asset-management\/","title":{"rendered":"Clarifications with respect to Circular dated April 28, 2021 on \u2018Alignment of interest of Key Employees (\u2018Designated Employees\u2019) of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes"},"content":{"rendered":"

September 20<\/span>, 2021<\/span><\/span><\/p>\n

All Mutual Funds (<\/span>\u2018<\/span>MFs<\/span>\u2019)<\/span> <\/span>
A<\/span>ll <\/span>Asset Management Companies (<\/span>\u2018<\/span>AMCs<\/span>\u2019)<\/span> <\/span>
A<\/span>ll <\/span>Trustee Companies\/ Bo<\/span>ard of Trustees of Mutual Funds<\/span> <\/span>
Association of Mutual Funds in India (<\/span>\u2018<\/span>AMFI<\/span>\u2019<\/span>)<\/span><\/span><\/p>\n

Sir\/Madam,<\/span> <\/span><\/p>\n

1.<\/span> SEBI<\/span>,<\/span> vide Circular <\/span>no. SEBI\/HO\/IMD\/IMD<\/span>–<\/span>I\/DOF5\/P\/CIR\/2021\/553 dated April 28, <\/span>2021<\/span>,<\/span> has provided that a part of the compensation of Key Employees of the AMCs <\/span>shall be paid in the form of units of the sche<\/span>me(s) in which they have a role or <\/span>oversight.<\/span><\/span><\/p>\n

2. Based on the representati<\/span>ons received from the Mutual Fund Industry and <\/span>recommendation<\/span>s<\/span> of Mutual Funds Advisory Committee (<\/span>\u2018<\/span>MFAC<\/span>\u2019<\/span>), it has been <\/span>decided to provide clarity on certain provisions and on the applicability of the <\/span>aforementioned circular. The said clarifications are <\/span> given in Annexure to this <\/span>circular.<\/span><\/span><\/p>\n

3. All <\/span>other <\/span>provisions <\/span>mentioned <\/span>in <\/span>the <\/span>circular <\/span>SEBI\/HO\/IMD\/IMD<\/span>– <\/span>I\/DOF5\/P\/CIR\/2021\/553 dated April 28, 2021 and circular SEBI\/HO\/IMD\/IMD<\/span>–<\/span>I\/DOF5\/P\/CIR\/2021\/582 dated June 25, 2021 shall remain unchanged.<\/span> <\/span><\/p>\n

4. This circular is <\/span>issued in exercise of powers conferred under Section 11 (1) of the <\/span>Securities and Exchange Board of India Act, 1992, read with the provisions of <\/span>Regulation 77 of SEBI (Mutual Funds) Regulations, 1996, to protect the interests <\/span>of investors in securities and<\/span> to promote the development of, and to regulate the <\/span>securities market.<\/span> <\/span><\/p>\n

Yours faithfully,<\/span> <\/span>
<\/span>
R. Anand<\/span> <\/span>
Deputy General Manager<\/span> <\/span>
Investment Management Department<\/span> <\/span><\/p>\n

To Read More….<\/strong>
\nclick the link below….<\/strong><\/p>\n

https:\/\/www.dropbox.com\/s\/reod2070hyzjv34\/Alignment%20%20of%20%20interest%20%20of%20%20Key%20%20Employees%20%20%28%E2%80%98Designated%20%20Employees%E2%80%99%29.pdf?dl=0<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

September 20, 2021 All Mutual Funds (\u2018MFs\u2019) All Asset Management Companies (\u2018AMCs\u2019) All Trustee Companies\/ Board of Trustees of Mutual Funds Association of Mutual Funds in India (\u2018AMFI\u2019) Sir\/Madam, 1. SEBI, vide Circular no. SEBI\/HO\/IMD\/IMD–I\/DOF5\/P\/CIR\/2021\/553 dated April 28, 2021, has provided that a part of the compensation of Key Employees of the AMCs shall be […]<\/p>\n","protected":false},"author":2,"featured_media":1518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,85],"tags":[88],"class_list":["post-1556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-circulars","category-sebi","tag-sebi"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=1556"}],"version-history":[{"count":1,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1556\/revisions"}],"predecessor-version":[{"id":1557,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/1556\/revisions\/1557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/1518"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=1556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=1556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=1556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}