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Informist, Wednesday, Jun. 10, 2026

--SEBI floats consultation paper on salary disclosure of AMC executives 

--SEBI moots allowing AMCs to disclose consol remuneration of top staff 

--SEBI moots removing provision for AMCs to disclose individual level salary 

--SEBI moots disclosing fund managers' salary on MF unitholders request 

MUMBAI – The Securities and Exchange Board of India has proposed to allow asset management companies to disclose the remuneration of top executives on a consolidated basis and remove the individual-level disclosure requirement. The regulator is also looking to allow mutual fund unitholders to request the disclosure of fund managers' salaries, according to a consulation paper by SEBI Wednesday.

Currently, mutual fund houses are required to disclose individual-level remuneration of all employees with annual salary above INR 10.20 million, the top 10 employees in terms of salaries, and key employees such as chief executive officer and chief investment officer. SEBI has proposed to allow mutual fund houses to add the salaries of all key employees and disclose it as a consolidated number. The public can submit their comments or suggestions on the consultation paper by Jun. 30.

SEBI found merit in disclosing fund managers' salaries seperately as they make key decisions for a mutual fund scheme. The regulator proposed to allow unitholders of a scheme to request information on fund managers' salaries and this information wil be provided on a consolidated basis for all the fund managers of a particular scheme, the consultation paper said. "(It) may be limited to the scheme(s) in which the investor requesting such details has invested as on the date of making such request," SEBI said.

The regulator floated the latest proposal after the mutual fund industry shared its concerns around the current disclosure norms to SEBI. Representatives of the mutual fund industry said some of the disclosure norms meant for listed companies should not be applicable to mutual funds as the unitholders do not have ownership rights of a mutual fund house.

Further, the industry representatives raised risks of privacy and possiblity of misuse of personal information of employees. They also argued that other companies in a similar business such as portfolio management services and alternative investment funds do not have individual-level disclosure norms and it puts the mutual fund industry at a disadvantage.  End

Reported by Anshul Choudhary

Edited by Avishek Dutta

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