Why in news SEBI has relaxed rules about how much fund managers and chief investment officers (CIOs) of asset management companies (AMCs) ...
Why in news
SEBI has relaxed rules about how much fund managers and chief investment officers (CIOs) of asset management companies (AMCs) must invest in their own funds.
Previously, they had to invest 20% of their annual pay, no exceptions.
Now, there are two ways to calculate this percentage: based on total salary or job title.
Employees earning less than ₹25 lakh per year are now exempt from this rule.
If the rules are broken, the asset management companies (AMCs)'s compensation committee must investigate and report to SEBI.
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