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- SEBI New Rules; 20% Of Mutual Fund Top Executives Salary Will Be Taken As Unit Of Scheme
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Mumbai13 minutes ago
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- Franklin Templeton’s 6 date scheme was discontinued in April last year
- In this, the top officials of the fund and their relatives had already withdrawn their money.
The new rules of SEBI have upset top executives of mutual funds. It is reported that now mutual fund houses may oppose this. Fund houses are constantly disturbed by the new regulations of SEBI. But this time the problem is too much.
Rules will be applied to top officials
In fact, Sebi recently said that top executives of mutual funds will have to take 20% of their salary as a unit of the scheme. That is, whatever they get in the form of salary, perk, bonus or non-cash, it will be 20%, including all of them. This will be applicable to the top executives of any fund house. That is, it will apply to the CEO, CIO, fund manager, IT head of the fund house or all such heads. It will be implemented from July 1.
Have to tell on the website
SEBI said that mutual fund houses would have to state this on their website. In this, it has to be told about the number of units given in the scheme. This unit will be kept locked for 3 years. That is, you will not be able to sell it. If someone is retiring, then he can sell it. SEBI said that if an officer breaks or frauds, this unit will be confiscated.
Mutual fund house upset
This new order of SEBI has upset the mutual fund houses. Fund houses say that this will lead to operational problems as well, this is also not true. Some officials say that after deducting tax and investment in the salary that is being received, only 50-60% of the salary comes in your hands. If this rule of 20% is implemented, then the salary in hand will be reduced further. It is better that instead of a job in a fund house, you should get a consultant job somewhere.
Must resist the rule
Some fund houses said that now this rule of SEBI should be opposed. Actually fund houses do not oppose the regulator, but this rule has united them to oppose them. In fact, SEBI has taken this decision because some top executives in Franklin Templeton withdrew their investment before the scheme was closed. The scheme was later discontinued. Franklin Templeton’s 6 date scheme was discontinued in April last year. There was a total investment of more than 25 thousand crore rupees in it.
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