Alignment of interest of Key Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes
Summary
This circular extends the implementation date for aligning Key Employees' interests with Unitholders from July 1, 2021, to October 1, 2021. The extension was decided based on feedback received from stakeholders regarding the previous circular dated April 28, 2021. The directive is issued under Section 11(1) of the SEBI Act and Regulation 77 of the SEBI (Mutual Funds) Regulations, 1996.
Text
based on the feedback received from stakeholders, it has been decided to extend the date of implementation of the circular to October 01, 2021.
This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with the provision of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — Alignment of interest of Key Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.