SEBI Proposes Consolidated Executive Pay Disclosure for India's Asset Management Firms

Indian asset management companies can disclose executive and high-earner pay on a consolidated basis instead of on an individual basis, the country's markets regulator proposed on Wednesday.

* The Securities and Exchange Broad of India proposed that AMCs may disclose consolidated remuneration of executive level employees and the total number of such employees.

* SEBI said the proposed approach would give investors in the funds of AMCs a broader view of senior management compensation.

* The regulator said the proportion of employees covered under the current framework is limited, ranging from about 2% to 10% of total employee base in 36 of 51 AMCs analysed.

* It said public disclosure of individual remuneration could expose employees to privacy risks and misuse of personal information.

* The regulator also proposed allowing investors to seek scheme-level disclosure of the total remuneration paid to fund managers of schemes they are invested in.

* SEBI has sought comments from the public by June 30. 

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