The fine amounts range between Rs 1.5 crore and Rs 2 crore.
Mysuru: The Securities and Exchange Board of India (SEBI) fined Franklin Templeton’s personnel 16-75 percent of their annual salaries. According to reports, SEBI levied a penalty of Rs 15 crore against eight employees of the Franklin Templeton company and its trustee company.
The fine was levied for lapses in handling debt schemes which was eventually corrected. Reports also state that Sanjay Sapre, the Chief Executive Officer and Santosh Kamath, the Chief Investment Officer were fined Rs 3 crore each. The remaining five debt fund managers were fined Rs 1.5 crore each.
Along with the aforementioned people, SEBI also fined the trustee company of Franklin Templeton and its compliance officer.
Franklin Templeton is an American Multinational Holding Company that provides different types of funds including mutual funds.
