INVESTOR CHARTER IN RESPECT OF RAs

A. Vision and Mission Statements for Investors

  • Vision
    Invest with knowledge & safety.
  • Mission
    Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

B. Details of Business Transacted by the Research Analyst with Respect to Investors

  • To publish research report based on the research activities of the RA
  • To provide an independent unbiased view on securities
  • To offer unbiased recommendation, disclosing the financial interests in recommended securities
  • To provide research recommendation, based on analysis of publicly available information and known observations
  • To conduct audit annually
  • To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts
  • To maintain records of interactions, with all clients including prospective clients (prior to onboarding), where any conversation related to the research services has taken place

C. Details of Services Provided to Investors (No Indicative Timelines)

  • Onboarding of Clients:

Sharing of terms and conditions of research services

Completing KYC of fee paying clients

  • Disclosure to Clients:

To disclose, information that is material for the client to make an informed decision (business activity, disciplinary history, terms/conditions, risks/conflicts of interest, associates)

To disclose extent of use of Artificial Intelligence tools in providing research services

To disclose conflicts of interest when distributing third party research reports

To maintain confidentiality and respect data privacy rights of clients

To provide clear guidance and caution for complex/high-risk products/services

To treat all clients with honesty and integrity

To ensure all statutory/regulatory disclosures are communicated

  • To distribute research reports and recommendations to the clients without discrimination
  • To provide timelines for service delivery and ensure adherence
  • To provide satisfactory grievance redressal

D. Details of grievance redressal mechanism and how to access it

  1. 1. Investor can lodge complaint / grievance against Research Analyst in the following ways:

    Mode of filing the complaint with Research Analyst

    In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but not later than Date days of the receipt of the grievance.

    Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)

    i. SCORES 2.0 (a web based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in a time-bound manner): https://scores.sebi.gov.in

    Two level review for complaint / grievance against Research Analyst:

    • First review done by designated body (RAASB)
    • Second review done by SEBI

    ii. Email to designated email ID of RAASB (use the RAASB email address provided by your Research Analyst or RAASB).

  2. 2. Alternate remedy

    If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint / grievance on the SMARTODR platform for its resolution through online conciliation or arbitration.

    With regard to physical complaints, investors may send their complaints to:

Note: Keep copies of all correspondence, acknowledgement receipts and any supporting documents while filing a complaint.

E. Rights of Investors

  • Right to Privacy and Confidentiality
  • Right to Transparent Practices
  • Right to Fair and Equitable Treatment
  • Right to Adequate Information
  • Right to Initial and Continuing Disclosure
  • Right to Fair & True Advertisement
  • Right to Information on Service Turnaround Times
  • Right to be Heard and timely Redressal
  • Right to Exit products/services per terms agreed
  • Right to receive clear guidance for complex/high-risk financial products
  • Additional rights for vulnerable consumers
  • Right to provide feedback on services
  • Right against coercive, unfair clauses in financial agreements

F. Expectations from Investors (Responsibilities)

  • Always deal with SEBI registered Research Analysts
  • Check for valid SEBI registration certificate and number
  • Verify disclosures before investing
  • Make payments only through banking channels, maintain receipts
  • Seek clarifications on complex products/services before acting
  • Do not provide funds for investment to Research Analyst
  • Do not get attracted to incentive, gifts, or limited period discounts
  • Do not share login credentials of trading/demat/bank accounts
  • Report any assured or guaranteed returns offered by Research Analyst to SEBI