Investor Charter

in respect of Research Analyst (RA)

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

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)

  • Sharing of terms and conditions of research services
  • Completing KYC of fee paying clients

  • To disclose information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflicts of interest, if any
  • To disclose the extent of use of Artificial Intelligence tools in providing research services
  • To disclose, while distributing a third party research report, any material conflict of interest of such third party research provider or provide web address that directs a recipient to the relevant disclosures
  • To disclose any conflict of interest of the activities of providing research services with other activities of the research analyst

  • To distribute research reports and recommendations to the clients without discrimination
  • To maintain confidentiality w.r.t publication of the research report until made available in the public domain
  • To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information
  • To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines
  • To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services
  • To treat all clients with honesty and integrity
  • To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information

D. Grievance Redressal Mechanism and How to Access It

1. Lodging a Complaint/Grievance

With the Research Analyst directly: 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 21 days of the receipt of the grievance.

i. SCORES 2.0

A web based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in time-bound manner.

https://scores.sebi.gov.in

Two level review for complaint/grievance:

  • First review by RAASB
  • Second review by SEBI
ii. Email to RAASB

Complaints may also be sent to the designated email ID of the Research Analyst Administration and Supervisory Body (RAASB).

2. SMARTODR Platform

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.

Physical Complaints

Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051

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, including all statutory and regulatory disclosures
Right to Fair & True Advertisement
Right to Awareness about Service Parameters and Turnaround Times, and to be informed of the timelines for each service
Right to be Heard and to Satisfactory, Timely Grievance Redressal
Right to Exit from Financial Product or Service as per agreed terms and conditions
Right to Clear Guidance and Caution Notice for Complex and High-Risk Financial Products
Additional Rights to Vulnerable Consumers, including access in a suitable manner even if differently abled
Right to Provide Feedback on Financial Products and Services Used
Right Against Coercive, Unfair, and One-Sided Clauses in Financial Agreements

F. Expectations from the Investors (Responsibilities of Investors)

Do's
  • Always deal with SEBI registered Research Analyst
  • Ensure that the Research Analyst has a valid registration certificate
  • Check for SEBI registration number. Refer to the list of all SEBI registered Research Analysts on the SEBI website
  • Always pay attention towards disclosures made in the research reports before investing
  • Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through Centralized Fee Collection Mechanism (CeFCoM) of RAASB if the research analyst has opted for the mechanism (applicable for fee paying clients only)
  • Before buying/selling securities or applying in public offer, check for the research recommendation provided by your Research Analyst
  • Ask all relevant questions and clear your doubts with your Research Analyst before acting on recommendation
  • Seek clarifications and guidance on research recommendations, especially for complex and high risk financial products and services
  • Be aware that you have the right to stop availing the service of a Research Analyst as per the terms of service agreed
  • Be aware that you have the right to provide feedback to your Research Analyst in respect of the services received
  • Be aware that you will not be bound by any clause, prescribed by the research analyst, which contravenes any regulatory provisions
  • Inform SEBI about a Research Analyst offering assured or guaranteed returns
Don'ts
  • Do not provide funds for investment to the Research Analyst
  • Don't fall prey to luring advertisements or market rumors
  • Do not get attracted to limited period discount or other incentive, gifts, etc. offered by the Research Analyst
  • Do not share login credentials and password of your trading, demat or bank accounts with the Research Analyst