INVESTOR CHARTER IN RESPECT OF RAs
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.
1. Details of business transacted by the Research Analyst with
respect to the investors
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To publish research report based on the research activities of the
RA.
- To provide an independent unbiased view on securities.
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To offer unbiased recommendation, disclosing the financial
interests in recommended securities.
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To provide research recommendations, based on analysis of publicly
available information and known observations.
- To conduct audit annually.
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To ensure that all advertisements are in adherence to the
provisions of the Advertisement Code for Research Analysts.
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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.
2. 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
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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
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To disclose the extent of use of Artificial Intelligence tools in
providing research services
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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
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To disclose any conflict of interest of the activities of
providing research services with other activities of the research
analyst.
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To distribute research reports and recommendations to the clients
without discrimination.
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To maintain confidentiality w.r.t publication of the research
report until made available in the public domain.
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To respect data privacy rights of clients and take measures to
protect unauthorized use of their confidential information
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To disclose the timelines for the services provided by the
research analyst to clients and ensure adherence to the said
timelines
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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
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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.
3. Details of grievance redressal mechanism and how to access it
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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 21 days of the receipt
of the grievance.
Mode of filing the complaint on SCORES or with Research Analyst
Administration and Supervisory Body (RAASB)
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SCORES 2.0 (a web based centralized grievance redressal system
of SEBI for facilitating effective grievance redressal in
time-bound manner)
Website:
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
- Email to designated email ID of RAASB
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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 SMARTODR platform for its resolution
through online conciliation or arbitration.
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With regard to physical complaints, investors may send their
complaints to:
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
4. Rights of Investors
- Right to Privacy and Confidentiality
- Right to Transparent Practices
- Right to Fair and Equitable Treatment
- Right to Adequate Information
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Right to Initial and Continuing Disclosure
-Right to receive information about all the statutory and
regulatory disclosures
- Right to Fair & True Advertisement
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Right to Awareness of Service Parameters and Turnaround Times
- Right to be Informed of Timelines for Each Service
- Right to be Heard and Satisfactory Grievance Redressal
- Right to Timely Redressal
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Right to Exit from Financial product or service in accordance with
the terms and conditions agreed with the research analyst
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Right to receive clear guidance and caution notice when dealing in
Complex and High-Risk Financial Products and Services
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Additional Rights to vulnerable consumers
- Right to get
access to services in a suitable manner even if differently abled
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Right to provide feedback on the financial products and services
used
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Right against coercive, unfair, and one-sided clauses in financial
agreements
5. Expectations from the investors (Responsibilities of investors)
Do’s:
- Always deal with SEBI registered Research Analyst.
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Ensure that the Research Analyst has a valid registration
certificate.
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Check for SEBI registration number.
Please refer to the list of all SEBI registered Research Analyst
which is available on SEBI website in the following link:
SEBI Registered Research Analyst List
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Always pay attention towards disclosures made in the research
reports before investing.
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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 research analyst has
opted for the mechanism. (Applicable for fee paying clients only)
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Before buying/ selling securities or applying in public offer,
check for the research recommendation provided by your Research
Analyst.
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Ask all relevant questions and clear your doubts with your
Research Analyst before acting on recommendation.
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Seek clarifications and guidance on research recommendations from
your Research Analyst, especially if it involves complex and high
risk financial products and services.
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Always be aware that you have the right to stop availing the
service of a Research Analyst as per the terms of service agreed
between you and your Research Analyst.
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Always be aware that you have the right to provide feedback to
your Research Analyst in respect of the services received.
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Always be aware that you will not be bound by any clause,
prescribed by the research analyst, which is contravening any
regulatory provisions.
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Inform SEBI about Research Analyst offering assured or guaranteed
returns.
Don’ts:
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Do not provide funds for investment to the Research Analyst.
- Don’t fall prey to luring advertisements or market rumors.
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Do not get attracted to limited period discount or other
incentive, gifts, etc. offered by Research Analyst.
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Do not share login credential and password of your trading, demat
or bank accounts with the Research Analyst.
