Client Rights

Investor Charter in Respect of RAs

Investor charter covering the vision, services, rights, grievance process, and investor responsibilities for Research Analyst services.

Vision and Mission Statements for Investors

Vision: Invest with knowledge and 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.

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, where any conversation related to the research services has taken place.

Services Provided to Investors

Onboarding of clients.
Sharing of terms and conditions of research services.
Completing KYC of fee paying clients.
Disclosure of information that is material for the client to make an informed decision, including details of business activity, disciplinary history, terms and conditions of research services, associates, risks, and conflicts of interest, if any.
Disclosure of the extent of use of Artificial Intelligence tools in providing research services.
Disclosure, while distributing a third party research report, of any material conflict of interest of such third party research provider or web address that directs a recipient to the relevant disclosures.
Disclosure of any conflict of interest of the activities of providing research services with other activities of the research analyst.
Distribution of research reports and recommendations to the clients without discrimination.
Maintenance of confidentiality with respect to publication of the research report until made available in the public domain.
Respect for data privacy rights of clients and measures to protect unauthorized use of confidential information.
Disclosure of timelines for services provided by the research analyst to clients and adherence to the said timelines.
Clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services.
Treatment of all clients with honesty and integrity.
Confidentiality of information shared by clients unless such information is required for legal obligations or the client has provided specific consent.

Grievance Redressal Mechanism

Investor can lodge complaint/grievance against Research Analyst by approaching the concerned Research Analyst, who shall strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance.

Complaints can also be filed on 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 against Research Analyst: first review done by designated body (RAASB), and second review done by SEBI.

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

For physical complaints, investors may send 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.

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 information about all statutory and regulatory disclosures.
Right to Fair and True Advertisement.
Right to Awareness about Service Parameters and Turnaround Times.
Right to be informed of the timelines for each service.
Right to be Heard and Satisfactory Grievance Redressal.
Right to have timely redressal.
Right to Exit from Financial product or service in accordance with the terms and conditions agreed with the research analyst.
Right to receive clear guidance and caution notice when dealing in Complex and High-Risk Financial Products and Services.
Additional rights to vulnerable consumers, including the right to get access to services in a suitable manner even if differently abled.
Right to provide feedback on the financial products and services used.
Right against coercive, unfair, and one-sided clauses in financial agreements.

Expectations from 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 available on SEBI website: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14.
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.
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 from your Research Analyst, especially if it involves 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 between you and your Research Analyst.
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 Research Analyst offering assured or guaranteed returns.

Expectations from Investors - Don'ts

Do not provide funds for investment to the Research Analyst.
Do not fall prey to luring advertisements or market rumors.
Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst.
Do not share login credential and password of your trading, demat or bank accounts with the Research Analyst.