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Investor Charter

INVESTOR CHARTER IN RESPECT OF RAs

1. 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.

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

  • To publish research reports based on the research activities of the RA

  • To provide an independent, unbiased view

  • To offer unbiased recommendations, disclosing financial interests in recommended securities

  • To provide research recommendations based on analysis of publicly available information and observations

  • To conduct audits annually

  • To ensure advertisements adhere to the Advertisement Code for Research Analysts

  • To maintain records of all client interactions, including with prospective clients, related to research services

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

Onboarding of Clients

  • Sharing terms and conditions of research services

  • Completing KYC of fee-paying clients

Disclosure to Clients

  • Disclose material information needed for informed decision-making, including:

    • Business activity

    • Disciplinary history

    • Terms and conditions

    • Details of associates

    • Risks and conflicts of interest

  • Disclose use of Artificial Intelligence tools in research

  • Disclose any material conflict of interest in third-party research reports or provide a web link to disclosures

  • Disclose conflicts between research and other activities of the analyst

  • Distribute research reports and recommendations impartially

  • Maintain confidentiality until research is public

  • Protect client data and privacy

  • Adhere to defined service timelines

  • Provide clear cautionary guidance on complex/high-risk products

  • Treat clients with honesty and integrity

  • Keep client information confidential unless required by law or client consent is obtained

4. Details of Grievance Redressal Mechanism and How to Access It

  1. Complaints can be lodged with the Research Analyst through:

    • Direct communication. The Research Analyst must respond within 21 days of receipt.

  2. Complaints can also be filed via:

    • SCORES: Web-based grievance redressal by SEBI – https://scores.sebi.gov.in

    • RAASB (Research Analyst Administration and Supervisory Body) via designated email ID

  3. Two-Level Complaint Review:

    • First review by RAASB

    • Second review by SEBI

  4. SMARTODR Platform:

    • If dissatisfied, investor can use SMARTODR for online conciliation or arbitration

  5. 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

5. 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 receive statutory and regulatory information

  • Right to Fair & True Advertisement

  • Right to Awareness about Service Parameters and Turnaround Times

  • Right to be informed of service timelines

  • Right to be Heard and for Satisfactory Grievance Redressal

  • Right to Timely Redressal

  • Right to Exit financial products/services per agreed terms

  • Right to Clear Guidance on High-Risk Products

  • Additional rights for vulnerable consumers

  • Right to accessible services for differently abled individuals

  • Right to provide feedback

  • Right against coercive/unfair/one-sided clauses in financial agreements

6. Expectations from the Investors (Responsibilities of Investors)

Do’s

  1. Always deal with SEBI-registered Research Analysts

  2. Ensure Research Analyst has valid SEBI registration

  3. Check SEBI registration on: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14

  4. Read and understand disclosures in research reports

  5. Pay Research Analysts via banking channels only; maintain signed receipts

    • CeFCoM (Centralized Fee Collection Mechanism) may be used if available

  6. Check the research recommendation before buying/selling securities or public offers

Also

  • Ask relevant questions before acting on recommendations

  • Seek clarifications for complex/high-risk financial products