INVESTOR CHARTER

Investor Charter

A. Vision and Mission Statements for Investors

Vision

Invest with knowledge and safety.

Mission

Every investor should be able to invest in the right investment products based on their needs.
Manage and monitor investments to meet financial goals.
Access reports and enjoy financial wellness.

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

The Research Analyst (RA) shall:

Publish research reports based on research activities.
Provide an independent and unbiased view on securities.
Offer unbiased recommendations while disclosing any financial interests in recommended securities.
Provide research recommendations based on publicly available information and known observations.
Conduct annual audits.
Ensure all advertisements comply with the Advertisement Code for Research Analysts.
Maintain records of interactions with all clients, including prospective clients prior to onboarding, where discussions related to research services have taken place.

C. Details of Services Provided to Investors

Client Onboarding

Onboarding of clients.
Sharing terms and conditions of research services.
Completing KYC requirements for fee-paying clients.

Client Disclosures

The Research Analyst shall:

Disclose all material information necessary for clients to make informed decisions, including:
- Business activities
- Disciplinary history
- Terms and conditions of research services
- Associate details
- Risks and conflicts of interest, if any
Disclose the extent of Artificial Intelligence (AI) usage in providing research services.
Disclose any material conflict of interest while distributing third-party research reports or provide a link to relevant disclosures.
Disclose conflicts of interest between research services and other business activities.

Research Services

The Research Analyst shall:

Distribute research reports and recommendations without discrimination.
Maintain confidentiality of research reports until they are publicly released.
Respect client data privacy and protect confidential information from unauthorized access.
Disclose service timelines and ensure adherence to those timelines.
Provide clear guidance and caution notices when recommending complex or high-risk financial products and services.
Treat all clients honestly and with integrity.
Maintain confidentiality of client information unless:
- Required by law, or
- Explicit consent has been provided by the client.

D. Grievance Redressal Mechanism

1. Complaint Filing with the Research Analyst

In case of any grievance or complaint, investors may contact the concerned Research Analyst directly. The Research Analyst shall endeavor to resolve grievances immediately and no later than 21 days from receipt.

2. Complaint Filing Through SCORES or RAASB

SCORES 2.0

Investors may file complaints through the Securities and Exchange Board of India (SEBI) grievance portal:

SEBI SCORES 2.0 Grievance Redressal Portal

Complaint Review Process

First review by the Research Analyst Administration and Supervisory Body (RAASB).
Second review by SEBI.

Email Complaint

Complaints may also be submitted to the designated RAASB email address.

3. SMARTODR Platform

If investors are not satisfied with the resolution provided by market participants, they may file complaints on the SMARTODR platform for resolution through online conciliation or arbitration.

Physical Complaints

Investors may send physical complaints to:

Office of Investor Assistance and Education
Securities and Exchange Board of India (SEBI)
SEBI Bhavan, Plot No. C4-A, ‘G’ Block
Bandra-Kurla Complex, Bandra (E)
Mumbai – 400051

E. Rights of Investors

Investors have the following rights:

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 all statutory and regulatory disclosures
Right to Fair and True Advertisement
Right to Awareness of Service Parameters and Turnaround Times
Right to be informed of service timelines
Right to be Heard and Receive Satisfactory Grievance Redressal
Right to Timely Redressal
Right to Exit from a financial product or service according to agreed terms and conditions
Right to receive clear guidance and caution notices regarding complex and high-risk financial products and services
Additional rights for vulnerable consumers, including access to services in a suitable manner for differently abled individuals
Right to provide feedback on financial products and services used
Right against coercive, unfair, or one-sided clauses in financial agreements

F. Expectations from Investors (Responsibilities of Investors)

Do’s

Always deal with a SEBI-registered Research Analyst.
Verify that the Research Analyst has a valid registration certificate.
Check the SEBI registration number.
Refer to:
- List of SEBI Registered Research Analysts
Review disclosures in research reports before investing.
Pay Research Analyst fees only through banking channels and maintain receipts. Fee-paying clients may use the Centralized Fee Collection Mechanism (CeFCoM), if available.
Review research recommendations before buying or selling securities or applying for public offerings.
Ask relevant questions and clarify doubts before acting on recommendations.
Seek guidance when recommendations involve complex or high-risk financial products.
Be aware of your right to discontinue Research Analyst services according to agreed terms.
Provide feedback regarding services received.
Be aware that any contractual clause contrary to regulatory provisions is not binding.
Inform SEBI if a Research Analyst offers assured or guaranteed returns.

Don’ts

Do not provide investment funds to a Research Analyst.
Do not be influenced by misleading advertisements or market rumors.
Do not be attracted by limited-period discounts, incentives, gifts, or promotional offers.
Do not share login credentials or passwords for trading, demat, or bank accounts with a Research Analyst.