Investor Charter in respect of RAs

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 with respect to the investors.

• 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 research services has taken place.

C. 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:
  • 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. Details of grievance redressal mechanism and how to access it

• 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)
• 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:
• A Second review done by SEBI
• ii. Email to designated email ID of RAASB
• 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.

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),

Bandra-Kurla Complex, Bandra (E),

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
• Right to Fair & True Advertisement
• Right to Awareness about Service Parameters and Turnaround Times
• Right to be Heard and Satisfactory Grievance Redressal
• Right to Exit as per terms
• Right to clear guidance on Complex/High-Risk Financial Products
• Right to feedback
• Right against coercive/unfair clauses in agreements
• Additional rights for vulnerable consumers including accessibility and support

F. Expectations from the investors (Responsibilities of investors)

• Always deal with SEBI registered Research Analyst.
• Ensure valid registration certificate.
• Check SEBI registration number. Refer: SEBI Registered RAs
• Read disclosures before investing.
• Pay via banking channels and collect signed receipts (for fee-paying clients).
• Review recommendations before acting.
• Ask questions and clear doubts.
• Seek clarification for complex/high-risk advice.
• Know your right to discontinue services.
• Know your right to provide feedback.
• You are not bound by unlawful or unfair clauses.
• Report any promise of assured returns to SEBI.

• Do not provide investment funds to the RA.
• Do not fall for misleading ads or rumors.
• Avoid offers with incentives, gifts, or discounts.
• Never share login credentials for trading/demat/bank accounts.