Investor Charter

A. Vision and Mission Statements for Investors

Vision: Invest with knowledge & safety.

Mission: Every investor should be able to invest in the 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 Investors

• To publish research reports based on the research activities of the RA.
• To provide an independent, unbiased view on securities.
• To offer unbiased recommendations, disclosing the financial interests in recommended securities.
• To provide research recommendations based on analysis of publicly available information and known observations.
• To conduct an audit annually.
• To ensure that all advertisements adhere to the provisions of the Advertisement Code for Research Analysts.
• 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.

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 business activity, disciplinary history, terms and conditions of research services, details of associates, and 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 a web address that directs a recipient to the relevant disclosures.
• To disclose any conflict of interest between the activity of providing research services and other activities of the research analyst.
• To distribute research reports and recommendations to clients without discrimination.
• To maintain confidentiality with respect to publication of the research report until it is made available in the public domain.
• To respect the 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 those timelines.
• To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products or 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 the client has provided specific consent to share it.

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

An investor can lodge a complaint/grievance against the Research Analyst in the following ways:

Mode of Filing a Complaint with the Research Analyst

In case of any grievance or complaint, an investor may approach the concerned Research Analyst, who shall strive to redress the grievance immediately, but not later than 21 days from receipt of the grievance.

Mode of Filing a Complaint on SCORES or with the 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 a time-bound manner: SEBI SCORES portal
• Two-level review for a complaint/grievance against a Research Analyst: first review by the designated body (RAASB), second review by SEBI.
• Email to the designated email ID of RAASB.
• If the investor is not satisfied with the resolution provided, they have the option to file the complaint/grievance on the SMARTODR platform for resolution through online conciliation or arbitration.

E. Rights of Investors

• Right to have digital accessibility.
• 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 information about all statutory and regulatory disclosures.
• Right to fair & 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 to satisfactory grievance redressal.
• Right to timely redressal.
• Right to exit from a 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 for vulnerable consumers: right to access 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.

F. Expectations from Investors (Responsibilities of Investors)

Do’s

• Always deal with a SEBI-registered Research Analyst.
• Ensure that the Research Analyst has a valid registration certificate.
• Check the SEBI registration number against the official list of SEBI-registered Research Analysts: SEBI list of registered Research Analysts
• Always pay attention to disclosures made in research reports before investing.
• Pay your Research Analyst through banking channels only, and maintain duly signed receipts mentioning the details of your payments. Fee-paying clients may use the Centralized Fee Collection Mechanism (CeFCoM) of RAASB where the research analyst has opted for the mechanism.
• Before buying or selling securities, or applying in a public offer, check the research recommendation provided by your Research Analyst.
• Ask all relevant questions and clear your doubts with your Research Analyst before acting on a recommendation.
• Seek clarifications and guidance on research recommendations from your Research Analyst, especially where complex and high-risk financial products and services are involved.
• Be aware that you have the right to stop availing the services of a Research Analyst, as per the agreed terms of service.
• Be aware that you have the right to provide feedback to your Research Analyst regarding services received.
• Be aware that you will not be bound by any clause prescribed by the research analyst that contravenes any regulatory provision.
• Inform SEBI about any Research Analyst offering assured or guaranteed returns.

Don’ts

• Do not provide funds for investment to the Research Analyst.
• Don’t fall prey to luring advertisements or market rumours.
• Do not get attracted to limited-period discounts or other incentives, gifts, etc., offered by the Research Analyst.
• Do not share login credentials or passwords of your trading, demat, or bank accounts with the Research Analyst.

Important Guidance