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.
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
(prior to onboarding), where any conversation related to the research services has
taken place
C. Details of services provided to investors
Onboarding of Clients
o Sharing of terms and conditions of research services
o Completing KYC of fee paying clients
Disclosure to Clients:
o 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
o To disclose the extent of use of Artificial Intelligence tools in providing research
services
o 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
o 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
o Sharing of terms and conditions of research services
o Completing KYC of fee paying clients
Disclosure to Clients:
o 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
o To disclose the extent of use of Artificial Intelligence tools in providing research
services
o 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
o 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
1. Investor can lodge complaint/grievance against Research Analyst in the followingways:
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)
i. 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)
Second review done by SEBI
ii. Email to designated email ID of RAASB
2. 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.
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)
Second review done by SEBI
ii. Email to designated email ID of RAASB
2. 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.
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