Investor Charter in respect of Research Analyst (RA)

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 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 adhere to 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 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 material information including business activity, disciplinary history, terms and conditions, associates, risks and conflicts of interest.
- To disclose the extent of use of Artificial Intelligence tools in providing research services.
- To disclose material conflict of interest while distributing third-party research reports or provide web address directing to relevant disclosures.
- To disclose any conflict of interest of providing research services with other activities of the research analyst.
To distribute research reports and recommendations to clients without discrimination.
To maintain confidentiality until research report is made public.
To respect data privacy rights and protect confidential information.
To disclose timelines for services and ensure adherence.
To provide clear guidance and caution notice for complex and high-risk products.
To treat all clients with honesty and integrity.
To ensure confidentiality unless required under legal obligations or with client consent.

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

1. Mode of filing complaint with Research Analyst
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.

2. Mode of filing complaint on SCORES or with RAASB

SCORES 2.0: A web-based centralized grievance redressal system of SEBI.
https://scores.sebi.gov.in
Email to designated email ID of RAASB.

Two-level review mechanism:

First review by designated body (RAASB).
Second review by SEBI.

If not satisfied, investor may file complaint on SMARTODR platform for online conciliation or arbitration.

Physical complaints may be sent 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), Mumbai - 400 051.

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 informed of timelines for each service
Right to be Heard and Satisfactory Grievance Redressal
Right to Timely Redressal
Right to Exit from Financial Product or Service as per agreed terms
Right to Clear Guidance for Complex and High-Risk Financial Products
Additional Rights to Vulnerable Consumers
Right to Provide Feedback
Right against coercive, unfair and one-sided clauses

F. Expectations from Investors (Responsibilities)

Do’s

Always deal with SEBI registered Research Analyst.
Ensure Research Analyst has valid registration certificate.
Check SEBI registration number. Refer:https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14
Pay attention to disclosures in research reports.
Make payments through banking channels only.
Check recommendations before buying/selling securities.
Ask relevant questions and clear doubts.
Seek clarification for complex/high-risk products.
Be aware of right to discontinue services.
Be aware of right to provide feedback.
Ensure no clause contravenes regulatory provisions.
Inform SEBI about assured/guaranteed return offers.

Don’ts

Do not provide funds for investment to Research Analyst.
Don’t fall prey to advertisements or market rumors.
Do not get attracted to limited period discounts or incentives.
Do not share login credentials of trading, demat or bank accounts.