Investor Charter in Respect of Research Analyst (RA)

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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 Research Analyst.
• 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 / marketing / promotional material 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 (No Indicative Timelines)

Onboarding of Clients

• Sharing of terms and conditions of research services.
• Completing KYC of 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 distribute research reports and recommendations to the clients without discrimination.
• To maintain confidentiality with respect to 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 inform the client about the timelines for each service.
• To provide clear guidance and caution notice when dealing in complex and high-risk financial products and services.
• To ensure confidentiality of information shared by investors unless such information is required to be provided in furtherance of discharging legal obligations or investors have 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 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)

1. 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.
2. 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 a complaint on the SMARTODR portal (https://smartodr.in) for online conciliation and online 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), 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 receive information about all the 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 Satisfactory Grievance Redressal.
• Right to have timely redressal.
• Right to Exit from financial product or service.
• Right to receive clear guidance and caution notice when dealing in complex and high-risk financial products and services.
• Right to Accessibility for differently abled consumers.
• Right to provide feedback.
• Right to be protected against coercive, unfair, and one-sided clauses in financial agreements.
• Right to hold the Research Analyst accountable for enforcing investor rights.

F. Responsibilities of investors

Do's

1. Always deal with SEBI registered Research Analyst having valid registration certificate.
2. Check for SEBI registration number of the Research Analyst on SEBI website.
3. Please refer to all the disclosures made by the Research Analyst before subscribing or availing the research services.
4. Pay your fees for research services through banking channels only and maintain duly signed receipts mentioning the details of your payments. (CeFCoM facility available, if opted by Research Analyst.)
5. Before acting on any recommendation of the Research Analyst, review the same.
6. Ask all relevant questions and clear your doubts with the Research Analyst before acting on the recommendation.
7. If dealing in complex and high-risk financial products and services, seek clarification from the Research Analyst.
8. Inform the Research Analyst about your wish to stop availing the research services.
9. Provide your feedback to the Research Analyst about research services availed.
10. You are not bound by the clauses which are in contravention of the Regulations.
11. Report to SEBI, in case any Research Analyst is offering assured or guaranteed returns.

Don'ts

1. Do not provide funds for investment to the Research Analyst.
2. Don't fall for any luring advertisements or market rumours.
3. Avoid limited period discount or incentive or gifts offered by Research Analyst.
4. Do not share trading credentials – Loss, Demat and bank account details and passwords with the Research Analyst.