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Investor Charter

Stock Brokers

Annexure – A
1. VISION

To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.

2. MISSION
    • To provide high quality and dependable service through innovation, capacity enhancement and use of technology.
    • To establish and maintain a relationship of trust and ethics with the investors.
    • To observe highest standard of compliances and transparency.
    • To always keep 'protection of investors' interest' as goal while providing service.
    • 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.
3. Services provided to Investors by stockbrokers include
    • Execution of trades on behalf of investors.
    • Issuance of Contract Notes.
    • Issuance of intimations regarding margin due payments.
    • Facilitate execution of early pay-in obligation instructions.
    • Periodic Settlement of client's funds.
    • Issuance of retention statement of funds at the time of settlement.
    • Risk management systems to mitigate operational and market risk.
    • Facilitate client profile changes in the system as instructed by the client.
    • Information sharing with the client w.r.t. relevant Market Infrastructure Institutions (MII) circulars.
    • Provide a copy of Rights & Obligations document to the client.
    • Communicating Most Important terms and Conditions (MITC) to the client.
    • Redressal of Investor's grievances.
4. Rights of Investors
    • Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself (including website providing mandatory information).
    • Receive complete information about the risks, obligations, and costs of any investment before investing.
    • Receive a copy of all completed account forms and rights & obligation document.
    • Receive a copy of ‘Most Important Terms & Conditions’ (MITC).
    • Receive account statements that are accurate and understandable.
    • Understand the terms and conditions of transactions you undertake.
    • Access your funds in a prescribed manner and receive information about any restrictions or limitations on access.
    • Receive complete information about maintenance or service charges, transaction or redemption fees, and penalties in form of tariff sheet.
    • Discuss your grievances with compliance officer / compliance team / dedicated grievance redressal team of the firm and receive prompt attention to and fair consideration of your concerns.
    • Close your zero balance accounts online with minimal documentation
    • Get the copies of all policies (including Most Important Terms and Conditions) of the broker related to dealings of your account
    • Not be discriminated against in terms of services offered to equivalent clients
    • Get only those advertisement materials from the broker which adhere to Code of Advertisement norms in place
    • In case of broker defaults, be compensated from the Exchange Investor Protection Fund as per the norms in place
    • Trade in derivatives after submission of relevant financial documents to the broker subject to brokers’ adequate due diligence.
    • Get warnings on the trading systems while placing orders in securities where surveillance measures are in place
    • Get access to products and services in a suitable manner even if differently abled
    • Get access to educational materials of the MIIs and brokers
    • Get access to all the exchanges of a particular segment you wish to deal with unless opted out specifically as per Broker norms
    • Deal with one or more stockbrokers of your choice without any compulsion of minimum business
    • Have access to the escalation matrix for communication with the broker
    • Not be bound by any clause prescribed by the Brokers which are contravening the Regulatory provisions.
5. Various activities of Stock Brokers with timelines
Sr. No.Activities Expected Timelines
1. KYC entered into KRA System and CKYCR3 working days of account opening
2. Client Onboarding Immediate, but not later than one week
3. Order execution Immediate on receipt of order, but not later than the same day
4. Allocation of Unique Client Code Before trading
5. Copy of duly completed Client Registration Documents to clients7 days from the date of upload of Unique Client Code to the Exchange by the trading member
6. Issuance of contract notes 24 hours of execution of trades
7. Collection of upfront margin from clientBefore initiation of trade
8. Issuance of intimations regarding other margin due paymentsAt the end of the T day
9. Settlement of client funds First Friday/Saturday of the month / quarter as per Exchange pre- announced schedule
10. ‘Statement of Accounts’ for Funds, Securities and CommoditiesMonthly basis
11. Issuance of retention statement of funds/commodities5 days from the date of settlement
12. Issuance of Annual Global Statement30 days from the end of the financial year
13. Investor grievances redressal 21 calendar days from the receipt of the complaint
6. DOs and DON’Ts for Investors
DOs DON’Ts
    • Read all documents and conditions being agreed before signing the account opening form.
    • Receive a copy of KYC, copy of account opening documents and Unique Client Code.
    • Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes.
    • Receive all information about brokerage, fees and other charges levied.
    • Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions.
    • If executed, receive a copy of Demat Debit and Pledge Instruction (DDPI) However, DDPI is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting DDPI, carefully examine the scope and implications of powers being granted.
    • Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT/CTT etc. as applicable, separately, within 24 hours of execution of trades.
    • Receive funds and securities/ commodities on time, as prescribed by SEBI or exchange from time to time.
    • Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges.
    • Receive statement of accounts periodically. If opted for running account settlement, account has to be settled by the stock broker as per the option given by the client (Monthly or Quarterly).
    • In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines.
    • Retain documents for trading activity as it helps in resolving disputes, if they arise.
    • Do not deal with unregistered stock broker.
    • Do not forget to strike off blanks in your account opening and KYC.
    • Do not submit an incomplete account opening and KYC form.
    • Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system.
    • Do not transfer funds, for the purposes of trading to anyone other than a stock broker. No payment should be made in name of employee of stock broker.
    • Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed.
    • Do not opt for digital contracts, if not familiar with computers.
    • Do not share trading password.
    • Do not fall prey to fixed / guaranteed returns schemes.
    • Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits.
    • Do not follow herd mentality for investments. Seek expert and professional advice for your investments

Additionally, Investors may refer to Dos and Don’ts issued by MIIs on their respective websites from time to time.

7. Grievance Redressal Mechanism

The process of investor grievance redressal is as follows:

1.Investor complaint/GrievancesInvestor can lodge complaint/grievance against stock broker in the following ways:

Mode of filing the complaint with stock broker - Link

Investor can approach the Stock Broker at the designated Investor Grievance e-mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance

Mode of filing the complaint with stock exchanges
2.Online Dispute Resolution (ODR) platform for online Conciliation and ArbitrationIf 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.
3.Steps to be followed in ODR for Review, Conciliation and Arbitration
    • Investor to approach Market Participant for redressal of complaint
    • If investor is not satisfied with response of Market Participant, he/she has either of the following 2 options:
        • May escalate the complaint on SEBI SCORES portal.
        • May also file a complaint on SMARTODR portal for its resolution through online conciliation and arbitration.
    • Upon receipt of complaint on SMARTODR portal, the relevant MII will review the matter and endeavor to resolve the matter between the Market Participant and investor within 21 days.
    • If the matter could not be amicably resolved, then the matter shall be referred for conciliation.
    • During the conciliation process, the conciliator will endeavor for amicable settlement of the dispute within 21 days, which may be extended with 10 days by the conciliator with consent of the parties to dispute.
    • If the conciliation is unsuccessful, then the investor may request to refer the matter for arbitration.
    • The arbitration process to be concluded by arbitrator(s) within 30 days, which is extendable by 30 days with consent of the parties to dispute.
8. Handling of Investor’s claims / complaints in case of default of a Trading Member / Clearing Member (TM/CM)

Default of TM/CM

    Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:
    • Circular is issued to inform about declaration of Stock Broker as Defaulter.
    • Information of defaulter stock broker is disseminated on Stock Exchange website.
    • Public Notice is issued informing declaration of a stock broker as defaulter and inviting claims within specified period.
    • Intimation to clients of defaulter stock brokers via emails and SMS for facilitating lodging of claims within the specified period.
    Following information is available on Stock Exchange website for information of investors:
    • Norms for eligibility of claims for compensation from IPF.
    • Claim form for lodging claim against defaulter stock broker.
    • FAQ on processing of investors’ claims against Defaulter stock broker.
    • Provision to check online status of client’s claim.
    • Standard Operating Procedure (SOP) for handling of Claims of Investors in the Cases of Default by Brokers
    • Claim processing policy against Defaulter/Expelled members
    • List of Defaulter/Expelled members and public notice issued
Information related to complaints : rupeezy.in/complaints
Annexure – A
1.VISION

Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.

2. MISSION
    • To hold securities of investors in dematerialised form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
    • To provide timely and accurate information to investors with regard to their holding and transfer of securities held by them.
    • To provide the highest standards of investor education, investor awareness and timely services so as to enhance Investor Protection and create awareness about Investor Rights.
3. Details of business transacted by the Depository and Depository Participant (DP)

A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP).

4. Description of services provided by the Depository through Depository Participants (DP) to investors
Basic Services
Sr. no.Brief about the Activity / ServiceExpected Timelines for processing by the DP after receipt of proper documents
1Dematerialization of securities7 days
2Rematerialization of securities7 days
3Mutual Fund Conversion / Destatementization5 days
4Re-conversion / Restatementisation of Mutual fund units7 days
5Transmission of securities7 days
6Registering pledge request15 days
7Closure of demat account30 days
8Settlement InstructionDepositories to accept physical DIS for pay-in of securities up to 4 p.m. and DIS in electronic form up to 6 p.m. on T+1 day
Depositories provide special services like pledge, hypothecation, internet based services etc. in addition to their core services and these include
Sr. no.Type of Activity /ServiceBrief about the Activity / Service
1Value Added ServicesDepositories also provide value added services such as
    • Basic Services Demat Account (BSDA)
    • Transposition cum dematerialization
    • Linkages with Clearing System
    • Distribution of cash and non-cash corporate benefits (Bonus, Rights, IPOs etc.),
      • LINK- value added services
2Consolidated Account statement (CAS)CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions).
3Digitalization of services provided by the depositoriesDepositories offer below technology solutions and e-facilities to their demat account holders through DPs:
5. Details of Grievance Redressal Mechanism
The Process of investor grievance redressal
Sr. no. Type of Activity /Service Brief about the Activity / Servic
1. Investor Complaint/ Grievances

Investor can lodge complaint/ grievance against the Depository/DP in the following ways:

  1. Electronic mode -
    • SCORES (a web based centralized grievance redressal system of SEBI)
    • Rispective Depository's web porta I dedicated for the filing of compliant click here
    • Emails to designated email IDs of Depository relations@nsdl.co.in
The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days.
2. Investor Grievance Redressal Committee of Depository If no amicable resolution is arrived, then the Investor has the option to refer the complaint/ grievance to the Grievance Redressal Committee (GRC) of the Depository. Upon receipt of reference, the GRC will endeavor to resolve the complaint/ grievance by hearing the parties, and examining the necessary information and documents.
3. Arbitration proceedings The Investor may also avail the arbitration proceedings mechanism set out in the Byelaws and Business Rules/Operating Instructions of the Depository in relation to any grievance, or dispute relating to depository services. The arbitration reference shall be concluded by way of issue of an arbitral award within 4 months from the date of appointment of arbitrator(s).
For the Multi-level complaint resolution mechanism available at the Depositories Link
    • Online Dispute Resolution (ODR) platform for online Conciliation & arbitration
          If the Investor is not satisfied with the resolution provided by DP or other Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through by online conciliation or arbitration. click here
    • Steps to be followed in ODR for Review, Conciliation & Arbitration
          Investor to approach Market Participant for redressal of complaint
          If an investor is not satisfied with response of Market Participant, he/she can escalate the complaint on SEBI SCORES portal.
          Alternatively, the investor may also file a complaint on SMARTODR portal for its resolution through online conciliation and arbitration.
          Upon receipt of complaint on SMARTODR portal, the relevant MII will review the matter and endeavour to resolve the matter between the Market Participant and investor within 21 days.
          If the matter could not be amicably resolved, then the Investor may request the MII to refer the matter case for conciliation.
          During the conciliation process, the conciliator will endeavor for amicable settlement of the dispute within 21 days, which may be extended with 10 days by the conciliator.
          If the conciliation is unsuccessful, then the investor may request to refer the matter for arbitration.
          The arbitration process to be concluded by arbitrator(s) within 30 days, which is extendable by 30 days
6. Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant
Sl No.Type of special circumstancesTimelines for the Activity/ Service
1
    • Depositories to terminate the participation in case a participant no longer meets the eligibility criteria and/or any other grounds as mentioned in the bye laws like suspension of trading member by the Stock Exchanges.
    • Participant surrenders the participation by its own wish.
Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email.
7. Dos and for Investors -LINK
8. Rights of investors -LINK
9. Responsibilities of Investors -LINK
Information related to complaints : rupeezy.in/complaints
Annexure – A
1.VISION

Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.

2. MISSION
    • To hold securities of investors in dematerialised form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
    • To provide timely and accurate information to investors with regard to their holding and transfer of securities held by them.
    • To provide the highest standards of investor education, investor awareness and timely services so as to enhance Investor Protection and create awareness about Investor Rights.
3. Details of business transacted by the Depository and Depository Participant (DP)

A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP). link.

4. Description of services provided by the Depository through Depository Participants (DPs) to investors

Basic Services

Sr. no.Brief about the Activity / ServiceExpected Timelines for processing by the DP after receipt of proper documents
1.Dematerialization of securities7 days
2.Rematerialization of securities7 days
3.Mutual Fund Conversion / Destatementization5 days
4.Re-conversion / Restatementisation of Mutual fund units7 days
5.Transmission of securities7 days
6.Registering pledge request15 days
7.Closure of demat account30 days
8.Settlement InstructionFor T+1 day settlements, Participants shall accept instructions from the Clients, in physical form up to 4 p.m. (in case of electronic instructions up to 6.00 p.m.) on T day for pay-in of securities. For T+0 day settlements, Participants shall accept EPI instructions from the clients, till 11:00 AM on T day. Note: ‘T’ refers ‘Trade Day’

Depositories provide special services like pledge, hypothecation, internet-based services etc. in addition to their core services and these include

Sr. no.Type of Activity /ServiceBrief about the Activity / Service
1.Value Added Services Depositories also provide value added services such as
    • Basic Services Demat Account (BSDA)
    • Transposition cum dematerialization
    • Linkages with Clearing System
    • Distribution of cash and non-cash corporate benefits (Bonus, Rights, IPOs etc.), stock lending, demat of NSC / KVP, demat of warehouse receipts etc.
      • LINK value added services.
2.Consolidated Account statement (CAS)CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions).
3.Digitalization of services provided by the depositoriesDepositories offer below technology solutions and e-facilities to their demat account holders through DPs:
5. Details of Grievance Redressal Mechanism

The Process of investor grievance redressal

1. Investor Complaint/ GrievancesInvestor can lodge complaint/ grievance against the Depository/DP in the following ways:
  1. Electronic mode -
    • SCORES (a web based centralized grievance redressal system of SEBI) [link to be provided by Depositories]
          Two Level Review for complaint/grievance against DP:
        • First review done by Designated Body
        • Second review done by SEBI
    • Respective Depository’s web portal dedicated for the filing of compliant click here
    • Emails to designated email IDs of Depository complaints@cdslindia.com
  2. Offline mode
        For tracking of your grievance, we request you to submit the same online through the portal. The complaints/ grievances lodged directly with the Depository shall be resolved within 30 days The complaints/ grievances lodged directly with the Depository shall be resolved within 21 days.
2.Online DisputeResolution (ODR) platform for online Conciliation and Arbitration If the Investor is not satisfied with the resolutionprovided by DP or other Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through by online conciliation or arbitration. https://smartodr.in/login LINK: Complaint Resolution process at Depositories
3.Steps to be followed in ODR for Review, Conciliation and Arbitration
    • Investor to approach Market Participant for redressal of complaint
    • If investor is not satisfied with response of Market Participant, he/she can escalate the complaint on SEBI SCORES portal.
    • Alternatively, the investor may also file a complaint on SMARTODR portal for its resolution through online conciliation and arbitration.
    • Upon receipt of complaint on SMARTODR portal, the relevant MII will review the matter and endeavour to resolve the matter between the Market Participant and investor within 21 days.
    • If the matter could not be amicably resolved, then the Investor may request the MII to refer the matter case for conciliation.
    • During the conciliation process, the conciliator will endeavor for amicable settlement of the dispute within 21 days, which may be extended with 10 days by the conciliator.
    • If the conciliation is unsuccessful, then the investor may request to refer the matter for arbitration.
    • The arbitration process to be concluded by arbitrator(s) within 30 days, which is extendable by 30 days.
6. Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant
Sr. No.Type of special circumstancesTimelines for the Activity/ Service
1
    • Depositories to terminate the participation in case a participant no longer meets the eligibility criteria and/or any other grounds as mentioned in the bye laws like suspension of trading member by the Stock Exchanges.
    • Participant surrenders the participation by its own wish.
Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email.
7. Dos and Don’ts for Investors - LINK
8. Rights of investors - LINK
9. Responsibilities of Investors - LINK
10. Code of Conduct for Depositories - LINK
11. Code of Conduct for Participants - LINK
Information related to complaints : rupeezy.in/complaints
1. Vision

Invest with knowledge & safety.

2. 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.

3. 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.
4. Details of services provided to investors (No Indicative Timelines)
  1. Onboarding of Clients.
  2. Disclosure to Clients
    • To distribute research reports and recommendations to the clients without discrimination.
  3. To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
5. Details of grievance redressal mechanism and how to access it

In case of any grievance / complaint, an investor should approach the concerned research analyst and shall ensure that the grievance is resolved within 30 days.

If the investor's complaint is not redressed satisfactorily, one may lodge a complaint with SEBI on SEBl's SCORES portal which is a centralized web based complaints redressal system. SEBI takes up the complaints registered via SCORES with the concerned intermediary for timely redressal. SCORES facilitates tracking the status of the complaint.

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.

6. Expectations from the investors (Responsibilities of investors).
Do's
    • Always deal with SEBI registered Research Analyst.
    • Ensure that the Research Analyst has a valid registration certificate.
    • Check for SEBI registration number.
    • Please refer to the list of all SEBI registered Research Analysts which is available on SEBI website in the following link: ( https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmld=14 )
    • Always pay attention towards disclosures made in the research reports before investing.
    • Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments.
    • Before buying securities or applying in public offer, check for the research recommendation provided by your research Analyst.
    • Ask all relevant questions and clear your doubts with your Research Analyst before acting on the recommendation.
    • Inform SEBI about 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 discount or other incentive, gifts, etc. offered by Research Analyst.
    • Do not share login credentials and password of your trading and demat accounts with the Research Analyst.