Investor Charter RA

Last Updated: 22nd July, 2025

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 reports based on the research activities of the RA.

  • To provide an independent unbiased view on securities.

  • To offer unbiased recommendations, disclosing financial interests in recommended securities.

  • To provide research recommendations based on analysis of publicly available information and known observations.

  • To conduct audit annually.

  • To ensure that all advertisements comply with SEBI’s Advertisement Code for Research Analysts.

  • To maintain records of all client interactions, including with 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.

  • Completion of KYC for fee-paying clients.

Disclosure to Clients

  • Disclose information that is material for clients to make informed decisions, including:

    • Business activity

    • Disciplinary history

    • Terms and conditions of research services

    • Details of associates

    • Risks and conflicts of interest, if any

  • Disclose the extent of use of Artificial Intelligence (AI) tools in providing research services.

  • When distributing a third-party research report:

    • Disclose any material conflict of interest of such third party

    • Or provide a web address that leads to the relevant disclosures

  • Disclose any conflict of interest between research activities and other business activities of the research analyst.

Research Service Execution

  • Distribute research reports and recommendations to clients without discrimination.

  • Maintain confidentiality regarding publication of research reports until they are made public.

  • Respect data privacy rights of clients and implement measures to prevent unauthorized use of client information.

  • Disclose timelines for services and adhere to them.

  • Provide clear guidance and caution notices when recommending complex and high-risk financial products/services.

  • Treat all clients with honesty and integrity.

  • Ensure confidentiality of client information unless required by law or permitted by client consent.

D. Grievance Redressal Mechanism and How to Access It

1. Lodging Complaints with Research Analyst

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

2. Filing a Complaint on SCORES or with RAASB

Two-level review process:

  • Level 1: By Designated Body (RAASB)

  • Level 2: By SEBI

OR

  • Email complaint to the designated email ID of RAASB

3. SMARTODR Platform

If not satisfied with the resolution, investors may use the SMARTODR platform for online conciliation or arbitration.

4. Physical Complaints

Send complaints to:
Office of Investor Assistance and Education
Securities and Exchange Board of India (SEBI)
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

    • Including statutory and regulatory disclosures

  • 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 to Satisfactory Grievance Redressal

  • Right to Timely Redressal

  • Right to Exit from Financial Product/Service (as per agreed terms)

  • Right to Clear Guidance and Caution Notices on Complex and High-Risk Financial Products/Services

  • Additional Rights for Vulnerable Consumers

    • Including access to services in suitable formats (e.g., for differently abled)

  • Right to Provide Feedback on financial products and services used

  • Right Against Coercive, Unfair, or One-Sided Clauses in financial agreements

F. Expectations from the Investors (Responsibilities of Investors)

✅ Do’s

  1. Always deal with SEBI-registered Research Analysts.

  2. Ensure the Research Analyst has a valid registration certificate.

  3. Check for SEBI registration number.
    🔗 List of SEBI Registered Research Analysts

  4. Pay attention to disclosures made in research reports before investing.

  5. Make payments only through banking channels and keep signed receipts with payment details.

    • Payments can also be made via CeFCoM if opted by the RA. (Fee-paying clients only)

  6. Check for the research recommendation before buying/selling securities or applying in public offers.

  7. Ask relevant questions and clear doubts with your Research Analyst before acting.

  8. Seek clarifications and guidance, especially for complex or high-risk products.

  9. Know that you have the right to stop availing the service as per agreed terms.

  10. Know that you have the right to provide feedback on the services received.

  11. Be aware that you are not bound by any clause in violation of regulatory provisions.

  12. Inform SEBI if any RA offers assured or guaranteed returns.

❌ Don’ts

  1. Do not provide funds for investment to the Research Analyst.

  2. Don’t fall prey to luring advertisements or market rumors.

  3. Do not get attracted to limited-time discounts, gifts, or incentives.

  4. Do not share login credentials or passwords of your trading, demat, or bank accounts with the Research Analyst.