Investor Charter

INVESTOR CHARTER – RESEARCH ANALYST

A. Vision and Mission Statements for Investors

Vision:
Invest with knowledge & safety.

Mission:
Every investor should be able to invest in the 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 reports based on the research activities of the Research Analyst (RA).
• To provide an independent, unbiased view on securities.
• To offer unbiased recommendations, disclosing financial interests in the recommended securities.
• To provide research recommendations based on analysis of publicly available information and known observations.
• To conduct an annual audit.
• To ensure that all advertisements adhere to the SEBI 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

• Disclose material information that enables clients to make informed decisions, including business activity details, disciplinary history, terms and conditions, associate details, risks, and conflicts of interest.
• Disclose the extent of use of Artificial Intelligence tools in providing research services.
• Disclose any material conflict of interest when distributing a third-party research report, or provide a web link to the relevant disclosures.
• Disclose any conflict of interest between research services and other business activities.

Other Commitments

• Distribute research reports and recommendations to clients without discrimination.
• Maintain confidentiality of research reports until made public.
• Respect clients’ data privacy rights and protect confidential information.
• Disclose service timelines and ensure adherence.
• Provide clear guidance and caution notices when recommending complex or high-risk products.
• Treat all clients with honesty and integrity.
• Ensure confidentiality of client information unless required by law or consented by the client.

D. Details of Grievance Redressal Mechanism

1. Filing a Complaint with the Research Analyst

Investors can lodge grievances directly with the Research Analyst.
The Research Analyst shall strive to redress grievances immediately, but not later than 21 days from receipt.

2. Filing a Complaint via SCORES / RAASB

• SCORES 2.0: SEBI’s centralized web-based grievance redressal system
  https://scores.sebi.gov.in
• First review: by RAASB (Research Analyst Administration and Supervisory Body)
• Second review: by SEBI
• Email: Complaint can also be sent to the designated email ID of RAASB.

3. SMART ODR (Online Dispute Resolution)

If unsatisfied with the resolution, investors may file the complaint on the SMARTODR platform for online conciliation or arbitration.

4. Physical Complaints

Investors may also send 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 – 400051

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 Timelines
• Right to be Informed of Timelines for Each Service
• Right to be Heard and Receive Satisfactory Grievance Redressal
• Right to Timely Redressal
• Right to Exit Services per Agreed Terms
• Right to Clear Guidance and Caution Notices for Complex or High-Risk Products
• Right to Additional Support for Vulnerable or Differently-Abled Investors
• Right to Provide Feedback on Financial Products and Services
• Right against Coercive, Unfair, or One-Sided Contractual Clauses

F. Expectations from Investors (Responsibilities)

Do’s

1. Always deal with SEBI-registered Research Analysts only.
2. Verify the valid SEBI registration number on the SEBI website:
   List of SEBI-registered Research Analysts
3. Pay attention to all disclosures made in research reports before investing.
4. Make payments only through banking channels and keep signed receipts.
• You may also use Centralized Fee Collection Mechanism (CeFCoM) of RAASB (if applicable).
5. Review the RA’s research recommendation before buying/selling securities or applying in public offers.
6. Ask questions and seek clarifications from your RA before acting on any recommendation.
7. Seek guidance especially for complex or high-risk financial products.
8. Know your right to discontinue services anytime as per agreed terms.
9. Provide feedback on services received.
10. Report to SEBI any RA offering assured or guaranteed returns.

Don’ts

1. Do not provide funds to the Research Analyst for investment.
2. Do not fall prey to misleading advertisements or market rumors.
3. Do not be influenced by limited-period discounts, gifts, or incentives.
4. Do not share login credentials or passwords of your trading, demat, or bank accounts with the Research Analyst.

Issued in accordance with SEBI guidelines for Research Analysts
(Updated as per latest SEBI circular requirements)