FinChemist upholds clear and fair terms and conditions to ensure transparency and mutual understanding.
Terms & Conditions including MITC
Finchemist Solutions
(SEBI Registration No. INH000023117)
Disclosure of Minimum Mandatory Terms and Conditions to Clients
(As per SEBI (Research Analysts) Regulations, 2014 and SEBI Circulars)
1. Availing the Research Services
By accepting delivery of the research service, the client confirms that he/she has elected to subscribe to the research services of the Research Analyst (RA) at his/her sole discretion.
The RA confirms that research services shall be rendered in accordance with the applicable provisions of the SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”) and other applicable laws.
2. Obligations on Research Analyst
The RA and the client shall be bound by the SEBI Act, 1992 and all applicable rules, regulations, and circulars issued by SEBI, including the RA Regulations and relevant Government notifications, as may be in force from time to time.
3. Client Information and KYC
The client shall furnish all required details in full, as may be mandated by the RA, supported by documents and information as may be prescribed by SEBI or the Research Analyst Administration and Supervisory Body (RAASB) from time to time.
The RA shall collect, verify, upload, and maintain KYC records of clients with the SEBI-registered KYC Registration Agency (KRA) in accordance with SEBI requirements.
4. Standard Terms of Service
Client Declaration:
“I/We have read and understood the terms and conditions applicable to a Research Analyst as defined under Regulation 2(1)(u) of the SEBI (Research Analysts) Regulations, 2014, including the fee structure.
I/We are subscribing to the research services for our own benefit and consumption, and any reliance placed on the research report provided by the Research Analyst shall be as per our own judgement and assessment of the conclusions contained therein.
I/We understand that:
i. Any investment made based on the recommendations in the research report is subject to market risk.
ii. Recommendations in the research report do not provide any assurance of returns.
iii. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report.”
Declaration by the Research Analyst:
i. The RA is duly registered with SEBI as a Research Analyst pursuant to the SEBI (Research Analysts) Regulations, 2014 and its registration details are: (Registration Number, Registration Date).
ii. The RA possesses valid registration and qualifications required to render research services under the RA Regulations.
iii. The research services provided do not conflict with or violate any law, rule, regulation, contract, or instrument applicable to the RA.
iv. The maximum fee that may be charged by the RA is ₹1,51,000 per annum per family of client.
v. Recommendations provided by the RA do not guarantee or assure any returns.
If RA is an individual:
The RA declares that he/she is not engaged in any additional professional or business activities on a whole-time or executive basis which may interfere with or influence the independence of research or recommendations.
5. Consideration and Mode of Payment
The client shall pay the agreed fees and statutory charges as applicable to the RA through permitted modes such as cheque, bank transfer, or UPI.
All payments shall be made in accordance with the manner and mechanisms specified by SEBI or RAASB.
6. Risk Factors
Investments in securities are subject to market risks, including possible loss of principal. Past performance is not indicative of future returns. (The RA shall include a detailed statement covering standard investment risks.)
7. Conflict of Interest
The RA shall comply with SEBI’s applicable regulations and circulars relating to identification, disclosure, and mitigation of any actual or potential conflict of interest.
(The RA shall include a detailed statement of mandatory disclosures here.)
8. Termination of Service and Refund of Fees
The RA may suspend or terminate research services in case of suspension or cancellation of its SEBI registration.
In such case, the RA shall refund the residual amount to the client on a pro-rata basis from the effective date of suspension/cancellation until the end of the subscription period.
If suspension continues beyond 60 (sixty) days or registration is cancelled, refund shall be made accordingly.
9. Grievance Redressal and Dispute Resolution
Clients may escalate grievances such as non-receipt of research reports, missing pages, download issues, or any service deficiencies to the designated person of the RA.
For complaints or grievances, clients may contact:
Grievance Officer / Compliance Officer:
Name: Sagar Vijay Agrawal
Designation: Compliance Officer
Email: grievance@finchemist.com
Phone: +91 8149725003
Address: FINCHEMIST SOLUTIONS, Samruddhi Namrata Apartment, Flat no-8, 4th floor, Plot no-4, New Pandit Colony, Nashik 422002, Maharashtra, India.
The RA shall resolve grievances within 7 (seven) business days or as prescribed by SEBI.
Escalation Steps:
10. Additional Clauses
Any additional voluntary clauses included by the RA must not contravene SEBI’s rules, regulations, or circulars.
Any amendment to such clauses shall be preceded by at least 15 days’ prior notice to clients.
11. Mandatory Notice to Clients
Clients are advised to go through SEBI’s “Do’s and Don’ts while dealing with Research Analysts” as per SEBI Master Circular No. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024, or as updated from time to time.
12. Most Important Terms and Conditions (MITC)
i. The Research Analyst (RA) provides only research services and is not authorized to execute or carry out trades on behalf of clients.
Clients are advised not to permit the RA to execute any purchase or sale transactions.
ii. The fee charged by the RA shall be subject to the maximum amount prescribed by SEBI or RAASB:
a. Current limit – ₹1,51,000 per annum per family for all research services.
b. The fee limit does not include statutory charges.
c. Fee limits do not apply to non-individual clients or accredited investors.
iii. The RA may charge fees in advance if agreed by the client; such advance shall not exceed one quarter.
In case of premature termination by either party, the client shall receive a pro-rata refund for the unexpired period.
iv. Fees shall be paid only through permitted modes (cheque, online transfer, UPI, etc.).
Cash payments are not permitted.
Clients may optionally use the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited (recognized RAASB).
v. The RA shall disclose and mitigate any actual or potential conflicts of interest in accordance with SEBI and RAASB norms.
vi. Assured / guaranteed / fixed return schemes or similar offerings are strictly prohibited.
vii. The RA cannot guarantee returns, profits, or accuracy of predictions.
All opinions and estimates are based on analysis of available data and assumptions as of the publication date.
viii. Investments based on research recommendations are subject to market risks.
There is no assurance of returns and no recourse for losses.
ix. SEBI registration, enlistment with RAASB, or NISM certification do not guarantee performance or returns.
x. Grievance Redressal:
xi. Clients must keep their contact details (email and mobile) updated with the RA at all times.
xii. The RA shall never ask for clients’ login credentials or OTPs of their trading, demat, or bank accounts. Clients should never share such information.
13. Optional Centralised Fee Collection Mechanism (CeFCoM)
The RA shall guide clients regarding the optional Centralised Fee Collection Mechanism (CeFCoM) for payment of fees, managed by BSE Limited (RAASB).