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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI - SEBI/HO/MIRSD/DOP/P/CIR/2021/676

Extract

..... ities of Stock Brokers with timelines, DOs and DON’Ts for Investors and Grievance Redressal Mechanism which is placed at Annexure ‘A’. 2) In this regard, Stock Exchanges are directed to advise Stock Brokers to bring the Investor Charter for Stock Brokers to the notice of their clients (existing as well as new clients) through disclosing the Investor Charter on their respective websites, making them available at prominent places in the office, provide a copy of Investor Charter as a part of account opening kit to the clients, through e-mails/ letters etc. 3) Additionally, in order to bring about transparency in the Investor Grievance Redressal Mechanism, it has been decided that all the Stock Brokers shall disclose on their .....

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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI

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..... g service. Services provided to Investors 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. Settlement of client’s funds. Intimation of securities held in Client Unpaid Securities Account (CUSA) Account. Issuance of retention statement of funds. 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. exchange circulars. Redressal of Investor’s grievances. Rights of Investors Ask for and receive information from a firm about the work history and background of the per .....

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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI

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..... argin due payments At the end of the T day 9. Settlement of client funds 30 days / 90 days for running account settlement (RAS) as per the preference of client. If consent not given for RAS - within 24 hours of pay-out 10. ‘Statement of Accounts’ for Funds, Securities and Commodities Weekly basis (Within four trading days of following week) 11. Issuance of retention statement of funds/commodities 5 days from the date of settlement 12. Issuance of Annual Global Statement 30 days from the end of the financial year 13. Investor grievances redressal 30 days from the receipt of the complaint DOs and DON’Ts for Investors DOs DON’Ts 1. Read all documents and conditions being agreed before signing the account opening form. 2 .....

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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI

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..... tered stock broker. 2. Do not forget to strike off blanks in your account opening and KYC. 3. Do not submit an incomplete account opening and KYC form. 4. Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system. 5. 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. 6. Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed. 7. Do not opt for digital contracts, if not familiar with computers. 8. Do not share trading password. 9. Do not fall prey to fixed / guaranteed returns schemes. 10. Do .....

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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI

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..... e investor, debit the funds of the stock broker. Order for debit is issued immediately or as per the directions given in GRC order. 9. In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration Within 7 days from receipt of order 10. If intention from stock broker is received and the GRC order amount is upto ₹ 20 lakhs Investor is eligible for interim relief from Investor Protection Fund (IPF).The interim relief will be 50% of the GRC order amount or ₹ 2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor. 11. Stock Broker shall file for arbitration Within 6 months from the date of GRC recommendation 12. In case the stock broker does not fi .....

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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI

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..... ing SN Received from Carried forward from previous month Received during the month Total Pending Resolved* Pending at the end of the month** Average Resolution time^ (in days) Pending for less than 3 months Pending for more than 3 months 1 2 3 4 5 6 7 8 1 Directly from Investors 2 SEBI (SCORES) 3 Stock Exchanges 4 Other Sources (if any) 5 Grand Total Trend of monthly disposal of complaints SN Month Carried forward from previous month Received Resolved* Pending** 1 2 3 4 5 6 1 April -YYYY 2 May-YYYY 3 June-YYYY 4 July-YYYY …. ….. March-YYYY Grand Total *Should include complaints of previous months resolved in the current month, if any. **Should include total complaints pending as on the last day of the month, if any. ^Average r .....

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Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites - SEBI

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