INVESTOR GRIEVANCES

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Stock Broker Investor Charter

Srno	Content	Downloads
1	Stock Broker Investor Charter

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.

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.

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 person handling your account, as well as information about the firm itself.

Receive complete information about the risks, obligations, and costs of any investment before investing.

Receive recommendations consistent with your financial needs and investment objectives.

Receive a copy of all completed account forms and agreements.

Receive account statements that are accurate and understandable.

Understand the terms and conditions of transactions you undertake.

Access your funds in a timely 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.

Discuss your grievances with compliance officer of the firm and receive prompt attention to and fair consideration of your concerns

Various activities of Stock Brokers with timelines
SNo	Activities	Expected Timelines
1	KYC entered into KRA System and CKYCR	10 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 clients	7 days from the date of upload of UniqueClient Code to the Exchange by thetrading member
6	Issuance of contract notes	24 hours of execution of trades
7	Collection of upfront margin from client	Before initiation of trade
8	Issuance of intimations regarding other margin 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 24hours of pay-out
10	‘Statement of Accounts’ for Funds, Securities and Commodities	Weekly basis (Within four trading days offollowing 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	21 days from the receipt of the complaint

DOs and DON’Ts for Investors
SNo	DOs	DON’Ts
1	Read all documents and conditions being agreed before signing the account opening form.	Do not deal with unregistered stock broker.
2	Receive a copy of KYC, copy of account opening documents and Unique Client Code.	Do not forget to strike off blanks in your account opening and KYC.
3	Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes.	Do not submit an incomplete account opening and KYC form.
4	Receive all information about brokerage, fees and other charges levied.	Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system.
5	Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions.	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	If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted.	Do not ignore any emails / SMSs received with regardsto trades done, from the Stock Exchange and raise a concern, if discrepancy is observed.
7	Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT etc. as applicable, separately, within 24 hours of execution of trades.	Do not opt for digital contracts, if not familiar with computers.
8	Receive funds and securities / commodities on time within 24 hours from pay-out.	Do not share trading password.
9	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.	Do not fall prey to fixed / guaranteed returns schemes.
10	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 (30 or 90 days).	Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits.
11	In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines.	Do not follow herd mentality for investments. Seek expert and professional advice for your investments.

Grievance Redressal Mechanism

Level 1 – 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

Level 2 – Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange. Complaints Resolution Process at Stock Exchange explained graphically:

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.