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TMI BlogPublishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websitesX X X X Extracts X X X X X X X X Extracts X X X X ..... , in consultation with the market participants, has prepared an Investor Charter for Stock Brokers inter-alia detailing the services provided to Investors, Rights of Investors, various activities 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 et ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd ethics with the investors. iii) To observe highest standard of compliances and transparency. iv) 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Registration Documents to clients 7 days from the date of upload of Unique Client Code to the Exchange by the trading 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 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 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). 11. In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines. 1. Do not deal with unregistered 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 s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cable Resolution. T+15 Working Days. 5. Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution. T+16 Working Days. 6. Complete resolution process post GRC. T + 30 Working Days. 7. In case where the GRC Member requires additional information, GRC order shall be completed within. T + 45 Working Days. 8. Implementation of GRC Order. On receipt of GRC Order, if the order is in favour of the 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 bro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ker. * FAQ on processing of investors' claims against Defaulter stock broker. * Provision to check online status of client's claim. Level 3 - The complaint not redressed at Stock Broker / Stock Exchange level, may be lodged with SEBI on SCORES (a web based centralized grievance redressal system of SEBI) @ https://scores.gov.in/scores/Welcome.html Annexure - B Format for Investor Complaints Data to be displayed by Stock Brokers on their respective websites Data for every month ending 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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