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TMI BlogPublishing of Investor Charter and disclosure of Investor Complaints by Portfolio Managers on their websitesX X X X Extracts X X X X X X X X Extracts X X X X ..... clients the Investor Charter by prominently displaying on their websites. 3. Additionally, in order to enhance transparency in the Investor Grievance Redressal Mechanism, all Portfolio Managers on a monthly basis shall disclose on their websites, the data pertaining to all complaints including SCORES complaints received by them in the format mentioned in Annexure-B . The information shall be made available by 07th of the succeeding month. 4. Further, the Portfolio Managers are advised to display link/option on their websites and mobile apps so as to enable their clients to lodge complaint with them directly. Additionally, link to SCORES website/ link to download mobile app (SEBI SCORES) may also be provided by the Portfolio Managers on their website. 5. The provisions of this circular shall come into effect from January 01, 2022 . 6. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 43 of the SEBI (Portfolio Managers) Regulations, 2020 , to protect the interests of investors in securities market and to promote the development of, and to regulate the secur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Under these services, the Client is advised on buy/sell decision within the overall profile without any back-office responsibility for trade execution, custody of securities or accounting functions. The PMS provider shall be solely acting as an Advisor to the Client and shall not be responsible for the investment/divestment of securities and/or administrative activities on the client s portfolio. The PMS provider shall act in a fiduciary capacity towards its Client and shall maintain arm s length relationship with its other activities. The PMS provider shall provide advisory services in accordance with guidelines and/or directives issued by the regulatory authorities and/or the Client from time to time in this regard. iii. Client On-boarding a. Ensuring compliance with KYC and AML guidelines. b. franking signing the Power of Attorney to make investment decisions on behalf of the investor. c. opening demat account and funding of the same from the investor s verified bank account and/or transfer of securities from verified demat account of the investor and d. Mapping the said demat account with Custodian. iv. Ongoing activities a. To provide ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from receipt of requisite nominee modification form, subject to review of the documents for accuracy and completeness by portfolio manager and allied third party service providers as may be applicable. 6 Uploading of PMS account in KRA and CKYC database. 10 days from date of account opening (Portfolio Manager may rely on the custodian for updating the same). 7 Whether portfolio manager is registered with SEBI, then SEBI registration number. At the time of client signing the agreement; this information should be a part of the account opening form and disclosure document. 8 Disclosure about latest networth of portfolio manager and total AUM. Disclosure of portfolio manager's total AUM - monthly to SEBI Disclosure of latest networth should be done in the disclosure document whenever there are any material changes. 9 Intimation of type of PMS account discretionary. At the time of client signing the agreement; this information should be a part of the acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Frequency of providing audited reports to clients Annual. 22 Explanation of risks involved in investment. At the time of client signing the agreement; this information should be a part of the account opening form. 23 Intimation of tenure of portfolio investments. Indicative tenure should be disclosed at the time of client signing the agreement; this information should be a part of the account opening form. 24 Intimation clearly providing restrictions imposed by the investor on portfolio manager. Negative list of securities should be taken from the client at the time of client signing the agreement; this information should be a part of the account opening form. 25 Intimation regarding settling of client funds and securities. Settlement of funds and securities is done by the Custodian. The details of clients funds and securities should be sent to the clients in the prescribed format not later than on a quarterly basis. 26 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omplex, Bandra (E), Mumbai - 400 051. E. Expectations from the investors (Responsibilities of investors) 1. Check registration status of the intermediary from SEBI website before availing services. 2. Submission of KYC documents and application form in a timely manner with signatures in appropriate places and with requisite supporting documents. 3. Read carefully terms and conditions of the agreement before signing the same. 4. Thorough study of the Disclosure Documents of the PMS to accurately understand the risks entailed by the said investment in PMS. 5. Accurate and sincere answers given to the questions asked in the Risk Questionnaire shall help the PMS provider properly assess the risk profile of the investor. 6. Thorough study of the quarterly statements sent by the PMS provider to the investor intimating him about the portfolio s absolute and relative performance, its constituents and its risk profile. 7. Ensure providing complete details of negative list of securities as part of freeze instructions at the time of entering into PMS agreement and every time thereafter for changes, if any, in a timely manner. 8. To update the PMS prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Grand Total *Inclusive of complaints of previous months resolved in the current month. #Inclusive of complaints pending as on the last day of the month. Trend of annual disposal of complaints SN Year Carried forward from previous year Received Resolved** Pending## 1 2018-19 2 2019-20 3 2020-21 Grand Total ** Inclusive of complaints of previous years resolved in the current year. ## Inclusive of complaints pending as on the last day of the year. - Circular - Trade Notice - Public Notice - Instructions - Of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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