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TMI BlogInvestor Charter for Stock BrokersX X X X Extracts X X X X X X X X Extracts X X X X ..... ing 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. 5. Additionally, in order to ensure transparency in the Investor Grievance Redressal Mechanism, all the Stock Brokers shall continue to disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof, latest by 7th of succeeding month, as per the format enclosed at Annexure 'B' to this circular. 6. The provisions of this circular shall come into force with immediate effect. 7. With the issuance of this circular, SEBI, Circular. SEBI/HO/MIRSD/DOP/P/CIR/2021/676 dated December 02, 2021 stands rescinded and Clause 75 of Master Circular for Stock Brokers dated August 09, 2024 stands amended as per this circular. 8. Stock Exchanges are hereby directed to bring the provisions of this circular to the notice of the stock brokers. 9. This circular is issued in exercise o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n about the firm itself (including website providing mandatory information). II. Receive complete information about the risks, obligations, and costs of any investment before investing. III. Receive a copy of all completed account forms and rights & obligation document. IV. Receive a copy of 'Most Important Terms & Conditions' (MITC). V. Receive account statements that are accurate and understandable. VI. Understand the terms and conditions of transactions you undertake. VII. Access your funds in a prescribed manner and receive information about any restrictions or limitations on access. VIII. Receive complete information about maintenance or service charges, transaction or redemption fees, and penalties in form of tariff sheet. IX. Discuss your grievances with compliance officer / compliance team / dedicated grievance redressal team of the firm and receive prompt attention to and fair consideration of your concerns. X. Close your zero balance accounts online with minimal documentation XI. Get the copies of all policies (including Most Important Terms and Conditions) of the broker related to dealings of your account XII. Not be discriminated against in terms o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stors DOs DON'Ts 1. Read all documents and conditions being agreed before signing the account opening form. 2. Receive a copy of KYC, copy of account opening documents and Unique Client Code. 3. Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes. 4. Receive all information about brokerage, fees and other charges levied. 5. Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions. 6. If executed, receive a copy of Demat Debit and Pledge Instruction (DDPI) However, DDPI is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting DDPI, carefully examine the scope and implications of powers being granted. 7. Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT/CTT etc. as applicable, separately, within 24 hours of execution of trades. 8. Receive funds and securities/ commodities on time, as prescribed by SEBI or exchange from time to time. 9. Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... * First review done by Designated body/Exchange * Second review done by SEBI ii. Emails to designated email IDs of Exchange 2. Online Dispute Resolution (ODR) platform for online Conciliation and Arbitration If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through online conciliation or arbitration. 3. Steps to be followed in ODR for Review, Conciliation and Arbitration 1. Investor to approach Market Participant for redressal of complaint 2. If investor is not satisfied with response of Market Participant, he/she has either of the following 2 options: i. May escalate the complaint on SEBI SCORES portal. ii. May also file a complaint on SMARTODR portal for its resolution through online conciliation and arbitration. 3. Upon receipt of complaint on SMARTODR portal, the relevant MII will review the matter and endeavor to resolve the matter between the Market Participant and investor within 21 days. 4. If the matter could not be amicably resolved, then the matter shall be referred for conciliation. 5. During ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 resolution time is the sum total of time taken to resolve each complaint in the current month divided by total number of complaints resolved in the current month. Trend of annual disposa ..... 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