Investor Charter

Vision, services, investor rights and responsibilities, per SEBI's Investor Charter for RAs.

Last updated 05 Aug 2026

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Vision & mission

Vision
Invest with knowledge & safety.

Mission
Every investor should be able to invest in the right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

Business transacted with investors

To publish research reports based on the research activities of the RA and to provide an independent, unbiased view on securities.
To offer unbiased recommendations, disclosing financial interests in recommended securities.
To provide research recommendations based on analysis of publicly available information and known observations.
To conduct an audit annually.
To ensure that all advertisements adhere to the provisions of the Advertisement Code for Research Analysts.
To maintain records of interactions with all clients, including prospective clients (prior to onboarding), where any conversation related to research services has taken place.

Services provided to investors

Onboarding of clients

Sharing the terms and conditions of research services.
Completing KYC of fee-paying clients.

Disclosure to clients

To disclose information that is material for the client to make an informed decision, including details of business activity, disciplinary history, terms and conditions of research services, details of associates, and risks and conflicts of interest, if any.
To disclose the extent of use of Artificial Intelligence tools in providing research services.
To disclose, while distributing a third-party research report, any material conflict of interest of such third-party research provider, or to provide a web address directing the recipient to the relevant disclosures.
To disclose any conflict of interest of the research services with other activities of the research analyst.
To distribute research reports and recommendations to clients without discrimination.
To maintain confidentiality regarding publication of the research report until it is made available in the public domain.
To respect the data-privacy rights of clients and take measures to protect against unauthorised use of confidential information.
To disclose the timelines for the services provided and ensure adherence to them.
To provide clear guidance and adequate caution notices to clients when recommending complex and high-risk financial products/services, and to treat all clients with honesty and integrity.
To ensure confidentiality of information shared by clients unless disclosure is required to discharge legal obligations or the client has given specific consent.

Grievance redressal mechanism

In case of any grievance/complaint, an investor may approach the concerned Research Analyst, who shall strive to redress the grievance immediately, but not later than 21 days of receipt.

Complaints may also be filed on SCORES 2.0 (https://scores.sebi.gov.in/), SEBI's web-based centralised grievance redressal system. There is a two-level review — first by the designated body (RAASB), then by SEBI. If not satisfied, the investor may use the SMART ODR platform (https://smartodr.in/login) for online conciliation or arbitration.

Physical complaints may be sent to: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051.

Rights of investors

Right to Privacy and Confidentiality
Right to Transparent Practices
Right to Fair and Equitable Treatment
Right to Adequate Information
Right to Initial and Continuing Disclosure
Right to receive statutory and regulatory information
Right to Fair & True Advertisement
Right to Awareness about Service Parameters and Turnaround Times
Right to be informed of service timelines
Right to be Heard and for Satisfactory Grievance Redressal
Right to Timely Redressal
Right to Exit financial products/services per agreed terms
Right to Clear Guidance on High-Risk Products
Additional rights for vulnerable consumers
Right to accessible services for differently-abled individuals
Right to provide feedback
Right against coercive/unfair/one-sided clauses in financial agreements

Investor responsibilities

Do’s

Always deal with SEBI-registered Research Analysts.
Ensure the Research Analyst has a valid SEBI registration.
Refer to the list of all SEBI-registered Research Analysts on the SEBI website.
Always pay attention to disclosures made in research reports before investing.
Pay your Research Analyst through banking channels only and keep duly signed receipts. You may pay through the Centralized Fee Collection Mechanism (CeFCoM) of RAASB if the RA has opted for it (fee-paying clients only).
Before buying/selling securities or applying in a public offer, check the research recommendation.
Ask all relevant questions and clear your doubts before acting on a recommendation.
Seek clarifications and guidance, especially for complex and high-risk products and services.
Be aware that you have the right to stop availing the service as per the agreed terms.
Be aware that you have the right to provide feedback on the services received.
Be aware that you will not be bound by any clause that contravenes any regulatory provision.
Inform SEBI about any Research Analyst offering assured or guaranteed returns.

Don’ts

Do not provide funds for investment to the Research Analyst.
Do not fall prey to luring advertisements or market rumours.
Do not get attracted to limited-period discounts or other incentives, gifts, etc.
Do not share login credentials and passwords of your trading, demat or bank accounts with the Research Analyst.