TaxTMI 
TaxTMI 
Publishing Investor Charter and disclosure of Investor Complaints by Stock Brokers on their websites
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.... 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 etc. 3) Additionally, in order to bring about transparency in the Investor Grievance Redressal Mechanism, it has been decided that all the Stock Brokers shall 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. 4) These disclosure requirements are in addition to those already mandated by SEBI. The provisions of this circular shall come into effect from January 01, 2022. 5) Stock Exchanges are hereby directed to bring the provisions of this circular to the notice of the Stock Brokers. 6) This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of inves....
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....estrictions 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 S.No. 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 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 accoun....
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....hange 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 should be made in name of employee of stock broker. 6. Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed. 7. Do not opt for digital contracts, if not familiar with computers. 8. Do not share trading password. 9. Do not fall prey to fixed / guaranteed returns schemes. 10. Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits. 11. 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 30 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....
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....lic 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. 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....