Investor Charter
Vision
To follow the highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute to the creation of wealth for investors
Mission
- To provide high-quality and dependable service through innovation, capacity enhancement and use of technology.
- To establish and maintain a relationship of trust and ethics with the investors.
- To observe the highest standard of compliance and transparency.
- To always keep ‘protection of investors’ interest’ as a goal while providing service.
Services Provided to Investors
- Technology infrastructure and system for execution of transactions and orders.
- Technology infrastructure and system to disseminate information pertaining to transactions on a real-time or a near real-time basis including issuance of Order Receipt and Deal Sheet
- Issuance of intimations regarding pending/due payments
- Information/Data display by making information available regarding, but not limited to Price, yield, face value, quantity, coupon, date of maturity, put/call option, copies of the prospectus/ offer documents or any other related literature or such other information.
- Risk management systems to mitigate operational risk.
- Facilitate client profile changes in the system as instructed by the client.
- Information sharing with the client w.r.t. exchange circulars.
- Redressal of Investor’s grievances.
Rights of Investors
- Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.
- Receive complete information about the risks, obligations, and costs of any investment before investing.
- Receive recommendations consistent with your financial needs and investment objectives.
- Receive a copy of all completed account forms and agreements
- Receive account statements that are accurate and understandable
- Understand the terms and conditions of transactions you undertake.
- Receive complete information about maintenance or service charges,transaction or redemption fees, penalties etc.
- Discuss your grievances with the compliance officer of the firm and receive prompt attention to and fair consideration of your concerns.
Various activities of online bond platform with timelines
| Sr 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 Order Receipt | Upon placement of an order |
| 7 | Issuance of Deal Sheet | Upon execution of the order |
| 8 | Issuance of contract notes | 24 hours of execution of trades |
| 9 | Issuance of Annual Global Statement | 30 days from the end of the financial year |
| 10 | Investor grievances redressal | 30 days from the receipt of the complaint |
DOs and DON’Ts for Investors
| Sr No | DO's | DON'Ts |
| 1 | Read all documents and conditions being agreed before signing the account opening form. | Do not deal with unregistered stock broker. |
| 2 | Receive a copy of KYC, copy of account opening documents and Unique Client Code. | Do not forget to strike off blanks in your account opening and KYC. |
| 3 | Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes. | Do not submit an incomplete account opening and KYC form. |
| 4 | Receive all information about brokerage, fees and other charges levied. | Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system. |
| 5 | Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions. | 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 | If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI/Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted. | 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 | Receive Order Receipt of order placed, and Deal Sheet for order executed, showing date and time of order, details of counter-parties involved, quantity and transaction price, brokerage etc. | Do not opt for digital contracts, if not familiar with computers. |
| 8 | Verify details of trades, Deal Sheet and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges. | Do not share trading password. |
| 9 | Receive statement of accounts periodically. | Do not fall prey to fixed / guaranteed returns schemes. |
| 10 | In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines | 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 Online Bond Platform at the designated Investor Grievance e-mail ID of the Online Bond Platform. The Online Bond Platform 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.
- Level 3 – The complaint not redressed at Online Bond Platform / 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
- Level 4 – After exhausting above mentioned options for resolution of the grievance (i.e. at the Stock-Broker level (Level 1) and escalation made to SEBI SCORES (Level 3)) to his/her/its satisfaction, investor/client can initiate dispute resolution through the SMART ODR Portal https://smartodr.in/login
Alternatively, the investor/client can initiate dispute resolution through the ODR Portal @ https://smartodr.in/login if the grievance lodged with the Stock Broker was not satisfactorily resolved or at any stage of the subsequent escalations mentioned in the Level 3 above (prior to or at the end of such escalation/s).
Complaints Resolution Process at Stock Exchange explained graphically:
Timelines for complaint resolution process at Stock Exchanges against Online Bond Platform
| Sr No | Type of Activity | Timelines of Activity |
| 1 | Receipt of Complaint | Day of complaint (C Day). |
| 2 | Additional information sought from the investor, if any, and provisionally forwarded to stock broker | C + 7 Working days |
| 3 | Registration of the complaint and forwarding to the stock broker | C+8 Working Days i.e. T day |
| 4 | Amicable 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 Broker is received and the GRC order amount is upto Rs.20 lakhs | Investor is eligible for interim relief from Investor Protection Fund (IPF). The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor |
| 11 | Stock Broker shall file for arbitration | Within 3 months from the date of GRC recommendation |
| 12 | In case the stock broker does not file for arbitration within 3 months | The GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any. |
Handling of Investor’s claims / complaints in case of default of a Trading Member / Clearing Member (TM/CM)
Default of TM/CM
Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:
- Circular is issued to inform about declaration of Stock Broker as Defaulter.
- Information of defaulter stock broker is disseminated on Stock Exchange website.
- Public 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.
