SEBI Registered Research Analyst

Investor Charter

Your rights, our commitment. Understanding the framework that protects your investments and guides our responsibilities as a trusted financial partner.

Home Investor Charter
SECTION A

Vision and Mission Statements

  • Vision: Invest with knowledge and safety.
  • Mission: Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.
SECTION B

Details of Business Transacted

  • Publish research reports based on thorough research activities
  • Provide independent and unbiased views on securities
  • Offer recommendations disclosing financial interests
  • Conduct research based on publicly available information and known observations
  • Conduct annual audits for compliance
  • Ensure all advertisements adhere to SEBI Advertisement Code guidelines
  • Maintain detailed records of all client interactions including prospective clients
SECTION C

Details of Services Provided to Investors

Onboarding of Clients

  • Sharing comprehensive terms and conditions of research services
  • Completing KYC for all fee-paying clients

Disclosure to Clients

  • Disclose material information for informed decision-making, including business activities, disciplinary history, terms of service, details of associates, and any risks or conflicts of interest
  • Disclose extent of use of Artificial Intelligence tools in research services
  • Disclose any material conflicts of interest when distributing third-party research reports, or provide web address directing to relevant disclosures
  • Disclose any conflicts between research services and other activities

Commitments to Clients

  • Distribute research reports and recommendations without discrimination
  • Maintain confidentiality until public disclosure
  • Respect data privacy and protect confidential information from unauthorized use
  • Disclose and adhere to service timelines
  • Provide clear guidance and adequate caution for complex and high-risk products
  • Treat all clients with honesty and integrity
  • Ensure confidentiality of client information unless required by law or with specific client consent
SECTION D

Grievance Redressal Mechanism

Filing Complaints with Research Analyst

For any grievance, approach the concerned Research Analyst who shall strive to redress the complaint immediately, but not later than 21 days from receipt of grievance.

Filing on SCORES or with RAASB

SCORES 2.0

Web-based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in time-bound manner

https://scores.sebi.gov.in
  • Two-level review process: First review by designated body (Research Analyst Administration and Supervisory Body - RAASB), followed by second review by SEBI
  • Email complaints to designated email ID of RAASB

SMARTODR Platform

If not satisfied with the resolution provided, file complaints on SMARTODR platform for online conciliation or arbitration.

Physical Complaints Address

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

Whitestone Capital Office

Office No. 101, Gurukrupa Towers
Sahakar Nagar, Pune - 411009

SECTION E

Rights of Investors

Core Rights

  • 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 Fair and True Advertisement
  • Right to Service Parameters Awareness
  • Right to be informed of timelines for each service

Protection Rights

  • Right to be Heard and Satisfactory Grievance Redressal
  • Right to Timely Redressal
  • Right to Exit from financial products or services per agreed terms
  • Right to Clear Guidance on Complex and High-Risk Products
  • Right to Accessibility for vulnerable consumers and differently abled
  • Right to Provide Feedback on products and services
  • Right Against Coercive, unfair, and one-sided clauses
SECTION F

Expectations from Investors

As an informed investor, certain responsibilities help ensure a smooth and secure investment experience.

Do's

  • Always deal with SEBI registered Research Analysts
  • Ensure the Research Analyst has a valid registration certificate
  • Check SEBI registration number on official SEBI website
  • Pay attention to disclosures in research reports before investing
  • Make payments through banking channels only and maintain signed receipts
  • Use Centralized Fee Collection Mechanism (CeFCoM) of RAASB if available
  • Check research recommendations before buying or selling securities
  • Ask all relevant questions and clear doubts before acting on recommendations
  • Seek clarifications on complex and high-risk products
  • Be aware of your right to exit services per agreed terms
  • Know your right to provide feedback on services received
  • Understand you are not bound by clauses contravening regulatory provisions
  • Inform SEBI about Research Analysts offering assured or guaranteed returns

Don'ts

  • Don't provide funds for investment to the Research Analyst
  • Don't fall for assured or guaranteed returns promises
  • Don't fall prey to luring advertisements or market rumors
  • Don't get attracted to limited period discounts or incentive offers
  • Don't accept gifts from Research Analysts
  • Don't share login credentials or passwords of trading, demat or bank accounts
  • Don't ignore regulatory warnings and alerts
  • Don't engage with unregistered advisors or analysts