Investor Charter of a SEBI Registered Research Analyst
This document outlines the vision, mission, key activities, services, grievance redressal mechanism, rights of investors and expectations for investors engaging with SEBI registered Research Analysts. It provides a comprehensive guide for investors to understand their rights, responsibilities, and the standards of service they can expect from Research Analysts in the securities market.
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by RA ALOK DAIYA SEBI Reg. INH000011468, BSE Enlistment No. 5737
Vision and Mission for Investors
Vision
Empowering investors with knowledge, safety and security in their financial decisions.
Mission
We aim to guide all investors to choose the most suitable investment plan aligned with their Objectives, Risk Appetite, Nature, Needs, Manage and track their portfolio effectively to achieve their goals, provide necessary reporting, and promote their overall financial wellness.
Key Business Activities of Research Analysts
1
Publishing Research Reports
Conducting thorough research and analysis to produce comprehensive reports.
2
Offering Unbiased Perspectives
Providing independent and objective views on securities to investors.
3
Making Uninfluenced Recommendations
Offering recommendations free from financial stakes, while disclosing any relevant interests in recommended securities.
4
Research-Based Suggestions
Providing suggestions based on examination of publicly available data and known facts.
5
Carrying Out Annual Audit
To ensure processes and practices adhere to standards.
6
Ensure adherence to provisions
To ensure that all advertisements/ marketing/ promotional material are in adherence to the provisions of the Advertisement Code for Research Analysts.
7
Maintain Records of Research based Interactions
To maintain records of interactions, with all clients including prospective clients (prior to onboarding), where any conversation related to the research services has taken place.
Services Provided to Investors
1
Onboarding of New Clients
Initiating the process to bring new investors on board, sharing of Terms & Conditions of research services.
2
Providing Necessary Disclosures
To disclose, information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflicts of interest, if any.
3
Disclose the use of AI
To disclose the extent of use of Artificial Intelligence tools in providing research services
4
Equitable Distribution of Research
Distributing research reports and call recommendations to all clients simultaneously without preferential treatment.
5
Disclose any Third Party Report
To disclose, while distributing a third party research report, any material conflict of interest of such third party research provider or provide web address that directs a recipient to the relevant disclosures or with other activities of the research analyst.
6
Maintaining Confidentiality
Preserving the confidentiality of research report content and calls until public release.
7
Respect Data Privacy Rights of Clients
To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information
8
Disclose Timeline of Services
To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines
9
Provide Clear Guidance
To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services
10
Ensure Confidentiality
To ensure confidentiality of information shared by investors unless such information is required to be provided in furtherance of discharging legal obligations or investors have provided specific consent to share such information.
11
Provide Unbiased Treatment
To treat all clients with honesty and integrity, and ensure confidentiality of information shared by investors unless such information is required to be provided in furtherance of discharging legal obligations or investors have provided specific consent to share such information.
Grievance Redressal Mechanism
Investor can lodge complaint/grievance against Research Analyst in the following ways:
Mode of filing the complaint with research analyst
In case an investor has any grievance or complaint, they should first contact the concerned research analyst directly to get it resolved within 21 days.
If the complaint is not adequately addressed, the investor can submit their grievance on the SCORES portal of SEBI.
Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)
If the complaint is not adequately addressed, the investor can submit their grievance on the SCORES portal of SEBI.
Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)
- SCORES 2.0 (a 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 for complaint/grievance against Research Analyst:
- First review done by designated body (RAASB)
- Second review done by SEBI
- Email to designated email ID of RAASB
- 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.
With regard to physical complaints, investors may send their complaints to:
For physical complaints, investors can write 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 information about all the statutory and regulatory disclosures
Right to Fair & True Advertisement
Right to Awareness about Service Parameters and Turnaround Times
Right to be informed of the timelines for each service
Right to be Heard and Satisfactory Grievance Redressal
Right to have timely redressal
Right to Exit from Financial product or service
Right to receive clear guidance and caution notice when dealing in Complex and High-Risk Financial Products and Services
Additional Rights to vulnerable consumers
Right to get access to services in a suitable manner even if differently abled
Right to provide feedback on the financial products and services used
Right against coercive, unfair, and one-sided clauses in financial agreements
Right to enforceability and holding the Research Analyst responsible for monitoring, enforcing investor rights.
Expectations from Investors (Do's)
Engage with Registered Analysts
Only engage with SEBI registered Research Analysts. Verify the Research Analyst has a valid registration certificate and check the SEBI registration number via the following link: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14
Review Disclosures
Review disclosures made in research reports before investing. Check research recommendations before buying securities or applying in public offers.
Proper Payment Practices
Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through Centralized Fee Collection Mechanism (CeFCoM) of RAASB if research analyst has opted for the mechanism.
Seek Clarification
Seek clarification from your Research Analyst before acting on recommendations. Inform SEBI if promised assured or guaranteed returns.
Right to Provide Feedback
Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received.
Availing of Service
Always be aware that you have the right to stop availing the service of a Research Analyst as per the terms of service agreed between you and your Research Analyst.
Expectations from Investors (Don'ts)
- Do not provide funds for investment to the Research Analyst.
- Avoid luring ads or market rumors.
- Do not get enticed by limited period incentives, gifts etc. offered by the Research Analyst.
- Never share your trading and demat account credentials with the Research Analyst.
The key responsibilities of an investor/trader includes: verifying SEBI registration, reviewing disclosures, seeking clarification on recommendations, reporting misconduct and avoiding risky practices like sharing account credentials.
Important Contacts and Disclosures
For any query or grievance, you can reach us out on raalokdaiya@gmail.com
Registered RA's Address: 18, Brojodulal Street, Kolkata - 700006 West Bengal, India
Support team email: raalokdaiya@gmail.com
SCORES mobile application links:
This Research firm is headed by Mr. Alok Daiya, a Resource Person of NiSM with over 22 Years of experience in the Financial Industry. SEBI registration number: INH000011468
Disclosure
- Mandatory Disclosure in Research Reports under RA Regulations
ABOUT THE FIRM :- This is a Research firm headed by Mr. Alok Daiya, a Resource Person of NiSM (an educational initiative of SEBI) with an experience of over 22 Years in the Financial Industry. Our registered office is located at 18 Brojodulal Street, Kolkata - 700006 West Bengal, India. After years of teaching and practicing Research, we had got registered with the Securities and Exchange Board of India (SEBI) under the registration number INH000011468 on February 20th, 2023 (BSE Enlistment No. 5737). So, being a SEBI-registered Research Analyst, we now provide our research services to the clients.
Details of Business Activities :- We offer research recommendations on Equity Stocks, Stock Options (Futures & Options), and Index Options (Nifty, BankNifty, FinNifty) on the basis of Technical Analysis.
Disciplinary History :- There are no pending litigation cases or disciplinary actions recorded against the Research Analyst.
Terms and Conditions based on which Research Report is issued :- We have made reasonable efforts to verify the accuracy and authenticity of the current and historical information in this document, but do not guarantee a complete accuracy or completeness. The opinions stated are based on our research as of this date and may change without notice. We do not accept any liability arising from the use of this document or the information herein. Readers should exercise their own judgment and seek professional advice before acting on this information. We will not be responsible for any loss or harm that may inadvertently arise due to any errors or opinions expressed here.
We do not have any financial stake, ownership exceeding 1%, or other material conflicts of interest in the company covered in this report.
We are not affiliated with or have not received any third party brokerage or commissions.
We have not been compensated by the company covered in this report in the past 12 months.
We have not managed or co-managed any public offerings for the company in the past 12 months.
The Firm does not serve as an officer, director, or employee of the Company, and has not engaged in any of the market making activities involving the Company's stock.
The Firm has made efforts to source accurate facts presented in the research report from reliable sources and information. However, the investors are advised to independently assess the market conditions and potential investment risks before deciding to invest.
Reliable Sources and Clear Terminology: The Firm must source factual information in research reports from dependable sources. Additionally, the terms used to provide research recommendations should be clearly defined to eliminate ambiguity. Defined terms should be applied consistently throughout the research report. The Firm should thoroughly document and retain records of the sources used to compile research reports.
Rating System Details: If the Firm utilizes a rating system, it must provide clear explanations of each rating along with the applicable time horizon and benchmarks used to determine the ratings.
Price Target Timeframes: If a research report includes a price target or rating for a subject company's securities for at least one year, then the report must also display a graph of the daily closing prices of those securities over the past three years or the timeframe assigned to the price target or rating, whichever is shorter.
Third-Party Research Distribution: If distributing third-party research reports, the Firm should: a) review the reports to ensure any false or misleading information, b) disclose any material conflicts of interest of the third-party providers or include a link to such disclosures.
Signed and Dated Reports: Research reports should be officially signed and dated. Reports should be retained in physical or electronic form for 5 years. Electronically stored reports should be duly signed.
DISCLOSURE:
We are a SEBI registered research analyst firm (Registration No. INH000011468; BSE Enlistment No. 5737) valid from Feb 20, 2023 - Perpetual
We are independent and do not receive any brokerage or commissions from third parties.
SEBI has not issued any penalties or directions against us under the SEBI Act or any other regulatory body.
We do not recommend stock brokers or other intermediaries to clients, nor do we receive any form of remuneration from them.
If a client requests an opinion on specific personal positions, we can suggest appropriate perspectives but these should not be considered formal advice. We advise clients to use their own judgement for final decisions and we are not liable for subsequent losses.
We may have personal holdings in some financial products or securities we provide opinions on.
We have no associations with issuers of securities which ensures no conflicts of interest or compromise in objectivity/independence of our services.
Investing carries inherent market risk, and while we make best efforts at prediction, no returns or accuracy are guaranteed.
Clients should read, understand and agree to terms, conditions and disclaimers prior to services.
We do not guarantee profits or returns.
We do not offer profit/loss sharing, guaranteed profits or Demat services.
DISCLOSURES WITH ADVICE:
The analyst may have a holding or position in the securities recommended herein.
The analyst has no connection or association of any sort with any issuer of products / securities recommended herein.
The analyst has no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/ securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of recommendation services.
The analyst has not received any kind of remuneration or consideration form the products/ securities recommended herein. GRIEVANCE REDRESSAL Dear Valued Customer,
We are committed to providing exceptional customer service and addressing any grievances promptly. Please follow this process for resolutions:
Step 1: Email at raalokdaiya@gmail.com or call +91 9331111888 with your concerns. We guarantee a solution within 21 business days.
Step 2: If the issue remains unresolved after 30 days, visit the SEBI SCORES site or app to file an official complaint against our registered intermediary.
SCORES enables investors to submit grievances to SEBI to then monitor the status.
If still unsatisfied with the analyst’s response, escalate your complaint to SEBI directly at http://scores.sebi.gov.in or by writing to any SEBI office.
For queries, feedback or help, contact SEBI’s Toll Free Helpline at 1800 22 7575 / 1800 266 7575.
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ADVERTISEMENT DISCLAIMER: The Services are being provided under the SEBI Research Analyst License Number INH000011468 - Alok Daiya
STANDARD DISCLAIMER:
Investing in securities markets involves risks.
Read all documents carefully before investing. SEBI registration and NISM certification do not guarantee intermediary performance or assure investor returns.
We do not promise risk-free returns. We charge fixed fees, not profit-sharing. We are not responsible for client financial losses.
Assess your risk tolerance, risk appetite and cash position before following group content.
Stock market investments are VERY RISKY and being part of this group, you agree that you understand the Market risks involved. *Profits and Losses are part of Share market.
Kindly understand and act wisely. All members please follow guidelines as applicable even in past too.
Anyone who is not agreeable to these conditions must Leave the group/community.