Investor Charter for Registrars to an Issue and Share Transfer Agents (RTAs)
Summary
This circular modifies the Investor Charter for Registrars to an Issue and Share Transfer Agents (RTAs) to enhance financial consumer protection. It mandates RTAs to disseminate the updated charter to shareholders via websites, email, and office displays. Additionally, it requires RTAs to disclose monthly grievance redressal data on their websites in a specified format. This section outlines specific dos and don'ts for investors regarding folio maintenance, KYC updates, and security precautions. It details the grievance redressal mechanism, including escalation to SEBI SCORES 2.0 and online dispute resolution platforms like SMARTODR. Finally, it prescribes the format and frequency for RTAs to disclose complaint data on their websites.
Text
it has been decided to modify the investor charter for RTAs
all the registered RTAs shall take necessary steps to bring the Investor Charter to the notice of existing and new shareholders by way of disseminating the Investor Charter on their websites/through e-mail; displaying the Investor charter at prominent places in offices etc.
The Registrar Association of India (RAIN) shall also disseminate the Investor Charter on its website
all the registered RTAs shall continue to 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’
The provisions of this circular shall come into force with immediate effect
With the issuance of this circular, SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/670 dated November 26, 2021 stands rescinded and Clause 29 of Master Circular for RTAs dated May 07, 2024 stands amended as per this circular
This circular is issued in exercise of powers conferred under Section 11(1) of Chapter IV of the Securities and Exchange Board of India Act, 1992 read with Regulation 15D of the SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993
Encash dividend/Interest regularly... Follow up diligently... Ensure that your PAN is registered... Ensure nomination is registered... Ensure that all KYC details viz., full postal address with PIN, mobile number, e-mail address etc. are updated... Ensure correct and complete Bank details are recorded... Promptly inform the RTA in writing... Ensure that the documents provided... are complete... Monitor all corporate announcements...
Do not keep your folios without PAN... Do not keep your folios without nomination... Do not deal with unauthorized persons... Do not share security details, viz., folio number, certificate number, distinctive number(s), bank details, specimen signature, KYC documents, etc. with unknown person(s).
Investor can approach the Listed Company/RTA at the designated Investor Grievance e-mail ID... The Listed Company/RTA will strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance
SCORES 2.0 (a web based centralized grievance redressal system of SEBI)... Two level review for complaint/grievance against RTA: First review done by Designated body/Exchange; Second review done by SEBI
If the Investor is not satisfied with the resolution provided by the Market Participants, the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through online conciliation or arbitration.
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Source: SecMarx — Investor Charter for Registrars to an Issue and Share Transfer Agents (RTAs). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.