Publishing of Investor Charter and disclosure of Investor Complaints by Investment Advisers on their websites/mobile applications
Summary
SEBI mandates all registered Investment Advisers to prominently display the Investor Charter on their websites and mobile applications. Investment Advisers are required to disclose monthly investor complaint details by the 7th of the succeeding month in a specified format. The circular also requires providing direct links for lodging complaints with the adviser or via SEBI's SCORES portal.
Text
All registered Investment Advisers are advised to bring to the notice of their clients the Investor Charter as provided at Annexure- A by prominently displaying on their websites and mobile applications. Investment Advisers not having websites/mobile applications shall, as a one-time measure, send Investor Charter to the investors on their registered e-mail address.
In order to further enhance transparency in grievance redressal, the Investment Advisers shall disclose the details of investor complaints by 7 th of the succeeding month in the revised format as per Annexure –B on a monthly basis. Investment Advisers not having websites/mobile applications shall send status of Investor Complaints to the investors on their registered email on a monthly basis in compliance of this circular.
Further, Investment advisers are advised to display link/option to lodge complaint with them directly on their websites and mobile apps. Additionally, link to SCORES website/ link to download mobile app (SEBI SCORES) may also be provided.
The disclosure requirements under this circular shall come into effect from January 01, 2022.
This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Regulation 29 of the SEBI (Investment Advisers) Regulations, 2013, to protect the interests of investors in securities and to promote the development of and to regulate the securities market.
In case of any grievance / complaint, an investor should approach the concerned Investment Adviser and shall ensure that the grievance is resolved within 30 days.
Source: SecMarx — Publishing of Investor Charter and disclosure of Investor Complaints by Investment Advisers on their websites/mobile applications. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.