Publishing of Investor Charter and Disclosure of Complaints by Custodians and DDPs on their websites
Summary
SEBI mandates Custodians and Designated Depository Participants to publish Investor Charters and disclose monthly complaint data on their websites. The circular specifies detailed service timelines for account opening, trade processing, and grievance redressal in Annexure A. Compliance with these disclosure requirements is effective from January 1, 2022.
Text
all the registered Custodians and DDPs shall take necessary steps to bring the Investor Charter... to the notice of their clients and ensure that the Investor Charter is prominently displayed on their respective website
all Custodians and DDPs shall disclose on their respective websites, the monthly data on complaints received and redressal thereof, latest by 7th of succeeding month
The provisions of this circular shall come into effect from January 01, 2022
The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992
TIMELINES PERTAINING TO VARIOUS SERVICES PROVIDED BY CUSTODIAN... Account Opening Within 15 working days... Grievance Redressal Acknowledgment within 48 hours and redress within 30 days
TIMELINES PERTAINING TO VARIOUS SERVICES PROVIDED BY DDP... FPI registration Fresh Registration Within 30 days... KYC Review Annually or every 3 years depending on risk category
Format of Complaints against Custodians and DDPs to be displayed on their websites... Data for the Month ending... Trend of Monthly disposal of complaints
Source: SecMarx — Publishing of Investor Charter and Disclosure of Complaints by Custodians and DDPs on their websites. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.