The parties referenced in these Terms of Service are defined as follows:
- a) Owner, Us, We: The Owner, serving as the Research Analyst, offers Research Services on securities to users. Terms such as PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH, Owner, Us, We, Our, Ours, and other first-person pronouns refer to the Owner and all employees and affiliates associated with the Owner.
- b) You, the User, the Client: As the user of the Research Services, you will be identified throughout these Terms of Service with second-person pronouns like You, Your, Yours, or as User or Client. In this context, “User” or “you” denotes any individual or legal entity accessing the Research Services.
- c) Parties: Collectively, the Owner and you will be referred to as Parties in these Terms of Service.
PURPOSE
These Terms & Conditions (“T&C”) govern the Client’s, from time to time, use or subscription of Our research services (“Services”), including any Digital Platforms, or technology solutions that We or our service provider(s) provide.
Compliance with SEBI Circular
- This document incorporates the minimum mandatory provisions contained in the SEBI circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004 dated January 08, 2025 (“the Circular”) and relevant amendments to the SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”).
- In case of conflict between these T&C and any applicable regulations/guidelines issued by SEBI, the SEBI regulations/guidelines shall prevail.
ASSENT & ACCEPTANCE
By utilizing the Research Services, you confirm that you have read and understood these Terms of Service and agree to adhere to them. If you do not accept these Terms of Service, please request a refund immediately (if applicable). The Owner will provide access to the Research Services only if you agree to these Terms. Additionally, depending on the Services obtained by a User, further terms and conditions may apply, which will be seen as an agreement between Users and the Owner.
AVAILING THE RESEARCH SERVICES:
By accepting the delivery of the research service, the client confirms their choice to subscribe to the research service of “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” at their discretion. The service “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” affirms that research services will be delivered in compliance with the relevant provisions of the RA Regulations.
OBLIGATIONS ON RA:
“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” and the client are required to comply with the SEBI Act and all applicable SEBI rules and regulations, including the RA Regulations and relevant government notifications, as they may be updated from time to time.
CLIENT INFORMATION AND KYC:
The client must provide all necessary details in full as required by “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” in its standard format, along with any supporting documentation mandated by RAASB/SEBI. The Owner will collect, store, upload, and verify KYC records of clients with the KYC Registration Agency (KRA) as directed by SEBI periodically.
STANDARD TERMS OF SERVICES
The client’s consent will be obtained based on the following understanding:
Client Consent:
“I/We have read and understood the terms and conditions applicable to a Research Analyst as defined under Regulation 2(1)(u) of the SEBI (Research Analyst) Regulations, 2014, including the fee structure.
I/We confirm that we are subscribing to the research services for our own benefit and consumption. Any reliance on the research report provided by the Research Analyst will be based on our independent judgment and assessment of the conclusions within the report.
I/We further understand and agree that:
- Investments based on recommendations in the research report are subject to market risk.
ii. Holding positions without a stop-loss or target may lead to significant losses in unfavourable market conditions or company events.
iii. Market risks may result in partial or total loss of investments under certain conditions.
iv. Registration by SEBI and certification from NISM do not guarantee the performance of the intermediary or assure returns to investors.
v. Past performance is not indicative of future results.
vi. Recommendations in the research report do not guarantee returns.
vii. There is no avenue for claiming compensation for any losses incurred based on the recommendations in the research report.
DECLARATION FROM
PANKAJ KUMAR JAIN, PROPRIETOR – EYE ON TRADE RESEARCH (SEBI Registration No.: INH000021386)
- PANKAJ KUMAR JAIN, Proprietor – EYE ON TRADE RESEARCH (SEBI Reg. No.: INH000021386) is registered with SEBI as a Research Analyst in accordance with the SEBI (Research Analysts) Regulations, 2014, with the following details:
- Registration Name: PANKAJ KUMAR JAIN, Proprietor – EYE ON TRADE RESEARCH
- Registration Number: INH000021386
- Registration Validity: June 30, 2025 – June 29, 2030
- Trade Name for Research Services: EYE ON TRADE RESEARCH
- PANKAJ KUMAR JAIN, Proprietor – EYE ON TRADE RESEARCH (SEBI Reg. No.: INH000021386) holds valid registration and qualifications necessary to provide services under the SEBI Research Analyst Regulations, which remain valid and active.
iii. The services provided by PANKAJ KUMAR JAIN, Proprietor – EYE ON TRADE RESEARCH (SEBI Reg. No.: INH000021386) do not conflict with or violate any applicable laws, rules, regulations, contracts, or agreements to which the entity is bound.
- The maximum fee charged by “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” is ₹1.51 lakhs per annum per family of clients.
- Recommendations made by “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” do not guarantee returns.
ADDITIONAL DECLARATION
- If the Research Analyst is an individual, they declare:
“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” is not engaged in any other professional or business activities that could interfere with or influence the independence of the research report and its recommendations.
disclosure Regarding Other Interests
Mr. Pankaj Kumar Jain (Proprietor, Eye On Trade Research, SEBI Registration No. INH000021386) holds a 50% equity stake in Primepaisa Finserve Private Limited, a company engaged in providing educational and training services related to the financial markets.
This entity is strictly limited to training and knowledge dissemination and does not engage in investment advisory, stock recommendations, or portfolio management services.
This association does not influence the independence or objectivity of the research views expressed in this report.
Any potential conflict of interest, if it arises in the future, will be disclosed in accordance with applicable regulations.
CONSIDERATION AND MODE OF PAYMENT
The client shall promptly pay the Research Analyst the agreed fees for the services rendered, along with any applicable statutory charges. Such fees and charges shall be payable only through the specified methods and mechanisms.
“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” Services:
- Clients may visit www.eyeontrade.com for details of services, terms and conditions, disclosures and disclaimers, investor charter and complaint table, refund policy, and other relevant information.
- In the event that a client terminates the contract and requests a refund, the refund will be processed in accordance with SEBI norms on a pro-rata basis.
RISK FACTORS
(A statement covering standard risks associated with investment in securities is included here by PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386)
Investing in securities carries inherent risks that may adversely impact an investor’s capital or portfolio. Key risks include, but are not limited to:
- Market Risk: Fluctuations in overall market conditions may adversely affect investment value, revenue, and profitability.
- Financial Risk: Variations in currency exchange rates, interest rates, or liquidity may negatively impact financial performance.
- Operational Risk: Unforeseen events such as natural disasters, system breakdowns, or operational disruptions can result in losses.
- Regulatory Risk: Changes in laws, regulations, tax policies, or legal actions can significantly affect businesses and securities markets.
- Competition Risk: Intense industry competition may lead to pricing pressures, reduced margins, or loss of market share.
- Technology Risk: Cybersecurity threats, data breaches, or technology failures may compromise business continuity and investor confidence.
- Supply Chain Risk: Disruptions in supply chains, raw material shortages, or supplier defaults may impact operations and performance.
- Environmental and Sustainability Risk: Non-compliance with environmental or sustainability-related regulations can adversely impact business operations and reputation.
- Credit Risk: Economic downturns or borrower defaults can lead to loan losses, particularly for financial institutions.
- Litigation Risk: Ongoing or future legal proceedings may result in financial liabilities, penalties, or reputational damage.
- Market Risks Warning: “Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.”
- Loss Possibility Warning: “Market risks may lead to partial or total loss of investments under certain market conditions.”
- Open Positions Risk: Where stop-loss and target are not mentioned, positions are considered “open.” In most stock-related research, stop-loss and target orders may not be specified. In such cases, under adverse market conditions, the probability of a total loss of invested capital is very high. To mitigate this risk and in the best interest of investors, it is advised to exit open positions if they incur a 20% loss from the buying/selling price.
- High Risk in Derivatives: Risks in Open Futures and Options trading are VERY HIGH.
- SEBI Registration Disclaimer: Registration granted by SEBI and certification from NISM do not guarantee the performance of the intermediary or assure returns to investors.
- Past Performance Warning: Past performance is not indicative of future results.
- No Warranties Warning: The Research Analyst does not guarantee the accuracy, timeliness, or outcomes of recommended securities.
- Exercise Caution Warning: “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” provides research analysis and specific securities recommendations but does not offer portfolio management services, personal account handling, profit sharing, or risk-profiling-based investment advisory services.
Investors are advised to carefully assess these risks before making investment decisions.
- “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” complies with all applicable regulations, circulars, and directives issued by SEBI regarding the disclosure and mitigation of any actual or potential conflict of interest.
Termination of Service and Refund of Fees
- “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” may suspend or terminate research services to clients if SEBI suspends or cancels the RA’s registration. In such cases, any unutilized subscription fees will be refunded on a pro-rata basis.
- If the certificate of registration of “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” is suspended for more than 60 days or cancelled, the Research Analyst will refund the fees proportionately for the remaining subscription period, calculated from the effective date of suspension/cancellation until the original end date of the subscription.
- If services are terminated prematurely as outlined, the consideration and mode of payment shall apply, and the fees for research services will be refundable subject to the conditions mentioned above or as per the Refund Policy available on our website.
- GRIEVANCE REDRESSAL AND DISPUTE RESOLUTION
- Any grievances regarding:
i. non-receipt of research reports,
ii. Missing pages or inability to download the complete report, or
iii. Any deficiencies in the research services provided by “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386”
- must be promptly escalated by the client to the designated person/employee of “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386”.
- Designated Person/Employee:
- Name: PANKAJ KUMAR JAIN (Proprietor, Eye On Trade Research)
- E-mail ID: support@eyeontrade.com
- “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” will address grievances within 7 business working days or within such timelines as may be specified by SEBI under the RA Regulations.
- Grievances will be resolved in a timely and transparent manner. Any disputes between “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” and clients may be resolved through arbitration or any other mechanism specified by SEBI from time to time.
- Investor Support Resources:
- SEBI Toll-Free Numbers: 1800 22 7575 / 1800 266 7575
- All additional voluntary clauses introduced by “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” shall fully comply with SEBI’s rules, regulations, and circulars.
- Any amendments to such voluntary clauses/documents will be made with a 15-day prior notice to clients.
- Some voluntary clauses applicable to “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” include:
- Research service fees paid are refundable but subject to the conditions mentioned in the Refund Policy and SEBI guidelines.
b. Any changes or updates to the Terms and Conditions will be published on our official website and/or mobile application.
Mandatory Notice
Clients are encouraged to review the Do’s and Don’ts while dealing with “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” as specified in SEBI Master Circular No. SEBI/HO/MIRSD-POD-1/P/CIR/2024/49 dated May 21, 2024, or as may be updated by SEBI from time to time.
Most Important Terms and Conditions (MITC)
“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” MITC for clients include:
- The Terms and Conditions and the client consent pertain only to research services. “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” cannot execute or conduct any trades (buy/sell transactions) on behalf of clients.
➡️ Advisory: Clients should not allow “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” to execute trades on their behalf.
- “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” is not authorized to request or accept profit-sharing arrangements from client trades.
➡️ Advisory: Clients must not provide any profit-sharing to “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386.”
iii. “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” cannot solicit or provide Portfolio Management Services (PMS) unless holding a valid SEBI PMS registration.
➡️ Advisory: Clients must not provide any funds for PMS services unless “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” holds a valid SEBI PMS registration certificate.
- If any activities appear to exceed the scope of SEBI Research Analyst Regulations, 2014, clients must notify the Eye On Trade Research compliance team. If unresolved within 7 working days, clients may escalate the matter to SEBI. you may also consider notifying SEBI regarding these concerns.
- Fee & Charges
1.1 The fee charged by the Research Analyst (RA) to the client shall be subject to the maximum amount prescribed by SEBI / Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF clients).
1.2 The current fee limit is ₹1,51,000/- per annum per family of client for all research services of the RA.
1.3 The above fee limit does not include statutory charges.
1.4 The above fee limits do not apply to non-individual clients / accredited investors.
- Fee Collection & Refund Policy
2.1 RA may charge fees in advance if agreed by the client, but such advance shall not exceed the period stipulated by SEBI (presently one quarter).
2.2 In case of premature termination of RA services by either the RA or the client, the client shall be entitled to a refund of proportionate fees only for the unexpired period.
2.3 Fees may be paid only through permitted modes such as cheque, online bank transfer, UPI, etc. Cash payment is strictly prohibited.
2.4 Clients may also optionally make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited, the currently recognized RAASB.
- Regulatory Compliance & Conflict of Interest
3.1 The RA is required to abide by SEBI and RAASB regulations, circulars, and directions issued from time to time.
3.2 The RA shall disclose and mitigate any actual or potential conflict of interest and promptly inform the client if such conflict may affect the services.
- Risk Disclosure
4.1 The RA cannot and will not offer any assured, guaranteed, or fixed return schemes. Such practices are prohibited by law.
4.2 The RA does not guarantee returns, profits, accuracy, or risk-free investments from its research services.
4.3 All opinions, projections, and estimates provided are based on analysis of available data and assumptions as on the date of the research report.
4.4 Any investments made on the basis of RA recommendations are subject to market risks. The RA shall not be held responsible for any losses incurred. The client is solely responsible for reliance on such research and for independent judgment.
- Grievance Redressal Mechanism
Step 1: The client shall first approach the RA at the contact details (email/phone) provided on the RA’s website.
Step 2: If unresolved, the client may lodge a grievance through SEBI’s SCORES portal at www.scores.sebi.gov.in.
Step 3: The client may also consider dispute resolution through the Smart ODR portal at https://smartodr.in.
- Client Responsibilities & Safety
6.1 Clients shall keep their contact details (mobile number, email ID, etc.) updated with the RA at all times.
6.2 The RA shall never request login credentials, OTPs, or sensitive details of the client’s Trading Account, Demat Account, or Bank Account. Clients must never share such information with anyone, including the RA.
Investment Disclaimer:
“Any investment made based on recommendations in research reports is subject to market risks. Recommendations do not provide any assurance of returns. The Research Analyst shall not be liable for any losses incurred on such investments. Any reliance placed on the research report shall be solely at the client’s own judgment and assessment.
Limitation of Liability:
“There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. The client acknowledges and agrees that investments are subject to market risks and the RA shall not be held responsible for any financial loss.”
Disclaimer:
SEBI Registration, RAASB enlistment, and NISM Certification do not guarantee the performance of the RA or returns to the client.
🔔 Important Client Awareness – Research Analyst (RA)
📌 Regulatory Disclaimer
- SEBI Registration, RAASB Enlistment, and NISM Certification indicate compliance only.
- They do not guarantee the performance of the Research Analyst or assure any returns to the client.
📌 Grievance Redressal Mechanism
1️⃣ First, contact your RA directly through the contact details (website/email).
2️⃣ If the resolution is unsatisfactory, lodge your grievance on SEBI’s SCORES portal: www.scores.sebi.gov.in
3️⃣ Alternatively, you may use the Online Dispute Resolution (ODR) platform: https://smartodr.in
📌 Client Responsibility
- Always keep your contact details (Email ID, Mobile Number) updated with the RA.
- Never share your Trading Account, Demat Account, or Bank Account login credentials/OTPs with anyone – including the RA.
⚠️ Remember:
Investments are subject to market risks. Stay aware, stay protected.
Optional Centralised Fee Collection Mechanism (CeFCoM)
The Centralised Fee Collection Mechanism (CeFCoM) is a SEBI initiative designed to protect investors by ensuring that their payments are made securely and only to legitimate SEBI-registered intermediaries.
- CeFCoM enables investors to safely route their payments directly to SEBI-registered advisors, eliminating risks of diversion of funds.
b. It allows investors to track and verify all payments made to SEBI-registered advisors in a transparent manner.
Investors can request a link for the Centralized Fee Collection Mechanism (CeFCoM) from registered Research Analysts and can make payments using various methods.
🚨 Protecting Yourself from Social Media Scams in the Securities Market
The emergence and widespread adoption of social media have transformed our methods of connecting and sharing information. Unfortunately, some entities exploit Social Media Platforms (SMPs) to lure and deceive unsuspecting investors in the securities market. These entities employ various strategies to gain the trust and confidence of potential investors.
🔹 Unsolicited Invitations: They often send unsolicited links to join WhatsApp Groups (such as VIP Groups or Free Trading Courses) to entice prospective clients.
🔹 Fake Profiles: These entities create fraudulent profiles that present them as experts in the securities market.
🔹 Impersonation: Frequently, they impersonate SEBI-registered intermediaries, well-known public figures, celebrities, CEOs, or MDs of established organizations.
🔹 Fake Testimonials: They mislead investors by showcasing fabricated testimonials from group members, claiming substantial profits. As a result, investors are tricked into transferring funds to these entities’ bank accounts, with false promises of similar high returns.
⚠️ Investor Advisory
Given this situation, investors are urged to be cautious and not trust unsolicited messages from unverified individuals, and to avoid joining questionable WhatsApp Groups or Communities.
📌 Guidelines for Investors
✅ Engage only with SEBI-registered intermediaries and use authentic trading apps.
✅ Verify the registration status of any entity with SEBI before making investments:
🔗 SEBI Registration Verification
✅ Conduct transactions only through the official trading apps of SEBI-registered intermediaries:
🔗 SEBI Investor Support
✅ Communicate only through the official social media handles of SEBI-registered entities.
⚠️ Investor Alert:
SEBI issues this advisory to warn investors about widespread frauds and scams carried out by unscrupulous entities. Follow these guidelines to protect yourself while engaging in the securities market through SEBI-registered intermediaries.
💡 Tips from a Research Analyst to Reduce Your Risk of Stock Market Scams via Social Media
Step 1: Search for the Research Analyst’s name on SEBI’s official website:
🔗 SEBI Registered Intermediaries
Step 2: Note down the email address and phone number of that Research Analyst.
Step 3: Communicate about products and services only through the email ID provided on the SEBI portal.
Step 4: If the RA replies from the same email address, you can be assured they are a genuine SEBI-registered professional.
Step 5: If the RA replies from a different email address, immediately disregard the communication. Such impersonators may be attempting to scam you and steal your hard-earned savings.
⚠️ Remember:
Protect yourself. Verify before you trust.
Use of AI Tools in Research and Advisory Services
- Recommendations provided are based on technical and fundamental analysis.
- The responsibility for client data security, confidentiality, and regulatory compliance is upheld in the use of AI tools.
- Risks of AI-based trading include system vulnerabilities that may amplify errors.
- Handling of sensitive data involves privacy and security risks, including potential breaches.
- AI tools may generate concerns such as:
- Biased outputs
- Privacy violations
- Lack of transparency
- Data quality issues
- Misleading or erroneous results due to poor input data
- Severe data glitches may result in significant financial losses relating to client securities or portfolios.
Client-Level Segregation of Research and Distribution Activities
“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” adheres to Regulation 26C(5) of the SEBI Research Analyst Regulations.
- Existing clients cannot simultaneously avail both research and distribution services within the same RA group/family.
- New clients may opt for either research or distribution services at the time of onboarding, but not both.
Model Portfolio by Research Analyst
“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386” will strictly comply with the SEBI Research Analysts’ Guidelines while recommending any model portfolio.
Jurisdiction, Venue & Governing Law
- Use of the website www.eyeontrade.com and/or its services shall be governed by the laws, regulations, and directives of SEBI.
- In case of disputes permitted under these services, the Parties agree that the exclusive jurisdiction shall lie with the competent courts of New Delhi, India.
- This provision is mandatory and binding, and not merely permissive.
Amendments
- These Terms & Conditions may be modified or updated in line with SEBI regulations.
- Notice of material changes will be published on the website/app or communicated via email.
- Continued use of the services after such updates will be deemed as acceptance of the revised Terms & Conditions.
Indemnification
You agree to indemnify and hold harmless “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH: INH000021386”, including its officers, employees, and affiliates, against any and all claims, damages, losses, liabilities, costs, or expenses (including reasonable legal fees) arising out of or in connection with:
- Your breach of these Terms & Conditions (T&C) or violation of applicable laws.
ii. Unauthorized, negligent, or improper use of your account and services.
iii. Any third-party claims resulting from your actions or inactions.
Suspension & Termination of Services
Suspension of Services:
- We reserve the right to suspend your account or restrict access to services, with or without prior notice, in the following situations:
i. Breach of these Terms & Conditions.
ii. If required by SEBI, regulatory authorities, or under applicable law.
Termination of Services:
- This Agreement may be terminated immediately under the following circumstances:
i. Violation of Terms & Conditions by the Client.
ii. Directions issued by SEBI or any competent regulatory authority.
iii. Non-payment of fees beyond the permissible grace period (if applicable).
Refunds:
Refunds, if applicable, will be processed strictly in accordance with the Refund Policy stated on our website and the conditions outlined under SEBI regulations.
Residency Declaration
You hereby agree and confirm that you are not a “U.S. Person” as defined under applicable U.S. laws and regulations, and that your place of residence and tax residency is in India.
Politically Exposed Person (PEP) Declaration
You hereby declare and confirm that you are not a Politically Exposed Person (PEP), nor are you related to or associated with any Politically Exposed Person as defined under applicable laws and regulations.
Family Subscription Declaration
I (You) hereby confirm and declare that I am the sole person in my family who has subscribed to this plan, and no other family member has subscribed to this plan or to any other plan/service offered by your organization.
Visit the Investor Charter and Complaint Table at: www.eyeontrade.com
Investor Charter in respect of Research Analyst (RA)
- Vision and Mission Statements for Investors
Vision: Invest with knowledge & 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.
- Details of business transacted by the Research Analyst with respect to the investors
- To publish research report based on the research activities of the RA.
- To provide an independent unbiased view on securities.
- To offer unbiased recommendation, disclosing the financial interests in recommended securities.
- To provide research recommendation, based on analysis of publicly available information and known observations.
- To conduct audit annually.
- To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts.
- 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.
- Details of services provided to investors (No Indicative Timelines)
Onboarding of Clients:
- Sharing of terms and conditions of research services.
- Completing KYC of fee-paying clients.
Disclosure to Clients:
- 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.
- To disclose the extent of use of Artificial Intelligence tools in providing research services.
- 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.
- To disclose any conflict of interest of the activities of providing research services with other activities of the research analyst.
- To distribute research reports and recommendations to the clients without discrimination.
- To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
- To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information.
- To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines.
- To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services.
- To treat all clients with honesty and integrity.
- To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information.
- Details of grievance redressal mechanism and how to access it
Mode of filing the complaint with research analyst:
- In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance.
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 not satisfied:
- 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.
Physical complaints:
- Investors may send their complaints 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 in accordance with the terms and conditions agreed with the research analyst.
- 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.
- Expectations from the investors (Responsibilities of investors)
Do’s:
- Always deal with SEBI registered Research Analyst.
- Ensure that the Research Analyst has a valid registration certificate.
- Check for SEBI registration number: Please refer to the list of all SEBI registered Research Analyst which is available on SEBI website in the following link:
- Always pay attention towards disclosures made in the research reports before investing.
- 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. (Applicable for fee paying clients only).
- Before buying/ selling securities or applying in public offer, check for the research recommendation provided by your Research Analyst.
- Ask all relevant questions and clear your doubts with your Research Analyst before acting on recommendation.
- Seek clarifications and guidance on research recommendations from your Research Analyst, especially if it involves complex and high risk financial products and services.
- 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.
- Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received.
- Always be aware that you will not be bound by any clause, prescribed by the research analyst, which is contravening any regulatory provisions.
- Inform SEBI about Research Analyst offering assured or guaranteed returns.
Don’ts:
- Do not provide funds for investment to the Research Analyst.
- Don’t fall prey to luring advertisements or market rumours.
- Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst.
- Do not share login credential and password of your trading, demat or bank accounts with the Research Analyst.
Final Consent & Signature Declaration
I hereby declare that I have carefully read and fully understood this document in my complete senses, and I am signing it voluntarily with my full consent and free will.
