MOST IMPORTANT TERMS AND CONDITIONS (MITC) of Research Analyst (RA)
These terms and conditions, and consent thereon, are for the research services provided by the Research Analyst. The RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of the client. Clients are advised not to permit RA to execute any trade on their behalf.
The fee charged by RA to the client will 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).
Note:
The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
The fee limit does not include statutory charges.
The fee limits do not apply to non-individual clients / accredited investors.
RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one quarter. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek a refund of proportionate fees only for the unexpired period.
Fees to RA may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally, the client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (currently recognized RAASB).
The RA is required to abide by applicable regulations/circulars/directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.
The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA’s research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
Any investment made based on recommendations in research reports is subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
RESEARCH ANALYST
“An Ounce of Prevention is Worth a Pound of Cure”
The SEBI registration, enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
For any grievances:
Step 1: The client should first contact the RA using the details on its website or email contact details.
Step 2: If the resolution is unsatisfactory, the client can lodge grievances through SEBI’s SCORES platform at www.scores.sebi.gov.in
Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in
Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
The RA shall never ask for the client’s login credentials and OTPs for the client’s Trading Account, Demat Account, and Bank Account. Never share such information with anyone including RA.
OPTIONAL CENTRALISED FEE COLLECTION MECHANISM
Centralized Fee Collection Mechanism (CeFCoM): This initiative by SEBI aims to ensure that investor payments are securely directed to legitimate SEBI-registered advisors rather than elsewhere.
It enables investors to track all payments made to SEBI-registered advisors.
Investors can request a link for CeFCoM from registered Research Analysts and make payments using various methods.
Protecting Yourself from Social Media Scams in the Securities Market
Social media platforms are often exploited by fraudulent entities to lure and deceive investors.
Common Scams Include:
Unsolicited Invitations: Links to join WhatsApp Groups (VIP Groups or Free Trading Courses).
Fake Profiles: Fraudulent profiles presenting themselves as experts in the securities market.
Impersonation: Pretending to be SEBI-registered intermediaries, celebrities, or CEOs of established organizations.
Fake Testimonials: Misleading investors with fabricated claims of profits.
Guidelines for Investors:
Engage only with SEBI-registered intermediaries and utilize authentic trading apps.
Verify registration status with SEBI: SEBI Registration Verification
Conduct transactions only through official trading apps of SEBI-registered intermediaries: SEBI Investor Support
Communicate only through genuine social media handles of SEBI-registered entities.
Tips to Reduce Risk of Stock Market Scams via Social Media:
Search for the Research Analyst’s name at SEBI: SEBI Official Website
Obtain the official email address and phone number of the RA.
Communicate exclusively through the email address provided on SEBI portal.
If the RA responds from the official email address, it is genuine.
If they respond from a different email, disregard the communication as it may be a scam.