Investor Charter Stock Broker

Investor Charter Stock Broker


To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.


i) To provide high quality and dependable service through innovation, capacity enhancement and use of technology.
ii) To establish and maintain a relationship of trust and ethics with the investors.
iii) To observe highest standard of compliances and transparency.
iv) To always keep ‘protection of investors’ interest’ as goal while providing service.

Services provided to Investors

• Execution of trades on behalf of investors.
• Issuance of Contract Notes.
• Issuance of intimations regarding margin due payments.
• Facilitate execution of early pay-in obligation instructions.
• Settlement of client’s funds.
• Intimation of securities held in Client Unpaid Securities Account (CUSA) Account.
• Issuance of retention statement of funds.
• Risk management systems to mitigate operational and market risk.
• Facilitate client profile changes in the system as instructed by the client.
• Information sharing with the client w.r.t. exchange circulars.
• Redressal of Investor’s grievances.

Rights of Investors

Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.
Receive complete information about the risks, obligations, and costs of any investment before investing.
Receive recommendations consistent with your financial needs and investment objectives.
Receive a copy of all completed account forms and agreements.
Receive account statements that are accurate and understandable.
Understand the terms and conditions of transactions you undertake.
Access your funds in a timely manner and receive information about any restrictions or limitations on access.
Receive complete information about maintenance or service charges, transaction or redemption fees, and penalties.
Discuss your grievances with compliance officer of the firm and receive prompt attention to and fair consideration of your concerns.

Sr.No.. Activities Expected Timelines
1 KYC entered into KRA System and CKYCR 10 days of account opening
2 Client Onboarding Immediate, but not later than one week
3 Order execution Immediate on receipt of order, but not later than the same day
4 Allocation of Unique Client Code Before trading
5 Copy of duly completed Client Registration Documents to clients 7 days from the date of upload of Unique Client Code to the Exchange by the trading member
6 Issuance of contract notes 24 hours of execution of trades
7 Collection of upfront margin from client Before initiation of trade
8 Issuance of intimations regarding other margin due payments At the end of the T day
9 Settlement of client funds 30 days / 90 days for running account settlement (RAS) as per the preference of client. If consent not given for RAS – within 24 hours of pay-out
10 ‘Statement of Accounts’ for Funds, Securities and Commodities Weekly basis (Within four trading days of following week)
11 Issuance of retention statement of funds/commodities 5 days from the date of settlement
12 Issuance of Annual Global Statement 30 days from the end of the financial year
13 Investor grievances redressal 30 days from the receipt of the complaint

1. Read all documents and conditions being agreed before signing the account opening form.
2. Receive a copy of KYC, copy of account opening documents and Unique Client Code.
3. Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes.
4. Receive all information about brokerage, fees and other charges levied.
5. Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions.
6. If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI / Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted.
7. Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT etc. as applicable, separately, within 24 hours of execution of trades.
8. Receive funds and securities / commodities on time within 24 hours from pay-out.
9. Verify details of trades, contract notes and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges.
10. Receive statement of accounts periodically. If opted for running account settlement, account has to be settled by the stock broker as per the option given by the client (30 or 90 days).
11. In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines.

1. Do not deal with unregistered stock broker.
2. Do not forget to strike off blanks in your account opening and KYC.
3. Do not submit an incomplete account opening and KYC form.
4. Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system.
5. Do not transfer funds, for the purposes of trading to anyone other than a stock broker. No payment should be made in name of employee of stock broker.
6. Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed.
7. Do not opt for digital contracts, if not familiar with computers.
8. Do not share trading password.
9. Do not fall prey to fixed / guaranteed returns schemes.
10. Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits.
11. Do not follow herd mentality for investments. Seek expert and professional advice for your investments.

Level 1 – Approach the Stock Broker at the designated Investor Grievance e-mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.

Level 2 – Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange. Complaints Resolution Process at Stock Exchange explained graphically:

Timelines for complaint resolution process at Stock Exchanges against stock brokers

S.No. . Type of Activity Timelines for activity
1. Receipt of Complaint Day of complaint (C Day).
2. Additional information sought from the investor, if any, and provisionally forwarded to stock broker. C + 7 Working days.
3. Registration of the complaint and forwarding to the stock broker. C+8 Working Days i.e. T day.
4. Amicable Resolution. T+15 Working Days.
5. Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution. T+16 Working Days.
6. Complete resolution process post GRC. T + 30 Working Days.
7. In case where the GRC Member requires additional information, GRC order shall be completed within. T + 45 Working Days.
8. Implementation of GRC Order. On receipt of GRC Order, if the order is in favour of the investor, debit the funds of the stock broker. Order for debit is issued immediately or as per the directions given in GRC order.
9. In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration Within 7 days from receipt of order

Handling of Investor’s claims / complaints in case of default of a Trading Member / Clearing Member (TM/CM) Default of TM/CM

Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:

• Circular is issued to inform about declaration of Stock Broker as Defaulter.
• Information of defaulter stock broker is disseminated on Stock Exchange website.
• Public Notice is issued informing declaration of a stock broker as defaulter and inviting claims within specified period.
• Intimation to clients of defaulter stock brokers via emails and SMS for facilitating lodging of claims within the specified period.

Following information is available on Stock Exchange website for information of investors:

• Norms for eligibility of claims for compensation from IPF.
• Claim form for lodging claim against defaulter stock broker.
• FAQ on processing of investors’ claims against Defaulter stock broker.
• Provision to check online status of client’s claim.

Level 3 – The complaint not redressed at Stock Broker / Stock Exchange level, may be lodged with SEBI on SCORES (a web based centralized grievance redressal system of SEBI)

Annexure – B- Investor Complaints Data

SN . Received from Carried forward from previous Month Received during the month Total Pending Resolved* Pending at the end of the month** Average Resolution time^ (in days)
Pending for less than 3 months Pending for more than 3 months
1 2 3 4 5 6 7 8
1 Directly from Investors 0 0 0 0 0 0
2 SEBI (SCORES) 0 0 0 0 0 0
3 Stock Exchange 0 0 0 0 0 0
4 Other Sources (if any) 0 0 0 0 0 0
5 Grand Total 0 0 0 0 0 0
SN . Month Carried Forward from previous month Received Resolved* Pending**
1 2 3 4 5 6
1 April-2021 0 0 0 0
2 May-2021 0 0 0 0
3 June-2021 0 0 0 0
4 July-2021 0 0 0 0
5 Aug-2021 0 0 0 0
6 Sep-2021 0 0 0 0
7 Oct-2021 0 0 0 0
8 Nov-2021 0 0 0 0
9 Dec-2021 0 0 0 0
10 Jan-2022 0 0 0 0
11 Feb-2022 0 0 0 0
12 Mar-2022 0 0 0 0
13 April-2022 0 0 0 0
14 May-2022 0 0 0 0
15 June-2022 0 0 0 0
16 July-2022 0 0 0 0
17 Aug-2022 0 0 0 0
18 Sep-2022 0 0 0 0
19 Oct-2022 0 0 0 0
20 Nov-2022 0 0 0 0
21 Dec-2022 0 0 0 0
22 Jan-2023 0 0 0 0
23 Feb-2023 0 0 0 0
24 Mar-2023 0 0 0 0
25 April-2023 0 0 0 0
26 May-2023 0 0 0 0
27 June-2023 0 0 0 0
28 July-2023 0 0 0 0
29 Aug-2023 0 0 0 0
30 Sep-2023 0 0 0 0
31 Oct-2023 0 0 0 0
32 Nov-2023 0 0 0 0
33 Dec-2023 0 0 0 0
34 Jan-2024 0 0 0 0
35 Feb-2024 0 0 0 0
36 Mar-2024 0 0 0 0
37 Apr-2024 0 0 0 0
38 May-2024 0 0 0 0

*Should include complaints of previous months resolved in the current month, if any.
**Should include total complaints pending as on the last day of the month, if any.
^Average resolution time is the sum total of time taken to resolve each complaint in the current month divided by total number of complaints resolved in the current month.

SN . Year Carried forward from previous Received during the year Resolved during the year Pending at the end of year
1 2017-18 0 0 0 0
2 2018-19 0 0 0 0
3 2019-20 0 0 0 0
4 2020-21 0 0 0 0
5 2021-22 0 0 0 0
6 2022-23 0 0 0 0
7 2023-24 0 0 0 0
Grand Total 0 0 0 0

Disclaimer: Investment in securities market are subject to market risks, please read all the related documents carefully before investing


Update your Mobile Number and E-mail IDs with your Stock Broker: “Prevent unauthorized transaction in your Trading/Demat account. Update your Mobile Numbers/Email Ids with your Stock Brokers/Depository Participant. Receive information/alerts of your transaction (Trading A/c) directly from Exchange at the end of the day & Demat Transaction for all debit and other important in your demat A/c directly from CDSL on the same day on your Registered mobile/email.

About CAS facility: For the benefit of the investors SEBI directed Depositories to send the Consolidated Account Statement (CAS) for the investment of an investor in Mutual Funds (MF) and Securities held in Demat form with Depositories. In case the client do not desire to receive CAS then they can opt out of the facility by submitting a request letter to the DP duly signed by all the holders stating that they do not wish to receive CAS as per guidelines prescribed by SEBI in communiqué no. 4816 and 4900

KYC is one time exercise: "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.),you need not undergo the same process again when you approach another intermediary."

Old DIS Booklet Phased out: DIS issued prior to 07-Jan- 2014 Phased out w.e.f. 06-Jan-2016 for Demat Transactions, Kindly contact your DP to receive New DIS to further transaction.

ASBA mandatory after January 1, 2016: "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

Pledge/Block Mechanism: Stock Brokers can accept securities as margin from clients only by way of pledge/block mechanism in the depository system w.e.f. September 01, 2020.

OTP directly from Depository: Update your email id and mobile number with your stock broker / depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

FAQ: Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard.

Margin: Pay 20% (or as per exchange) upfront margin of the transaction value to trade in cash market segment.

CAS: Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.

ITORS: “The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.”

Beware of fixed / guaranteed / regular returns / capital protection schemes. Stock Brokers (Brokers/Members) or their authorized persons or any of their associates are not authorized to offer fixed / guaranteed / regular returns / capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities / commodities given to the Broker under any arrangement / agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.

Do not keep funds idle with the Stock Broker. Please note that your Stock Broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities/commodities, without any transaction on the Exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.

Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your Stock Broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of Member as defaulter, the claims of clients against such Defaulter Member would be subject to norms for eligibility of claims for compensation from Member funds / IPF to the clients of the Defaulter Member.

These norms are available on Exchange website at following link: Services/defaulters/sop-process-faqs-for-handling-of-claims-of-investors-of-defaulter-member

Stock Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin / collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the Broker or associate of the Broker or authorized person of the Broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.

Always keep your contact details, viz. mobile number / email ID updated with the Broker. Email and mobile number is mandatory and you must provide the same to your Broker for updation in Exchange records. You must immediately take up the matter with Broker / Exchange if you are not receiving the messages from Exchange / Depositories regularly.

Don't ignore any emails / SMSs received from the Exchange for trades done by you. Verify the same with the contract notes / statement of accounts received from your Stock Broker and report discrepancy, if any, to your Broker in writing immediately and if the Broker does not respond, please take this up with the Exchange/Depositories forthwith.

Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the Stock Broker, compare it with the weekly statement of account sent by Stock Broker and immediately raise a concern to the Exchange if you notice any discrepancy.

Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the Stock Broker, other than a SEBI registered Stock Broker.

Do not deal with unregistered intermediaries (who are not registered with SEBI/Exchanges).

.......... Issued in the interest of Investors

Investor Grievance:

In case of any grievances please write to: (for Trading) (For DP)

Information regarding SEBI Complaint Redress System (SCORES)
Filing of complaints on SCORES – Easy & Quick

  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
  • Name, PAN, Address, Mobile Number, Email ID
  • Benefits
    1. Effective communication
    2. Speedy redressed of the grievances