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.

• To provide high quality and dependable service through innovation, capacity enhancement and use of technology.

• To establish and maintain a relationship of trust and ethics with the investors.

• To observe highest standard of compliances and transparency.

• To always keep ‘protection of investors’ interest’ as goal while providing service.

• 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.

• 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.

DOs

• Read all documents and conditions being agreed before signing the account opening form.
• Receive a copy of KYC, copy of account opening documents and Unique Client Code.
• Read the product / operational framework / timelines related to various Trading and Clearing & Settlement processes.
• Receive all information about brokerage, fees and other charges levied.
• Register your mobile number and email ID in your trading, demat and bank accounts to get regular alerts on your transactions.
• 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.
• Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT etc. as applicable, separately, within 24 hours of execution of trades.
• Receive funds and securities / commodities on time within 24 hours from pay-out.
• 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.
• 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).
• In case of any grievances, approach stock broker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines.

DON'Ts

• Do not deal with unregistered stock broker.
• Do not forget to strike off blanks in your account opening and KYC.
• Do not submit an incomplete account opening and KYC form.
• Do not forget to inform any change in information linked to trading account and obtain confirmation of updation in the system.
• 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.
• Do not ignore any emails / SMSs received with regards to trades done, from the Stock Exchange and raise a concern, if discrepancy is observed.
• Do not opt for digital contracts, if not familiar with computers.
• Do not share trading password.
• Do not fall prey to fixed / guaranteed returns schemes.
• Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks / securities promising huge profits.
• 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:

In absence of response/complaint not addressed to your satisfaction, you may lodge a complaint with SEBI at https://scores.sebi.gov.in/ or Exchange at https://investorhelpline.nseindia.com/NICEPLUS/ , https://www.mcxindia.com/Investor-Services, https://www.ncdex.com/investor_complaint, https://bsecrs.bseindia.com/ecomplaint/frmInvestorHome.aspx. Please quote your Service Ticket/Complaint Ref No. while raising your complaint at SEBI SCORES/Exchange portal.

Timelines for complaint resolution process at Stock Exchanges against stock brokers.
 

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) @ SCORES.

Arihant, we strive to offer the best service to our clients. Yet there could be instances where we may fall short, but we commit to learning from our mistakes to serve our clients better. We believe in complete transparency and hence you can click here for the latest status of all investor complaints as per Annexure B.