Investor Charter - Stock Broker
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.
DOs and DON'Ts for Investors
DOs
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.
DON'Ts
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.
Grievance Redressal Mechanism
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.
Getting started with Abbott Wealth today!
₹0 Brokerage on Equity Delivery & ₹0 AMC for first year
