TABLE OF CONTENTS



  • Introduction

SEBI has mandated certain changes for showcasing investor complaints as well as issued guidelines regarding investor charter, this is applicable for both RA & RIAs as described in the latest circulars dated 13th Dec 2021 (RAs and RIAs). 

To enable you to maintain compliance with the latest norms, this article describes the steps needed to upload the investor charter and complaints data on the Publisher platform.

  • Investor Charter

An investor charter is a brief document containing details of services provided to investors, their rights, do's and don’ts, responsibilities, investor grievance handling mechanism and estimated timelines thereof etc., in one single place, in a lucid language, for ease of reference (The format has been provided under annexure a in the  RAs and RIAs circulars)


On the publisher platform, a PDF containing the investor charter can be uploaded in the “Compliance” section of the Publisher Profile Tab as shown below

A sample Investor charter can be downloaded from the same page with the format and guidelines to be followed for the same.


On being uploaded, the investor charter will become available to download from your micro-website in the Manager profile section before a maximum of 24 hours as shown below.


  • Complaints Data

As announced by SEBI, to maintain transparency in grievance redressal, both RAs and RIAs will have to disclose on their websites/mobile applications, all complaints including SCORES complaints received by them in the format mentioned in Annexure B in the RAs and RIAs circulars.

 

The complaints data can be uploaded in the ‘Compliance section’ in the Publisher Profile page.

As shown below, the complaints data would consist of three files which when uploaded would manifest on your website in the complaints section:

  1. Current month csv: This file contains the complaints data (in the format prescribed by SEBI in the above circulars) received for you for the current month that has passed.

  2. Monthly csv: This file contains the complaints data of per month level.

  3. Yearly csv: This file contains the complaints data of per year level.




Please note the following:

  • The unit for average resolution time is in ‘days’

  • The grand totals as mentioned in the annexure, will be automatically calculated by the Publisher platform and displayed. The total of average resolution time would be a weighted average based on the number of resolved queries.

    • (Σ3(Resolved queries*average resolution time)/n) where n= sum of resolved queries

  • Sample files can be downloaded for each of the file upload types

  • If no details are uploaded here, the default empty state would consist of all zeros in the complaints view on your website; the onus of maintaining the accuracy of these values lies with you.

  • Post uploading the files, the values will update on your micro-website in a few minutes.


Values uploaded in the publisher profile will be visible to the users in the footer under view details of complaints resolution section


On clicking it, a popup will appear with the ability to view the complaints data for the current month, historical monthly and historical yearly. Viewers can also find the link for the SEBI Scores websites and the SEBI scores apps below the dropdown.