SEBI Publishing of Investor Charter and disclosure of Investor Complaints by Portfolio Managers on their websites

Last updated: 11 December 2021

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The Securities and Exchange Board of India (SEBI) has issued a circular requiring all Portfolio Managers to publish an Investor Charter on their websites. This charter, available in Annexure-A, details services, timelines, and grievance redressal mechanisms. Additionally, Portfolio Managers must now disclose monthly data on investor complaints, including those received via SEBI SCORES, on their websites by the 7th of the following month. These new regulations aim to enhance transparency and investor awareness and come into effect from January 1, 2022.

Securities and Exchange Board of India Circular No.SEBI/HO/IMD/IMD-II_DOF7/P/CIR/2021/681 Dated:December 10, 2021 To, All Portfolio Managers Dear Sir / Madam, Subject: Publishing of Investor Charter and disclosure of Investor Complaints by Portfolio Managers on their websites 1. With a view to enhancing awareness of investors about the various activities which an investor deals with while availing the services provided by portfolio managers, an investor charter has been prepa

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FAQ :

The Investor Charter has been prepared by SEBI to enhance investor awareness about the services provided by portfolio managers, including timelines for services and the grievance redressal mechanism.

Portfolio Managers must disclose data on all complaints received, including those from SEBI SCORES, on their websites monthly. This data should be available by the 7th of the succeeding month.

The provisions of this circular come into effect from January 1, 2022.

Portfolio Managers are advised to display a link or option on their websites and mobile apps for clients to lodge complaints directly. Links to the SEBI SCORES website or mobile app may also be provided.

The Investor Charter details services such as account opening, agreement with the portfolio manager, periodic statements, investor grievance redressal, and responsibilities of investors.

SEBI SCORES is a centralised online complaint resolution system where investors can lodge grievances against PMS providers and track their status.