MOST IMPORTANT TERMS AND CONDITIONS (MITC) of Research Analyst (RA)

• These terms and conditions, and consent thereon, are for the research services provided by the Research Analyst cannot execute/carry out any trade (purchase/sell transaction) on behalf of the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.
• The fee charged by RA to the client will be subject to the maximum of amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients). Note: 2.1. The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA. 2.2. The fee limit does not include statutory charges. 2.3. The fee limits do not apply to a non-individual client / accredited investor.
• RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is one quarter. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek a refund of proportionate fees only for the unexpired period.
• Fees to RA may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the client can make payments through Centralized Fee Collection Mechanism - CeFCoM managed by BSE Limited i.e. currently recognized RAASB.
• The RA is required to abide by the applicable regulations/ circulars/ directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.
• Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.
• The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA’s research services. All opinions, projections, estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation/publication of research report.
• Any investment made based on recommendations in research reports are subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on the investments made based on the recommendations in the research report. Any reliance placed on the research report provided by the RA shall be as per the client’s own judgement and assessment of the conclusions contained in the research report.
• The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.

FOR ANY GRIEVANCES :

• Step 1: the client should first contact the RA using the details on its website or Email contact details.
• Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI’s SCORES platform at www.scores.sebi.gov.in
• Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at https://smartodr.in
• Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.
• The RA shall never ask for the client’s login credentials and OTPs for the client’s Trading Account Demat Account and Bank Account. Never share such information with anyone including RA.

OPTIONAL CENTRALISED FEE COLLECTION MECHANISM :

• Centralized Fee Collection Mechanism (CeFCoM):
  This initiative by SEBI aims to ensure that investor payments are securely directed to legitimate SEBI-registered advisors rather than elsewhere.
  a. It enables investors to track all payments made to SEBI-registered advisors.
  Investors can request a link for the Centralized Fee Collection Mechanism (CeFCoM) from registered Research Analysts and can make payments using various methods.
• Protecting Yourself from Social Media Scams in the Securities Market:
  The emergence and widespread adoption of social media have transformed our methods of connecting and sharing information. Unfortunately, some entities exploit Social Media Platforms (SMPs) to lure and deceive unsuspecting investors in the securities market. These entities employ various strategies to gain the trust and confidence of potential investors.
• Unsolicited Invitations:
  They often send unsolicited links to join WhatsApp Groups (such as VIP Groups or Free Trading Courses) to entice prospective clients.
• Fake Profiles:
  These entities create fraudulent profiles that present them as experts in the securities market.
• Impersonation:
  Frequently, they impersonate SEBI-registered intermediaries, well-known public figures, celebrities, CEOs, or MDs of established organizations.
• Fake Testimonials:
  They mislead investors by showcasing fabricated testimonials from group members, claiming substantial profits. As a result, investors are tricked into transferring funds to these entities' bank accounts, with false promises of similar high returns.
• Given this situation, investors are urged to be cautious and not trust unsolicited messages from unverified individuals, and to avoid joining questionable WhatsApp Groups or Communities.

Guidelines for Investors:

• Engage only with SEBI-registered intermediaries and utilize authentic trading apps.
• Verify the registration status of entities with SEBI at: (https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognised=yes.html) before making any investments.
• Conduct transactions solely through the official trading apps of SEBI-registered intermediaries found at:(https://investor.sebi.gov.in/Investor-support.html)
  Investors should only communicate through the genuine social media handles of SEBI-registered entities.
  SEBI is releasing this statement to alert investors about the widespread fraud and scams perpetrated by unscrupulous entities, and to provide guidance on how to protect themselves while engaging in the securities market through SEBI-registered intermediaries.

Tips from a Research Analyst on Reducing Your Risk of Stock Market Scams via Social Media Platforms:

• Step One: Search for the Research Analyst's name at: (https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=14).
• Step Two: Obtain the email address and phone number of that Research Analyst.
• Step Three: Communicate with the Research Analyst regarding products and services exclusively through the email address provided on the SEBI portal mentioned above.
• Step Four: If the Research Analyst responds from the same email address, you can be assured you are communicating with a genuine SEBI-registered professional.
• Step Five: If they respond from a different email address, disregard the communication, as they may be impersonators attempting to scam you out of your hard-earned savings.