Most Important Terms and Conditions (MITC): RA shall also disclose MITC as specified below to their clients. (MITC have been standardized by Industry Standards Forum (ISF) in consultation with SEBI and RAASB).
1. No Trade Execution by RA
These terms and conditions, and consent thereon, are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of the client. Thus, clients are advised not to permit RA to execute any trade on their behalf.
2. Fee Limits (Individual & HUF Clients)
The fee charged by RA to the client will be subject to the maximum amount prescribed by SEBI / Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients).
- The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.
- The fee limit does not include statutory charges.
- The fee limits do not apply to a non-individual client / accredited investor.
3. Advance Fees & Refund on Termination
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 refund of proportionate fees only for the unexpired period.
4. Modes of Payment
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 the Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB).
5. Conflict of Interest
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.
6. No Assured Returns
7. No Guarantee of Performance
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 the research report.
8. Investment Risk & Client's Own Judgement
Any investment made based on recommendations in research reports is subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on 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.
9. Registration Does Not Guarantee Performance
The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.
10. Grievance Redressal
Step 1: The client should first contact the RA using the details on its website or the following contact details:
Phone: +91 88606 03112
Email: kmresearchanalyst@gmail.com
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 smartodr.in.
11. Keeping Contact Details Updated
Clients are required to keep contact details, including email id and mobile number/s, updated with the RA at all times.