The Securities and Exchange Board of India vide its notification dated 10th December 2021 has published the investor charter for portfolio management services, with a view to enhance awareness of investors about various activities which an investor deals with while availing the services provided by portfolio managers.
In order to enhance transparency in the Investor Grievance Redressal Mechanism, all Portfolio Managers on a monthly basis shall disclose on their websites, the data pertaining to all complaints including SCORES complaints received by them in the prescribed format. The information shall be made available by 7th of the succeeding month.
Further, the Portfolio Managers are advised to display link/option on their websites and mobile apps so as to enable their clients to lodge complaint with them directly. Additionally, link to SCORES website/ link to download mobile app (SEBI SCORES) may also be provided by the Portfolio Managers on their website.
The investor charter rolls out the details of business transacted by the organization with respect to the investors and the details of services provided to investors and estimated timelines.
Investors can approach SEBI for redressal of their complaints. On receipt of complaints, SEBI takes up the matter with the concerned PMS provider and follows up with them. Investors may send their complaints to: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan. Plot No. C4- A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051.
