Markets regulator Sebi on Friday proposed to develop an ‘Investor Charter‘ for KRAs detailing the services provided to investors along with their rights and grievance redressal mechanism. Additionally, the investor charter should provide details about activities of KRAs as well as Dos and Don’ts for investors.
This charter is aimed at facilitating investor awareness about various activities where an investor/client has to deal with KRAs for availing Investor Service Requests.
KYC (Know Your Client) Registration Agencies (KRAs) facilitate processing, storage and incidental services of KYC records in the securities market.
In its consultation paper, Sebi suggested that the proposed charter should include vision, mission, services provided to investors by KRAs, investors’ rights, Dos and Don’ts for investors, and grievance redressal mechanism.
All the registered KRAs should take necessary steps to bring the charter to the notice of existing and new investors by way of displaying it on their websites and at prominent places in offices and disseminating it through e-mail.
The Securities and Exchange Board of India (Sebi) has sought public comments till April 25 on the proposals.
