SEBI, via its latest circulars dated June 2, 2025, has issued revised Investor Charters for both Investment Advisers (IAs) and Research Analysts (RAs). These charters aim to enhance transparency, define service standards, and protect investor interests.
You can read the official circulars here:
Investor Charter for Investment Advisers
Investor Charter for Research Analysts
An Investor Charter is a standardized document that clearly explains the services an investment adviser or research analyst is required to provide. It outlines the rights and responsibilities of investors, and also details the available options for complaint redressal along with the expected service standards.
Key Highlights:
- The main goal is to help investors make decisions that are informed and confident.
- Investment Advisers (IAs) should check your risk level and suggest products that suit you. Research Analysts (RAs) should give fair and clear research based on proper methods.
- You have the right to get clear information and be treated fairly.
If there’s a problem, you can complain through SEBI’s SCORES 2.0 platform or the Online Dispute Resolution (ODR) system. - Only take advice from professionals who are registered with SEBI. Make sure you understand the risks before investing. Keep records of all advice and communication for future reference.
- Investment Advisers and Research Analysts must show their complaint data every month. If you have an issue, you can report it on SCORES 2.0 or through the ODR platform.
- The Investor Charter must be displayed clearly on all websites, apps, and should be given to you when you start using the service.
This move by SEBI is a solid push toward making the advisory space more transparent and investor-friendly. With clearly defined roles and expectations it helps build long-term trust between investors and advisers.
Ever taken advice from a registered adviser or thinking about it?
Make sure to keep these points in mind a little awareness can go a long way in protecting your money.