From next year, registered investment advisors (RIAs) will have to mandatorily publish investor complaint data on their website or mobile application every month, SEBI said in a circular on Monday.
The regulator said the data will have to be disclosed by 7th of the succeeding month. RIAs who do not have a website or mobile application will have to send the details of complaint to each investor through email.
The format for publishing complaint data can be accessed here.
Additionally, SEBI has published the investor charter relating to RIAs. The regulator has asked RIAs to publish the charter on their website or mobile applications.
The services that RIAs have to mandatorily provide include sharing of agreement copy and completing KYC of clients. They also have to make complete disclosure to clients regarding business, affiliations and compensation.
The charter contains details such as the services that RIAs can offer, the rights of investors, grievance redressal mechanism and responsibilities of the investors.
For complete investor charter, click here.
