To follow highest standards of ethics and compliances while facilitating the trading by clients in securities in a fair and transparent manner, so as to contribute in creation of wealth for investors.
Services provided to Investors
Rights of Investors
Various activities of Stock Brokers with timelines
|1.||KYC entered into KRA System and CKYCR||10 days of account opening|
|2.||Client Onboarding||Immediate, but not later than one week|
|3.||Order execution||Immediate on receipt of order, but not later than the same day|
|4.||Allocation of Unique Client Code||Before trading|
|5.||Copy of duly completed Client Registration Documents to clients||7 days from the date of upload of Unique Client Code to the Exchange by the trading member|
|6.||Issuance of contract notes||24 hours of execution of trades|
|7.||Collection of upfront margin from client||Before initiation of trade|
|8.||Issuance of intimations regarding other margin due payments||At the end of the T day|
|9.||Settlement of client funds||30 days / 90 days for running account settlement (RAS) as per the preference of the client. If consent not given for RAS - within 24 hours of pay-out|
|10.||'Statement of Accounts' for Funds, Securities and Commodities||Weekly basis (Within four trading days of the following week)|
|11.||Issuance of retention statement of funds/commodities||5 days from the date of settlement|
|12.||Issuance of Annual Global Statement||30 days from the end of the financial year|
|13.||Investor grievances redressal||30 days from the receipt of the complaint|
DOs and DON’Ts for Investors
|Read all documents and conditions being agreed before signing the account opening form.||Do not deal with an unregistered stock broker.|
|Receive a copy of KYC, copy of account opening documents, and Unique Client Code.||Do not forget to strike off blanks in your account opening and KYC.|
|Read the product/operational framework/timelines related to various Trading and Clearing & Settlement processes.||Do not submit an incomplete account opening and KYC form.|
|Receive all information about brokerage, fees, and other charges levied.||Do not transfer funds for the purposes of trading to anyone other than a stock broker. No payment should be made in the name of an employee of a stock broker.|
|Register your mobile number and email ID in your trading, demat, and bank accounts to get regular alerts on your transactions.||Do not ignore any emails/SMSs received with regards to trades done, from the Stock Exchange, and raise a concern if a discrepancy is observed.|
|If executed, receive a copy of Power of Attorney. However, Power of Attorney is not a mandatory requirement as per SEBI/Stock Exchanges. Before granting Power of Attorney, carefully examine the scope and implications of powers being granted.||Do not opt for digital contracts if not familiar with computers.|
|Receive contract notes for trades executed, showing transaction price, brokerage, GST and STT, etc. as applicable, separately, within 24 hours of execution of trades.||Do not share trading password.|
|Receive funds and securities/commodities on time within 24 hours from pay-out.||Do not fall prey to fixed/guaranteed returns schemes.|
|Verify details of trades, contract notes, and statement of account and approach relevant authority for any discrepancies. Verify trade details on the Exchange websites from the trade verification facility provided by the Exchanges.||Do not fall prey to fraudsters sending emails and SMSs luring to trade in stocks/securities promising huge profits.|
|Receive statement of accounts periodically. If opted for running account settlement, the account has to be settled by the stockbroker as per the option given by the client (30 or 90 days).||Do not follow herd mentality for investments. Seek expert and professional advice for your investments.|
|In case of any grievances, approach stockbroker or Stock Exchange or SEBI for getting the same resolved within prescribed timelines.||Do not forget to inform any change in information linked to the trading account and obtain confirmation of updation in the system.|
Grievance Redressal Mechanism
Level 1 – Approach the Stock Broker at the designated Investor Grievance e-mail ID of the stock broker. The Stock Broker will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.
Level 2 – Approach the Stock Exchange using the grievance mechanism mentioned at the website of the respective exchange.
Complaints Resolution Process at Stock Exchange explained graphically:
Timelines for complaint resolution process at Stock Exchanges against stock brokers
Type of Activity
Timelines for activity
|1.||Receipt of Complaint||Day of complaint (C Day)|
|2.||Additional information sought from the investor, if any, and provisionally forwarded to stock broker||C + 7 Working days|
|3.||Registration of the complaint and forwarding to the stock broker||C + 8 Working Days i.e. T day|
|4.||Amicable Resolution||T + 15 Working Days|
|5.||Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution||T + 16 Working Days|
|6.||Complete resolution process post GRC||T + 30 Working Days|
|7.||In case where the GRC Member requires additional information, GRC order shall be completed within||T + 45 Working Days|
|8.||Implementation of GRC Order||On receipt of GRC Order, if the order is in favour of the investor, debit the funds of the stock broker. Order for debit is issued immediately or as per the directions given in GRC order.|
|9.||In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration||Within 7 days from receipt of order|
|10.||If intention from stock broker is received and the GRC order amount is upto Rs.20 lakhs, Investor is eligible for interim relief from Investor Protection Fund (IPF). The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor.||Investor is eligible for interim relief from Investor Protection Fund (IPF).The interim relief will be 50% of the GRC order amount or Rs.2 lakhs whichever is less. The same shall be provided after obtaining an Undertaking from the investor.|
|11.||Stock Broker shall file for arbitration||Within 6 months from the date of GRC recommendation|
|12.||In case the stock broker does not file for arbitration within 6 months, the GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any.||The GRC order amount shall be released to the investor after adjusting the amount released as interim relief, if any.|
Handling of Investor’s claims / complaints in case of default of a Trading Member / Clearing Member (TM/CM)
Default of TM/CM
Following steps are carried out by Stock Exchange for benefit of investor, in case stock broker defaults:
Following information is available on Stock Exchange website for information of investors:
Level 3 – The complaint not redressed at Stock Broker / Stock Exchange level, may be lodged with SEBI on SCORES (a web based centralized grievance redressal system of SEBI) @ https://scores.gov.in/scores/Welcome.html
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Einstein taught us about relativity in nature. Now come Devina Mehra and Shankar Sharma of First Global to teach us about relativity in financial markets -- and raise some serious questions about just what is driving stock prices.
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We can load above testimonials on site as a scroller, and just below that we can add a section for compliments . Below tweets are comments and praises are related to our content, performance and some our direct compliments to you.
ADIT PATEL @ADITPAT11226924
Good team... Special mention @KarmathNaveen .. he is soo helpful anytime of the day or night..
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I have 8 small cases and your has been the most rewarding ones .. thank you Devina.
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There is absolutely no doubt that she is one of the best investors of India in modern times but more importantly, she shares the most sincere and sane advice with retail investors.
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"The ability to be comfortable with being outside consensus is a superpower in investing...and in life." Devina ji hits the nail on its head!
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Congratulations @devinamehra mam! All the best for long term returns as well.
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This is the wonderful session I have ever attended till date. One of the most fruitful hour of my life. Devina madam, ur clarity on financial mkts is simply superb.The way u portray the facts supported by "data" about stock mkts is really astonishing.I will listen again.Thanks.
I loved to read your journey, insight and philosophy. It's a pleasure to read and know of your takes on market and life.
Check & follow @devinamehra's timeline for lots of post debunking such rosy stories. Also, she gives amazing 🤩 sector directions/hints.
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Good actionable insights, great article!
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One of the most accurate analysts :) I always look forward to you interviews mam
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Madam, It is always a treat to read your insight, not only on business but on other topics also!!
Thanks for this wisdom ma'am. Always love hearing your thoughts on everything equity. :-)
Excellent points! Can clearly feel this thread is a product of marination of many books and years of experience. 👍
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Follower on Twitter and Subsciber on YouTube of First Global, really helping me in my investment desicion. Thanks
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