Investor Charter Stock Broker
Vision
JBS Securities is a Vision of Leadership, Quality and Astute Advisory incorporated as a Private / Ltd. Company / Partnership / Proprietary Firm. Since 1980, we have consciously constituted ourselves as a conscientious consultant with focus on optimizing investor returns taking into account investment objectives and financial goals.
Mission
i) JBS Securities was established with a mission to provide trustworthy financial services under one roof. We strive to provide customized solutions for wealth creation and wealth growth resulting in high level of customer satisfaction with uncompromised integrity.
ii) To provide high quality and dependable service through innovation, capacity enhancement and use of technology.
iii) To establish and maintain a relationship of trust and ethics with the investors.
iv) To observe highest standard of compliances and transparency.
Services provided to Investors
- Execution of trades on behalf of investors
- Issuance of Contract Notes
- Issuance of intimations regarding margin due payments
- Facilitate execution of early pay-in obligation instructions
- Settlement of Funds
- Intimation of securities held in Client Unpaid Securities Account (CUSA) Account.
- Issuance of retention settlement of funds
- Risk management systems to mitigate operational and market risk
- Facilitate client profile changes in the system as instructed by the client.
- Redressal of Investor’s grievances
Rights of Investors
- Ask for and receive information from a firm about the work history and background of the person handling your account, as well as information about the firm itself.
- Receive complete information about the risks, obligations, and costs of any investment before investing.
- Receive crecommendations consistent with your financial needs and investment objectives.
- Receive a copy of all completed account forms and agreements.
- Receive account statements that are accurate and understandable.
- Understand the terms and conditions of transactions you undertake.
- Access your funds in a timely manner and receive information about any restrictions or limitations on access.
- Receive complete information about maintenance or service charges, transaction or redemption fees, and penalties.
- Discuss your grievances with compliance officer of the firm and receive prompt attention to and fair consideration of your concerns.
Various activities of Stock Brokers with timelines
Sr. no. | Activities | Expected 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 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
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’T’s for Investors
Sr. no. | Dos | DON’T’s |
---|---|---|
1. | Read all documents and conditions
being agreed before signing the
account opening form. | Do not deal with unregistered stock
broker. |
2. | 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. |
3. | Read the product / operational
framework / timelines related to
various Trading and Clearing &
Settlement processes. | Do not submit an incomplete
account opening and KYC Form. |
4. | 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 name of
employee of stock broker. |
5. | 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 discrepancy is
observed. |
6. | 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. |
7. | 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. |
8. | Receive funds and securities /
commodities on time within 24 hours
from pay-out. | Do not fall prey to fixed /
guaranteed returns schemes. |
9. | 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. |
10. | Receive statement of accounts
periodically. If opted for running
account settlement, account has to be
settled by the stock broker 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. |
11. | In case of any grievances, approach
stock broker or Stock Exchange or SEBI
for getting the same resolved within
prescribed timelines. |
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.
Timelines for complaint resolution process at JBS Securities
Sr. no. | Activities | Expected Timelines |
---|---|---|
1. | Receipt of Complaint | Day of complaint (C Day). |
2. | Additional information sought from
the client/ investor, if any, and
provisionally forwarded to
concerned officer. | C+2 Working days. |
3. | Registration of the complaint and
forwarding to the concerned officer. | C+3 Working Days i.e. T day. |
4. | Amicable Resolution. | T+7 Working Days. |
5. | Refer to Grievance Redressal
Committee (GRC), in case of no
amicable resolution. | T+8 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. |
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. |
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) @ Click Here