Investor Charter Stock Broker
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.
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
Rights of Investors
Various activities of Stock Brokers with timelines
KYC entered into KRA System and CKYCR
10 days of account opening
Immediate, but not later than one week
Immediate on receipt of order, but not later than the same day
Allocation of Unique Client Code
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
Issuance of contract notes
24 hours of execution of trades
Collection of upfront margin from client
Before initiation of trade
Issuance of intimations regarding other margin due payments
At the end of the T day
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
'Statement of Accounts' for Funds, Securities and Commodities
Weekly basis (Within four trading days of following week)
Issuance of retention statement of funds/commodities
5 days from the date of settlement
Issuance of Annual Global Statement
30 days from the end of the financial year
Investor grievances redressal
30 days from the receipt of the complaint
Dos and DON’T’s for Investors
Read all documents and conditions being agreed before signing the account opening form.
Do not deal with 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 name of employee of 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 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, 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.
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
Receipt of Complaint
Day of complaint (C Day).
Additional information sought from the client/ investor, if any, and provisionally forwarded to concerned officer.
C+2 Working days.
Registration of the complaint and forwarding to the concerned officer.
C+3 Working Days i.e. T day.
T+7 Working Days.
Refer to Grievance Redressal Committee (GRC), in case of no amicable resolution.
T+8 Working Days.
Complete resolution process post GRC.
T + 30 Working Days.
In case where the GRC Member requires additional information, GRC order shall be completed within.
T + 45 Working Days.
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.
In case the stock broker is aggrieved by the GRC order, will provide intention to avail arbitration
Within 7 days from receipt of order
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.
Stock Broker shall file for arbitration
Within 6 months from the date of GRC recommendation
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