SEBI-mandated charter setting out the standards, services, and grievance redressal commitments of Visual Securities Pvt Ltd as a stock broker.
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.
| S. No. | Activity | Expected timeline |
|---|---|---|
| 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 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 |
Approach the Stock Broker at the designated Investor Grievance e-mail ID (Visual_securities@yahoo.co.in). The Stock Broker will strive to redress the grievance immediately, but not later than 30 days of the receipt of the grievance.
If not resolved at Level 1, approach the Stock Exchange using the grievance mechanism published on the respective exchange's website (NSE / BSE).
| S. No. | 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 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 up to ₹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 ₹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. |
Download the SEBI DOs & DON'Ts guide: DOs and DON'Ts (PDF).
Visual Securities Pvt Ltd acts as a Depository Participant of NSDL (SEBI Registration IN-DP-351-2017, DP-id IN304220). The NSDL Investor Charter for depository services sets out the rights and responsibilities of beneficial owners, the services we provide, and the grievance redressal mechanism.
