Policy Investor grievances policy and redressal

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INVESTOR GRIEVANCE MECHANISM



SEBI Rules, Regulations and Circular Reference No.

    •    Regulation 6A(1) (e) & 26 (iv) of Stock broker regulation

         Redressal of grievances of the investors within one month of the date of receipt of the complaint.

    •    MRD/DoP/Dep/SE/Cir-22/06 dated December 18, 2006

         All the brokers/sub-brokers are to designate an e-mail ID of the grievance redressal division/compliance
         officer exclusively for the purpose of registering complaints by investors.



Policy: Investor grievances policy

All investors are free to communicate their grievances through our dedicated investor grievances email id:
kmscomplain@gmail.com or through our investor grievances register kept in all our offices at convenient accessible
place. Investors will be assured prompt reply and resolution to their grievances. The process for prompt redressel would
entail the following steps:
·       Nature of grievance- whether monetary, documentary requirement or otherwise
·       If monetary- then the cause and the veracity needs to be established. If the veracity is established by our back office
then the client can expect quick dissipation. If veracity is denied by our back office, then the client would be duly
informed with facts and figures.
·       If non-receipt of a document- then the back office manager would ensure that the documents are despatched
immediately or a duplicate copy is forwarded to the client.
·       Other grievances- solution to be decided only after collating the details.


Maintenance of records for Investor Grievances

    1. Complaint Register:

    To be kept by Broker at all offices (at HO, Branch and at sub-broker’s office)

    2. Dedicated Investor Grievance Email ID:

    To be informed to investors/clients through Welcome letter, Contract Notes and on Website.

    3. Investor Grievance handling Mechanism:

    Documented Policy for Investor grievance handling to be specified for e.g. Compliance officer regularly
    access investor grievance e mail ID and Complaint Register to verify for the complaints if any.

    Internal Audit Requirement
 a      Number and value of investor complaints pending at the beginning of half year:-




 b      Number and value of investor complaints received during half year

 c      Number and value of investor complaints resolved during half year

 d      Number & value of investor complaints pending as on the last day of half year

 e      Give breakup of the pending investor complaints from branch/Head office/sub broker


 f      Comment on investor grievance handling mechanism of the member.

 g      Summary on nature of complaints received and action taken by the member

 h      What is the duration of the longest pending investor complaint?

 i      Whether specific action plan is framed by the member in respect of long pending
        complaints?

 j      Whether designated email id for investor grievance is created and informed to the
        investors?

 k      Whether complaints received on the designated email ID are being looked into to address
        the same?




Common questions:- (to be addressed)

     1. To provide one annexure which covers reconciliation if the list is big?

     2. Arbitration is to be considered if it is in progress. If judgment came than no need to mention it.

     3. To obtain snapshot of e mail ID in box.

     4. Duration means last reply of complaints

     5. E mail ID should be specific for investor grievances only

     6. E mail ID to be informed through KYC/CN
INVESTOR COMPLAINT REDRESSAL MECHANISM

1.   The Company KMS STOCK BROKING CO.LTD has a designated investor grievances email ID
     kmscomplain@gmail.com on which the client can register a complaint.


2.   An Investor / Client can also make a written complaint through letter.


3.   The company maintains Investor Grievance Register in which full details of written complaint shall be entered.


4.   Compliance officer will login the Designated Investor Grievances email ID on daily basis to look after the investor
     complaint whether new complaint has been lodged or not.
        At the end of day, we checked our mail box for investor grievances and retrieve if any complaint. And we
        follow up with client to resolve the complaint till his satisfaction. Periodically feedback by concerned officer is
        obtained.

        In case of long pending complaints we immediately takes follow up if there is no response from client side.
        Our reply and clarification goes immediately after receiving the same. If the same is outstanding at exchange
        side we also call exchange official to know the status of the complaint. Our director personally attends the
        complaint at IGRC and arbitration.



5.   The full detail of the written complaint must be passed to the concerned Department        and inform the compliance
     officer of the company as soon as it is received.


6.   A letter or mail must be written to all the investor who have submitted written complaints by the Compliance Officer
     acknowledging receipt of the complaint and informing them it will be dealt with.


7.   Compliance Department will obtain all information available on the complaint which is considered necessary for a
     proper investigation. Look into all the necessary information and resolve the as soon as possible.


8.   There is standing policy of the company to resolve the investor complaint within seven days of the receipt of the
     same expect the complicated case.


9.   A serious complaint (where the written response does not settle the issue) must be Referred to the director of the
     company.


10. The Compliance Officer of the Company shall review the investor complaint register on Weekly basis to find out
     whether complaint has been resolved within time or not.