SEBI Compliances | The Chartered Solutions (SEBI RA – INH000013703)

SEBI Compliance Obligations

The Chartered Solutions (Legal: Anubhav Sharma), a SEBI-registered Research Analyst (RA No. INH000013703) adheres strictly to all SEBI compliance norms issued up to August 2025.

1. Qualification, Registration & Deposits

  • Must hold valid NISM-Series-XV certification (renewal acceptable).
  • Deposit requirement based on client count (₹1L to ₹10L): compliance deadline April 30 2025.

2. Compliance Officer & Infrastructure

  • Non-individual RAs must appoint a Compliance Officer (CS/CA/CMA with NISM).
  • Principal Officer must be designated and appropriately qualified.
  • Maintain minimum prescribed infrastructure and “fit and proper” criteria.

3. Client Consent, Terms & Segregation

  • Disclose standard MITC (Most Important Terms & Conditions) and obtain client consent by June 30 2025.
  • Segregate research and distribution services at client level; existing rules effective June 30 2025.

4. Fees & Refunds

  • Maximum fee ₹1.51 Lakh per year per family/HUF; non-individual clients exempt.
  • Advance fees limited to one quarter; unused portion refundable.

5. KYC, Recordkeeping & Communication

  • Perform KYC for all fee-paying clients; record PAN, interactions, consent, research rationale, communications (email/call/SMS).
  • Retain records until resolution or as required by SEBI.

6. AI Usage Disclosure

  • Disclose use of AI tools and ensure data security; existing clients informed by April 30 2025.

7. Website & Audit

  • Maintain functional website with mandatory disclosure; confirm to SEBI/RAASB by June 30 2025.
  • Undergo annual compliance audit; report submission within 1 month; publish audit results on website.

8. Trading Restrictions & Disclosures

  • No front-running: Cannot trade securities covered in reports (30 days before, 5 days after).
  • Disclose RA registration number and financial interests in every report.

9. Disclaimer & MITC

Disclaimer: The research services provided are for informational purposes only and are not intended to be investment advice. All clients must consider that:
  • Investments based on our research are subject to market risks.
  • Past performance does not guarantee future results.
  • Clients should make their own judgment before acting on any research.
  • We do not guarantee returns or profits.
Most Important Terms & Conditions (MITC):

As per SEBI Circular dated February 17, 2025, Research Analysts must disclose the following key terms and conditions to clients, and obtain their consent before providing services:

  1. The RA cannot execute trades on behalf of the client—clients should not authorize such transactions.
  2. Fee limit: Maximum ₹1,51,000 per annum per family (only for Individual/HUF clients). Not applicable to non-individual or accredited investors.
  3. Advance fee: If charged, it must not exceed one quarter. Clients ending services early must receive a pro-rata refund.
  4. No assured or guaranteed returns schemes allowed.
  5. Clients bear investment risks. Research outcomes are not assured.
  6. Payments only via approved methods (cheque, UPI, online transfer). Cash not permitted. Optional: CeFCoM mechanism.
  7. RA must disclose any conflicts of interest promptly to clients.

Existing clients must be informed of these MITC by June 30, 2025 via preservable mode (email/SMS). New clients must receive and consent immediately.

Summary Timeline
  • April 30 2025: Deposit & AI disclosure deadlines
  • June 30 2025: Website, MITC, KYC, segregation, recordkeeping, and audit publication

Document last updated: 24 August 2025 | SEBI Research Analyst Reg. No.: INH000013703