Sebi on Thursday asked merchant bankers to disclose investor charter as well as data pertaining to complaints they received on their websites for private placement of units by infrastructure investment trusts (InvITs) that are proposed to be listed.

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The new guidelines will come into effect from January 1, 2022, the Securities and Exchange Board of India (Sebi) said in a circular. With a view to providing investors relevant information about the primary market issuances by InvITs, an investor charter has been prepared by Sebi in consultation with merchant bankers for private placement of units by InvITs propose to be listed.

The charter is a brief document containing different services to investors at a single place for ease of reference.
In a circular, Sebi has asked all registered merchant bankers to disclose on their websites, the charter for private placement of units by InvITs proposed to be listed.

Additionally, in order to bring about transparency in the investor grievance redressal mechanism, tne regulator has directed merchant bankers to disclose on their respective websites, the data on complaints received against them or against issues dealt by them. The data need to be disclosed latest by 7th of succeeding month, Sebi said.

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In addition, the regulator has also prescribed a format for disclosing data of complaints on their websites.

Under the disclosure, merchant bankers will have to disclose about complaints received during the month, complaints carried forward from the preceding month, resolved, total pending complaints, complaints pending for more than three months and average time taken in resolution of a complaint.

Earlier, Sebi had asked investment advisers, research analysts, Registrar and Share Transfer Agents (RTAs), merchant bankers, brokers, mutual funds, portfolio managers and alternative investment funds to disclose on their websites, the investor charter for a bunch of categories.

Besides, it had directed exchanges, depositories and clearing corporations to disclose on their websites, the data on complaints received against them and redressal thereof.

This came after Sebi regulator came out with investor charter in November. This charter includes the rights and responsibilities of investors, and dos and don'ts of investing in the securities market. The charter is aimed at protecting the "interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner".

The rights include getting fair and equitable treatment, expecting redressal of investor grievances filed in SCORES in a time bound manner.

Also, the market regulator created a separate investor charter for market infrastructure institutions-- stock exchanges, clearing corporations and depositories.