Vision
Invest with knowledge and safety.
In respect of Research Analysts (RAs)
Investor Charter
A clear statement of the services, rights, responsibilities and grievance routes available to research-service investors.
Official SEBI circularBased on the SEBI Investor Charter for Research Analysts. This Skyline-formatted page is provided for easier reading. The official SEBI circular and any subsequent amendment will prevail.
A · Vision and mission
Invest with knowledge & safety.
Mission
Every investor should be able to invest in the right products based on their needs, manage and monitor them to meet their goals, access reports and pursue financial wellness.
B
Details of business transacted
What a Research Analyst does
The Research Analyst's business with investors includes the following activities.
Publish research reports based on research activities.
Provide independent and unbiased views on securities.
Offer recommendations while disclosing financial interests in recommended securities.
Base recommendations on analysis of publicly available information and known observations.
Conduct the required annual audit.
Ensure advertisements and promotions follow the Research Analyst Advertisement Code.
Maintain required records of research-service interactions with clients and prospective clients, including pre-onboarding conversations.
C
Services provided to investors
Onboarding, disclosure and fair service
Client onboarding
- Share the terms and conditions of research services.
- Complete KYC for fee-paying clients.
Material disclosures
- Business activity, disciplinary history, associates, terms, risks and conflicts.
- Extent of AI-tool use in research services.
- Conflicts concerning third-party reports and other RA activities.
Fair distribution & conduct
- Distribute reports and recommendations without discrimination.
- Maintain confidentiality until the intended publication/distribution.
- Treat every client with honesty and integrity.
Privacy, timelines & caution
- Protect confidential client information and respect data-privacy rights.
- Disclose service timelines and seek to follow them.
- Give clear guidance and caution for complex or high-risk products.
D
Grievance redressal mechanism
Three-step escalation route
Keep a copy of the complaint, supporting records and the acknowledgement or ticket number.
Contact Skyline first
Approach the Research Analyst through the official complaint channel. Skyline will strive to redress the grievance immediately and not later than 21 days from receipt.
Open Complaint Board →Use SEBI SCORES 2.0
If unresolved, file on SCORES. The current review path provides a first review by the designated body/RAASB and a second review by SEBI.
Open SCORESSMART ODR
Where eligible and still dissatisfied, use the SMART ODR platform for online conciliation and arbitration under the applicable process.
Open SMART ODRPhysical complaints: Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051.
E
Rights of investors
Fair, transparent and accessible service
Privacy & confidentiality
Transparent practices
Adequate information
Initial & continuing disclosure
Statutory & regulatory disclosure
Service parameters & timelines
To be heard & receive redressal
Timely grievance redressal
Exit under the agreed service terms
Caution for high-risk products
Suitable access for differently abled
Provide feedback
Protection against coercive, unfair or one-sided clauses that conflict with regulatory requirements
F
Expectations from investors
Do's and don'ts
Do's
- Deal only with a SEBI-registered Research Analyst.
- Verify the valid registration certificate and SEBI registration number on the official register.
- Read the disclosures in the complete research report before investing.
- Pay only through permitted banking channels and preserve receipts. Use CeFCoM where offered.
- Check the research recommendation before buying, selling or applying in a public offer.
- Ask relevant questions and clear doubts before acting.
- Seek clarification for complex or high-risk products.
- Know your right to stop the service under the agreed terms.
- Know your right to provide feedback.
- Remember that a term conflicting with regulatory provisions cannot bind you.
- Inform SEBI about anyone offering assured or guaranteed returns.
Don'ts
- Do not give investment funds to the Research Analyst.
- Do not fall for alluring advertisements, market rumours, limited-period discounts, incentives or gifts.
- Do not share trading, demat, bank or UPI login credentials, passwords, PINs or OTPs.
- Do not allow the Research Analyst or a representative to execute trades or operate your accounts.
Remember: Skyline will never ask for your trading, demat or bank-account password, PIN or OTP.
Official reference
Read the current SEBI document.
Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/81 dated June 2, 2025. Subsequent amendments, if any, prevail.