In exercise of the powers conferred by section 31 of the Securities Contracts Regulation Act, 1956 42 of 1956, section 30 read with section 11 of the Securities and Exchange Board of India Act

REGD. No. D. L.-33004/99 The Gazette of India CG-MH-E-10022025-260877 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 102] NEW DELHI, MONDAY, FEBRUARY 10, 2025/MAGHA 21, 1946 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 10th February, 2025 SECURITIES AND EXCHANGE BOARD OF INDIA (INVESTOR CHARTER) (AMENDMENT) REGULATIONS, 2025 F. No. SEBI/LAD-NRO/GN/2025/228.—In exercise of the powers conferred by section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), section 30 read with section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) and section 25 of the Depositories Act, 1996 (22 of 1996), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993, the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, the Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994, the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, the Securities and Exchange Board of India (Custodian) Regulations, 1996, the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011, the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, the Securities and Exchange Board of India (Real Estate Investment Trusts), Regulations, 2014, the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020, the Securities and Exchange Board of India (Vault Managers) Regulations, 2021 namely:— 1. These regulations may be called the Securities and Exchange Board of India (Investor Charter) (Amendment) Regulations, 2025. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, after regulation 18D, the following regulation shall be inserted, namely,— "Investor Charter. 18DA. The stock broker shall ensure compliance with the Investor Charter specified by the Board from time to time." 4. In the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, after regulation 28C, the following regulation shall be inserted, namely,— "Investor Charter. 28D. The merchant banker shall ensure compliance with the Investor Charter specified by the Board from time to time." 5. In the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993, after regulation 15C, the following regulation shall be inserted, namely, — "Investor Charter. 15D. The registrar to an issue and share transfer agent shall ensure compliance with the Investor Charter specified by the Board from time to time." 6. In the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993, after regulation 14B, the following regulation shall be inserted, namely, — "Investor Charter. 14C. The debenture trustee shall ensure compliance with the Investor Charter specified by the Board from time to time." 7. In the Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994, after regulation 16B, the following regulation shall be inserted, namely, — "Investor Charter. 16C. The banker to an issue shall ensure compliance with the Investor Charter specified by the Board from time to time." 8. In the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, after sub-regulation 29 of regulation 25, the following sub-regulation shall be inserted, namely, “(30) An asset management company shall ensure compliance with the Investor Charter specified by the Board from time to time." 9. In the Securities and Exchange Board of India (Custodian) Regulations, 1996, after regulation 20, the following regulation shall be inserted, namely, — "Investor Charter. 20A. The custodian shall ensure compliance with the Investor Charter specified by the Board from time to time." 10. In the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011, after clause (p) of regulation 15, the following clause shall be inserted namely, "(q) The KRA shall ensure compliance with the Investor Charter specified by the Board from time to time." 11. In the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, after sub- regulation 22 of regulation 20, the following sub-regulation shall be inserted, namely, "(23) The Alternative Investment Fund shall ensure compliance with the Investor Charter specified by the Board from time to time." 12. In the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, after sub-regulation 14 of regulation 15, the following sub-regulation shall be inserted, namely, "(15) An investment adviser shall ensure compliance with the Investor Charter specified by the Board from time to time." 13. In the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, after sub-regulation 8 of regulation 24, the following sub-regulation shall be inserted, namely, — "(9) A research analyst shall ensure compliance with the Investor Charter specified by the Board from time to time." 14. In the Securities and Exchange Board of India (Real Estate Investment Trusts), Regulations, 2014, after sub- regulation 30 of regulation 10, the following sub-regulation shall be inserted, namely, "(31) The manager shall ensure compliance with the Investor Charter as may be specified by the Board from time to time." 15. In the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, after sub- regulation 28 of regulation 10, the following sub-regulation shall be inserted, namely, — “(29) The investment manager shall ensure compliance with the Investor Charter as may be specified by the Board from time to time." 16. In the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, after regulation 40, the following regulation shall be inserted, namely, — "Investor Charter. 40A. The depository participant shall ensure compliance with the Investor Charter specified by the Board from time to time." 17. In the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, after regulation 31, the following regulation shall be inserted, namely, — "Investor Charter. 31A. The designated depository participant shall ensure compliance with the Investor Charter specified by the Board from time to time." 18. In the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020, after sub-regulation 11 of regulation 23, the following sub-regulation shall be inserted, namely, — “(12) The portfolio manager shall ensure compliance with the Investor Charter specified by the Board from time to time." 19. In the Securities and Exchange Board of India (Vault Managers) Regulations, 2021, after regulation 16B, the following regulation shall be inserted, namely, — "Investor Charter. 16C. The Vault Manager shall ensure compliance with the Investor Charter specified by the Board from time to time." BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./959/2024-25]