Section 21 in Securities and Exchange Board of India (Investment Advisers) Regulations, 2013
21. Redressal of client grievances.
(1)An investment adviser shall redress client grievances promptly.(2)An investment adviser shall have adequate procedure for expeditious grievance redressal.(3)Client grievances pertaining to financial products in which investments have been made based on investment advice, shall fall within the purview of the regulator of such financial product.(4)Any dispute between the investment adviser and his client may be resolved through arbitration or through Ombudsman authorized or appointed for the purpose by any regulatory authority, as applicable.
