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Instructor: Team UpliftLanguage: English
The "Guidelines to Clients for filing complaints against Members" provides instructions for clients who wish to file complaints against members of the Forward Markets Commission (FMC) in India. The guidelines outline the necessary steps to follow when submitting a complaint.
Clients should first send their complaint in writing to the respective exchange with which the member is registered. After that, the complaint should be forwarded to the FMC. The complaint should be written in either English, Hindi, or any other language included in the 8th Schedule of the Constitution of India. It must be duly signed and can be sent by post, fax, or email. There is no fee charged for filing such complaints.
The jurisdiction of the Commission is limited to violations of the Forward Contract and Regulations Act, 1952, or the Forward Contracts (Regulation) Rules 1954, or the bye-laws of recognized/registered associations/exchanges. The guidelines state that enclosed documents supporting the allegations should be legible, and it is recommended to use the provided complaint format to expedite the processing of the complaint. The document also mentions the types of complaints that are ordinarily not entertained, such as illegible or anonymous complaints, trivial or frivolous nature, or those not involving specific violations of the relevant regulations.
In summary, the guidelines provide clients with clear instructions on how to file complaints against members of the FMC. They outline the required format, language, and submission process, while also specifying the types of complaints that may not be entertained. The guidelines aim to ensure a streamlined and efficient process for addressing client grievances within the jurisdiction of the Commission.
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