Most Important Terms and Conditions

These are the Most Important Terms and Conditions (MITC) for research services provided by Front Wave Research LLP, SEBI-registered Research Analyst (Reg. No. INH000018407). They are in addition to, and read with, our Terms of Use.

1. Registration. Front Wave Research LLP is registered with SEBI as a Research Analyst under the SEBI (Research Analysts) Regulations, 2014, bearing registration number INH000018407.
2. No assurance of returns. Registration granted by SEBI, and certification from NISM, in no way guarantee the performance of the Research Analyst or provide any assurance of returns to investors. We do not promise or guarantee any return, profit, or protection against loss.
3. Nature of services. We publish research reports and recommendations on securities. Our research is impersonal — it does not take into account your individual investment objectives, financial situation, risk appetite or particular needs, and it does not constitute investment advice or portfolio management.
4. Your decision. Any investment decision taken on the basis of our research is your own. You should consider your own circumstances and, where appropriate, consult a SEBI-registered Investment Adviser before acting.
5. Risk. Investment in securities markets is subject to market risks, including the possible loss of the principal amount invested. Past performance is not indicative of future results.
6. Fees. Fees are as published on our subscription page and are payable in advance for the subscription period chosen. Fees charged to individual and HUF clients remain within the maximum prescribed by SEBI for research services. Fees are payable only through banking channels to the registered entity — never in cash and never to a personal account.
7. No trading on your behalf. We do not execute trades, hold client funds or securities, operate any trading account, or accept any power of attorney. You should never share your trading credentials or one-time passwords with us or anyone else.
8. Conflicts of interest. Any holding or interest of the firm or the analyst in a security covered by a report is disclosed in that report and on our disclosures page.
9. Simultaneous distribution. Research is distributed to all entitled recipients at the same time. No recipient receives a recommendation ahead of others.
10. Termination and refunds. Either party may terminate the subscription in accordance with our refunds and cancellation policy. On termination, access ends at the close of the paid period.
11. Confidentiality. Your personal information is kept confidential and is not shared except as required by law or by a regulator. See our privacy policy.
12. Grievances. Complaints may be raised at support@frontwaveresearch.com. If unresolved, they may be escalated to SEBI via SCORES or to online dispute resolution at smartodr.in. Our escalation matrix and complaints data are published on the complaints page.