Tuesday November 8 2022

News Source: Global Exchanges

Focus: General - Global Exchanges

Type: General

Country: India

Link: https://bit.ly/3T9UWYp




On 7th November 2022, the Securities and Exchange Board of India (SEBI) issued a circular on redressal of investor grievances through the SEBI Complaints Redress System (SCORES) platform

SEBI launched a centralized web-based complaints redress system ‘SCORES’ in June 2011. The purpose of SCORES is to provide an administrative platform for aggrieved investors, whose grievances, pertaining to the securities market, remain unresolved by the concerned listed company, registered intermediary or recognized market infrastructure institutions (MIIs)

SEBI had been receiving inputs from listed companies, registered intermediaries and recognised  MIIs  that  such  investor  grievances  may  be  resolved  faster  if  these grievances  are  taken  up  directly  with  the  entity  concerned  at  the  first  instance it is now mandatory for investors to first take up their grievances for redressal with the entity concerned, through their designated persons/officials who handle issues relating to compliance and redressal of investor grievances.

The investors may contact the Investor Associations (IAs) recognized by SEBI for any assistance in filing complaints on SCORES. The list of IAs is available on SEBI website.

Investors who wish to lodge a complaint on SCORES (complainant) are required to register themselves on www.scores.gov.in by clicking on “Register here” under the Investor Corner.

The complainant may use SCORES to submit the complaint or grievance directly to the listed companies / intermediaries / MIIs for resolution. Such a complaint is called a “Direct Complaint” and shall be redressed by the entity within 30 days without any intervention of SEBI, failing which the complaint shall be registered on SCORES.  Thereafter, SEBI shall take it up with the entity concerned.

  • SCORES Authentication for intermediaries and MIIs
  • SCORES Authentication for companies intending to list their securities on SEBI recognized stock exchanges
  • Handling  of  complaints  by  stock  exchanges  against  certain  listed companies
  • Action for failure to redress investor complaints by such listed companies
  • Action after redressal of investor grievance by such listed companies

Click on the above link for further information