INDIA: SEBI Publishes Consultation Paper on Strengthening the Investor Grievance Redressal Mechanism

Thursday December 22 2022

On 21^st December 2022, the Securities and Exchange Board of India (SEBI) announced that it has proposed to strengthen the Investor Grievance Redressal Mechanism in the Indian Securities Market by harnessing Online Dispute Resolution mechanisms. SEBI has published a Consultation Paper on the same. 

In order to streamline and strengthen the mediation and arbitration process in the Indian Securities Market, the following proposals are being considered: 

Strengthening the existing MIIs (Market Infrastructure Institutions) administered mediation and arbitration mechanism, by making these processes more accessible and effective: 

• By suggesting that these processes are conducted online on an end-toend basis using the capacity, technology, and other assistance of online dispute resolution institutions; 
• By modifying these processes for the benefit of the investor. 

Extending the MIIs administered mediation and arbitration mechanism as modified above for resolution of investor/client grievances in respect of all specified securities market intermediaries. This will make the grievance redressal process more simplified, streamlined and efficient for the investors. 

A consultation paper elaborating the proposals (mentioned at points 1 and 2 above), has been uploaded on the SEBI website for seeking inputs from the public.  

The last date for submission of public comments is January 09^th, 2023. 

Click on the above link for further information