Markets regulator Sebi on Monday launched the brand new model of SCORES in a bid to strengthen the investor grievance redressal mechanism by introducing auto-routing of complaints and monitoring such grievances by designated our bodies.
SEBI Criticism Redress System (SCORES) is a web based system the place traders within the securities market can lodge their complaints by way of net URL and an app. It was launched in June 2011.
“The brand new model of SCORES strengthens the investor grievance redress mechanism within the securities market by making the method extra environment friendly by way of auto-routing, auto-escalation, monitoring by the designated our bodies and discount of timelines,” Sebi stated in an announcement.
Additionally Learn : Gold Costs In India Attain File Excessive Amid International Tendencies
Sebi stated that traders can lodge complaints solely by way of a brand new model of SCORES from April 1, 2024. Within the outdated SCORES, traders wouldn’t have the ability to lodge any new grievance, nonetheless, traders can verify the standing of their complaints already lodged in outdated SCORES. Additional, the disposed of complaints filed within the outdated SCORES may be considered at SCORES 2.0.
The regulator stated that the outdated app has been discontinued and a brand new app as a replacement might be launched quickly.
Underneath the brand new model of SCORES, the regulator has launched auto-routing of complaints to the involved regulated entity to get rid of time lapses within the circulate of complaints.
Different options embrace uniform timelines for redressal of investor complaints throughout the securities market — 21 calendar days from date of receipt of grievance — and monitoring well timed redressal of the traders’ complaints by the designated our bodies.
Additionally, the brand new model offers two ranges of review– first overview by the ‘Designated Physique’, if the investor is dissatisfied with the decision supplied by the involved regulated entity, and second overview by Sebi if the investor continues to be dissatisfied after the primary overview.
Additional, the regulator has launched auto-escalation of grievance to the following stage in case of non-adherence to the prescribed timelines by the regulated entity or the designated physique because the case could also be.
The brand new model offers integration with KYC Registration Company database for simple registration of the investor on to SCORES.
(This report has been printed as a part of the auto-generated syndicate wire feed. Aside from the headline, no enhancing has been completed within the copy by ABP Stay.)
 is an online system where investors in the securities market can lodge their complaints through web URL and an app. It was launched in June 2011){kind=link}