In a recent press release, the Securities and Exchange Board of India (“SEBI”) has announced the launch of the new version of SEBI Complaints Redressal System (“SCORES 2.0”) to further strengthen the investor complaints redressal mechanism and making it more user-friendly.
Investors can lodge complaints only through new version of SCORES (https://scores.gov.in) from 1st April, 2024.
Key Features of SCORES 2.0
• Reduced and uniform timelines for redressal of investor complaints across the Securities Market i.e. 21 Calendar days from date of receipt of complaint.
• Introduction of auto-routing of complaints to the concerned regulated entity to eliminate time lapses, if any, in the flow of complaints.
• Monitoring of the timely redressal of the investors’ complaints by the ‘Designated Bodies’.
• Providing two levels of review: First review by the ‘Designated Body’ if the investor is dissatisfied with the resolution provided by the concerned regulated entity. Second review by SEBI if the investor is still dissatisfied after the first review.
• Introduction of auto-escalation of complaint to the next level in case of non-adherence to the prescribed timelines by the regulated entity or the Designated Body.
• Integration with KYC Registration Agency database for easy registration of the investor on to SCORES.
Please refer to the hyperlink below for a detailed read of the press release.
Source: Securities and Exchange Board of India
