Securities Exchange Board of India (“SEBI”), National Stock Exchange (“NSE”) and Central Depository Services (India) Limited (“CDSL”) have issued circulars in reference to Circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 (“Circular”) [please refer to e-mail in trail for reference] extending the timelines as specified in the said Circular.
The effective date of the workflow of processing investor grievances and the framework for monitoring and handling complaints by Designated Bodies has been extended to April 1, 2024 which was originally set for December 04, 2023.
Additionally, Designated Bodies mentioned in Schedule II of the circular are granted an extension to apply for SCORES Authentication and/or Application Programming Interface (API) integration with SCORES to ensure compliance with the circular by April 1, 2024.
Consequently, Circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 will revoke the Master Circular on investor grievance redressal through the SCORES platform, SEBI/HO/OIAE/IGRD/P/CIR/2022/0150, dated November 07, 2022, effective from April 01, 2024.
Despite this, entities are still required to submit the Action Taken Report (ATR) on SCORES within 21 calendar days from the complaint receipt, following the guidelines outlined in the September 20, 2023 circular.
For a detailed read, please refer to the hyperlinks below.
Source : Securities Exchange Board of India, National Stock Exchange
