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MUMBAI: Markets regulator Sebi on Monday requested all shares and commodities exchanges in addition to depositories to arrange on-line criticism submitting and monitoring methods for buyers inside six months. It additionally mentioned that after the onset of the Covid pandemic, the investor grievance redressal system was moved to the web mode. Given its advantages, exchanges and depositories ought to proceed to have a hybrid mode for such methods, Sebi mentioned.
Sebi already has such a system in place — Sebi Complaints Redress System (SCORES) —which is greater than a decade outdated. The regulator requested bourses and depositories to comply with the identical mannequin. The brand new system is aimed toward expediting redressal or disposal of buyers’ complaints as it might additionally obviate the necessity for bodily motion of complaints, it added. The system must be net enabled, present on-line entry around the clock and may have a provision to hyperlink Sebi’s SCORES course of.
Sebi additionally doubled the brink restrict for charges paid by buyers preferring an arbitration continuing in case of a declare or a counterclaim of their dealings with a market middleman. If such claims are as much as Rs 20 lakh, no charges can be paid. Earlier this restrict was Rs 10 lakh.
Sebi already has such a system in place — Sebi Complaints Redress System (SCORES) —which is greater than a decade outdated. The regulator requested bourses and depositories to comply with the identical mannequin. The brand new system is aimed toward expediting redressal or disposal of buyers’ complaints as it might additionally obviate the necessity for bodily motion of complaints, it added. The system must be net enabled, present on-line entry around the clock and may have a provision to hyperlink Sebi’s SCORES course of.
Sebi additionally doubled the brink restrict for charges paid by buyers preferring an arbitration continuing in case of a declare or a counterclaim of their dealings with a market middleman. If such claims are as much as Rs 20 lakh, no charges can be paid. Earlier this restrict was Rs 10 lakh.
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