SEBI
unveils SCORES 2.0 to strengthen investor redressal
SEBI launched the new version of the SEBI Complaint Redress System
(SCORES 2.0) on Monday. The new version of SCORES strengthens the investor
complaint redress mechanism in the securities market by making the process more
efficient through auto-routing, auto-escalation, monitoring by the designated
bodies and reduction of timelines, the regulator said in a note.
SCORES
is an online system where investors in securities market can lodge their
complaints through web URL and an app.
Reduced
timeline
SCORES
2.0 will feature reduced and uniform timelines for redressal of investor
complaints, which is 21 calendar days from date of receipt of the complaint.
Currently, entities are required to submit the action taken report not later
than 30 days.
An
auto-routing of complaints to the concerned regulated entity will be
facilitated to eliminate time lapses, if any, in the flow of complaints.
There
will be two levels of review. First review will be by the designated body if
the investor is dissatisfied with the resolution provided by the concerned
regulated entity. The second review will be by SEBI if the investor is still
dissatisfied after the first review.
SCORES
2.0 will be integrated with KYC Registration Agency database for easy
registration of the investor on to SCORES.
www.thehindubusinessline.com
dt. 02.04.2024