Capital markets regulator Sebi on Monday proposed ways to strengthen the existing complaint redressal process in the securities market by making use of online dispute resolution mechanisms.
In its consultation paper, the regulator has suggested measures to deepen the existing Market Infrastructure Institution or MII-administered mediation and arbitration mechanism by making these processes more accessible and effective.
MIIs are stock and commodities exchanges and depositories.
Further, Sebi said these processes should be conducted online on an end-to-end basis using the capacity, technology, and other assistance of online dispute resolution institutions and proposed to modify the existing processes for the benefit of the investor.
The proposed modifications in the existing MII-administered mediation and arbitration mechanism include re-labelling the IGRC (Investor Grievance Redressal Committee) process, providing for a sole mediator or arbitrator irrespective of the amount of the
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