Markets watchdog Sebi on Wednesday decided to revamp its complaint redressal system as part of efforts to strengthen the investor grievance handling mechanism.
At its meeting here, the Sebi board cleared various measures to boost the investor grievance handling mechanism and linking SCORES (Sebi Complaint Redress System) with the Online Dispute Resolution Mechanism.
It would also look at reducing timelines, introducing auto-routing of the complaint to concerned regulated entities, and auto-escalation of complaints in case of non-adherence to the prescribed timelines by the regulated entity.
Among others, Sebi, in a release after the board meeting, said it would also provide two levels of review. The first review would be by the designated body if the investor is dissatisfied with the resolution provided by the regulated entity concerned.
The second review would be done by Sebi if the investor is still dissatisfied after the first review.
Linking SCORES with Online Dispute Resoluti
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