SEBI starts web-based complaint system

Mumbai: In a bid to better streamline the database, market regulator SEBI has operationalised a centralised web based complaints redress system where all investor complaints would be processed.

"SEBI has commenced processing of investor complaints in a centralised web based complaints redress system 'SCORES'," it said in a circular.

The SEBI Complaints Redress System (SCORES), as the new system is called, would act as centralised database of all complaints and facilitate online movement of complaints to the concerned intermediaries.

Besides, online upload of Action Taken Reports (ATRs) by the concerned entities, investors can also find out about the status of pending complaints made by them.

"Accordingly, henceforth all complaints shall be forwarded electronically through SCORES only," it said, adding that from now onwards submission of physical ATRs will not be accepted for complaints lodged in SCORES.

The market regulator would also send a daily alert on pending complaints to concerned compliance officers.

Source: Financial Express