Sebi directs bourses to set up e-plaint management system – Times of India

Sebi directs bourses to set up e-plaint management system – Times of India

MUMBAI: Markets regulator Sebi on Monday asked all stocks and commodities exchanges as well as depositories to set up online complaint filing and tracking systems for investors within six months. It also said that after the onset of the Covid pandemic, the investor grievance redressal system was moved to the online mode. Given its benefits, exchanges and depositories should continue to have a hybrid mode for such systems, Sebi said.
Sebi already has such a system in place — Sebi Complaints Redress System (SCORES) —which is more than a decade old. The regulator asked bourses and depositories to follow the same model. The new system is aimed at expediting redressal or disposal of investors’ complaints as it would also obviate the need for physical movement of complaints, it added. The system should be web enabled, provide online access round the clock and should have a provision to link Sebi’s SCORES process.
Sebi also doubled the threshold limit for fees paid by investors who prefer an arbitration proceeding in case of a claim or a counterclaim in their dealings with a market intermediary. If such claims are up to Rs 20 lakh, no fees would be paid. Earlier this limit was Rs 10 lakh.

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