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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

SEBI Circular: Investor Grievance Redressal and Online Dispute Resolution Integration

20-Sep-2023 | SEBI/HO/OIAE/IGRD/CIR/P/2023/156 Circular Ref. No: NSE/CML/2023/66

Securities and Exchange Board of India (SEBI) has issued a Circular outlining the redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform, coupled with its integration into the Online Dispute Resolution platform. These measures will be effective from December 4, 2023.

Key Points of the Circular:

The circular provides a revised framework for handling complaints received through the SCORES platform for Entities and for monitoring these complaints by designated bodies (Annexure I).

It includes general provisions applicable to all Entities regarding the SCORES portal (Annexure II).

Irrespective of any other circular, Entities are required to submit the Action Taken Report (ATR) to SEBI within 21 calendar days from the date of receiving the complaint.

The provisions related to the workflow of processing investor grievances and the framework for monitoring and handling complaints by Designated Bodies will be in effect from December 4, 2023.

Designated Bodies mentioned in Schedule II must apply for SCORES Authentication and/or Application Programming Interface (API) integration (as per Annexure I) to ensure compliance with the circular by December 4, 2023, and beyond.

This circular supersedes the Master Circular SEBI/HO/OIAE/IGRD/P/CIR/2022/0150 dated November 07, 2022, effective from December 04, 2023.

All Entities and Designated Bodies are mandated to adhere to the directives of this Circular. Market Infrastructure Institutions and Designated Bodies must notify all listed companies and registered intermediaries and disseminate the information on their respective websites.

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