SEBI Extends Timeline for Linking SCORES with Online Dispute Resolution Platform to April 1, 2024

Key Takeaways:

1. SEBI has extended the deadline for linking the SEBI Complaint Redressal System (SCORES) with the online dispute resolution platform to April 1, 2024.

2. Initially, the deadline for linking both platforms was December 4, but SEBI has postponed it to provide market entities with more time to comply with the requirements.

3. In September, SEBI had mandated market entities to apply for SCORES authentication and Application Programming Interface (API) integration.

4. The SCORES platform, established in 2011, serves as a facilitative platform for investors to file grievances against listed companies or registered intermediaries.

5. SEBI has proposed measures to enhance the investor grievance handling mechanism through SCORES, including reducing timelines and introducing automatic routing and escalation of complaints.

6. In September, SEBI reported that it had disposed of 3,705 complaints through the SCORES platform, with only 17 complaints pending for three months. The average resolution time for complaints was approximately 40 days.

That the Securities and Exchange Board of India (SEBI) has extended the deadline for linking the SEBI Complaint Redressal System (SCORES) with the online dispute resolution platform to April 1, 2024. Initially, the deadline for linking both platforms was December 4, but SEBI has postponed it to provide market entities with more time to comply with the requirements.

In September, SEBI had issued a circular mandating market entities to apply for SCORES authentication and Application Programming Interface (API) integration. The extension of the deadline for applying for SCORES authentication to April 1, 2024, was also mentioned in the circular issued on Friday.

The SCORES platform, which was launched in 2011, serves as a facilitative platform for investors to file grievances against listed companies or registered intermediaries. To enhance the investor grievance handling mechanism through SCORES, SEBI has proposed reducing timelines and introducing automatic routing as well as automatic escalation of complaints.

In September, SEBI reported that it had disposed of 3,705 complaints through the SCORES platform, with only 17 complaints pending for three months. The average resolution time for complaints was approximately 40 days.

FAQ:

Q1: What is the purpose of the SCORES platform launched by SEBI?

A1: The SCORES platform, initiated by SEBI in 2011, provides a facilitative platform for investors to file grievances against listed companies or registered intermediaries.

Q2: What measures has SEBI proposed to enhance the investor grievance handling mechanism through SCORES?

A2: SEBI has proposed reducing timelines and introducing automatic routing as well as automatic escalation of complaints to strengthen the investor grievance handling mechanism through the SCORES platform.

Q3: How many complaints did SEBI dispose of through the SCORES platform in September?

A3: In September, SEBI reported that it had disposed of 3,705 complaints through the SCORES platform, with only 17 complaints pending for three months. The average resolution time for complaints was approximately 40 days.