OTHER GROUP COMPANIES
market

SEBI: Complaints to be sent electronically through SCORES

Submission of physical ATR shall not be accepted for complaints lodged in SCORES

June 21, 2012 2:41 IST | India Infoline News Service
The SEBI (Securities and Exchange Board of India) said that complaints received by SEBI against stock exchanges and depositories should be sent electronically through SCORES (SEBI Complaints Redress System).
 
“The complaints received by SEBI against SEs and Depositories shall be electronically sent through SCORES... and submit the Action Taken Report (ATR) along with supporting documents electronically in SCORES. Hence, submission of physical ATR shall not be accepted for complaints lodged in SCORES,” the market regulator said in a circular on 15th June.
 
SEBI addresses the complaints against the exchanges and depositories through SCORES. According to SEBI, it will not be possible to take the updated information about the actions taken by them physically. The regulator has asked the exchanges and depositories to address the complaints within 15 days upon receipt of complaint on SCORES. In case additional information is required from the complainant, it should be sought within seven days of receipt on SCORES, the circular added.

The circular also mentions to indicate contact details (phone number, email ID and postal address) of the person heading the complaint services division, besides maintenance of monthly record of complaints which are not addressed within 15 days along with the reason of delay.

SEBI said the ATR should be updated on SCORES and failure to do so shall be considered as non-redressal of the complaint and the complaint will be shown as pending.
 

Invest wise with Expert advice

FEATURED ARTICLE

BLOGS

Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp