On March 05, 2020, Securities and Exchange Board of India (SEBI), the regulator for the securities market in India, has introduced a mobile app called ‘Sebi SCORES’ [Sebi Complaints Redress System (SCORES)], through which, investors can register their grievances.Key Points:
i.On the SCORES platform, investors can complain online with SEBI against listed companies, registered intermediaries and market infrastructure institutions.
ii.As per Sebi guideline, within 30 days of receipt of complaint, companies against whom complaints are lodged should file an action taken report with the regulator.
iii.‘Sebi Scores’ app will be available on both iOS and Android platforms. With the app on mobile, it will be very easy for investors to register their complaints, while the process can also be expedited.
iv.All the features of SCORES will be available on this app, which are currently available in electronic form. After compulsory registration of the application, investors will get information about their complaint through SMS and email.
v.Investors will also be able to track the status of their complaint.In addition, Connectivity will also be available for Sebi’s toll-free helpline number on the app.
vi.Every year Sebi has received about 40,000 complaints on an average. A total of 3,57,000 complaints has been resolved using SCORES platform till now.
About Securities and Exchange Board of India (SEBI):
Headquarters– Mumbai, Maharashtra
Chairman– Ajay Tyagi