SEBI Unveils Complaint Redressal System Scores 2.0: Improved Features and Enhanced User Experience

Sebi Unveils Complaint Redressal System Scores 2.0

Sebi Unveils Complaint Redressal System Scores 2.0: Improved Features and Enhanced User Experience


Key Takeaways

  • SEBI launches upgraded version of complaint redressal system, SCORES 2.0, aiming to bolster investor protection in securities market.
  • New features include standardized timelines for complaint resolution, auto-routing, and auto-escalation to designated bodies.
  • SCORES 2.0 integrates seamlessly with KYC Registration Agency database, offering user-friendly experience and faster complaint resolution, accessible at https://scores.sebi.gov.in.

 

On April 1, the Securities and Exchange Board of India (SEBI) launched an upgraded version of its complaint redressal system, SEBI Complaint Redress System (SCORES 2.0). This new version aims to strengthen the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by designated bodies, and reduction of timelines.

The new SCORES 2.0 system introduces several features to streamline investor complaint resolution. One of the most significant enhancements is the introduction of standardized timelines for complaint resolution, set at 21 calendar days from the complaint’s receipt date. Additionally, the system offers automatic routing of complaints to relevant authorities and monitoring of timely resolution by designated bodies.

To ensure adherence to timelines, investors have the option to auto-escalate complaints if designated bodies fail to respond promptly. Moreover, SCORES now offers a two-tier review process, with the first level involving review by the designated body and SEBI stepping in for the second level if the investor remains dissatisfied.

The new SCORES 2.0 system is more user-friendly and integrates seamlessly with the KYC Registration Agency database, simplifying investor registration processes within the platform. Investors will no longer have the option to file new complaints using the old SCORES platform. However, they can still monitor the status of any complaints previously submitted through the old SCORES.

Starting April 1st, the updated version of SCORES can be accessed at https://scores.sebi.gov.in. Furthermore, SEBI has announced the discontinuation of the old app, with plans to introduce a new app in the near future.

The new SCORES 2.0 system is a significant step towards strengthening investor protection and improving the overall efficiency of the securities market. With the introduction of standardized timelines and automatic routing of complaints, investors can expect faster resolution of their complaints.

In conclusion, the new SCORES 2.0 system is a positive development for investors in the securities market. It offers a more streamlined and efficient complaint resolution process, which will help to improve investor confidence and protect their interests.

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