New Technology to strengthen SEBI Complaint Redressal System
SCORES 2.0 New Technology to strengthen SEBI Complaint Redressal System for Investors
In its continuous pursuit of protection of interests of investors in the securities market, SEBI has launched the new version of the SEBI Complaint Redress System (SCORES 2.0) today. The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the ‘Designated Bodies and reduction of timelines. The new SCORES system has also been made more user friendly.
SCORES is an online system where investors in securities market can lodge their complaints through web URLand an App.
SEBI vide Circular with reference number SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 had appointed the Designated Bodies and defined the roles and responsibilities of the SEBI regulated entities and the Designated Bodies.
The website URL for SCORES 2.0 from April 01, 2024 is https://scores.sebi.gov.in
The salient features of SCORES 2.0 are as follows:
i.Reduced and uniform timelines for redressal of investor complaints across the Securities Market i.e. 21 Calendar days from date of receipt of complaint.
ii.Introduction of auto-routing of complaints to the concerned regulated entity so as to eliminate time lapses, if any, in the flow of complaints.
iii.Monitoring of the timely redressal of the investors’ complaints by the ‘Designated Bodies’.
iv.Providing two levels of review: First review by the ‘Designated Body’ if the investor is dissatisfied with the resolution provided by the concerned regulated entity. Second review by SEBI if the investor is still dissatisfied after the first review.
v.Introduction of auto-escalation of complaint to the next level in case of non-adherence to the prescribed timelines by the regulated entity or the Designated Body as the case may be.
vi.Integration with KYC Registration Agency database for easy registration of the investor on to SCORES.
Investors can lodge complaints only through new version of SCORES i.e. https://scores.sebi.gov.infrom April 01, 2024.In the old SCORES i.e. https://scores.gov.ininvestors would not be able to lodge any new complaint. However, Investors can check the status of their complaints already lodged in old SCORES and pending in the old SCORES. Further, the disposed of complaints filed in the old SCORES can be viewed at SCORES 2.0
The old App has been discontinued and a new App in its place will be launched soon.
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