The Securities & Exchange Board of India (SEBI), in a press release dated April 1, 2024, announced the implementation of SEBI Complaint Redressal System (SCORES) 2.0. It seeks to utilize new technology to strengthen the existing grievance redressal mechanism in the securities markets. The new platform aims to streamline the redressal mechanism in a manner to bring uniformity in the timelines, make it user-friendly, and efficient.

Key takeaways from SCORES 2.0 includes:

● Reduced and uniform timelines for redressal of investor complaints across the Securities Market i.e. 21 Calendar days from date of receipt of complaint.
● Introduction of auto-routing of complaints to the concerned regulated entity to eliminate any time lapses in the flow of complaints.
● Monitoring of the timely redressal of the investors’ complaints by the ‘Designated Bodies’.
● 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.
● 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.
● Integration with KYC Registration Agency database for easy registration of the investor onto SCORES.

The website URL for SCORES 2.0 is http://www.scores.sebi.gov.in/.

To access the press release, click here.