SEBI Asks Exchanges To Set Up Online Complaint Redressal System

SEBI has implemented an online platform, SEBI Complaints Redressal System (SCORES), designed to help investors to lodge their complaints, pertaining to securities market, against listed companies and SEBI registered intermediaries. The system is intended to expedite redressal/disposal of investors' complaints as it would also obviate the need for physical movement of complaints. SEBI has also asked all recognized stock exchanges including Commodity Derivative Exchanges/Depositories to widely publicize its online web based complaints redressal system. SEBI has also doubled the threshold limit for fees paid by investors who prefer an arbitration proceeding in case of a claim or a counterclaim in their dealings with a market intermediary. If such claims are up to Rs. 20 lakh, no fees would be paid. Earlier this limit was Rs. 10 lakh.

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