SEBI Streamlines Its Redressal System For Intermediaries

The market watchdog Securities and Exchange Board of India (Sebi) recently decided to automate the generation of SCORES user id and password for all listed companies as well as for the registered intermediaries. This is done with the view to streamline its all the process of providing SCORES credentials in the interest of the investors. “SCORES user id and password details shall be sent to all new Sebi registered intermediaries, through an auto-generated e-mail, upon completion of process of online grant of registration by Sebi,” noted Sebi in its circular. 

Further, an existing as well as new listed company or registered intermediary, not having SCORES user id and password is asked to obtain the same from Sebi. Post registration the SCORES user id and password details would be sent to the e-mail id of the contact person as provided in the online registration form. Sebi has web-based portal called ‘Sebi Complaints Redressal System’ (SCORES). This portal facilitates investors for lodging complaints pertaining to any of the regional Sebi offices from anywhere across the country.  

SCORES includes centralised grievances tracking system for the market regulator. Through the portal, current status of the grievance can be accessed online by the investors. SCORES is used for shares and mutual fund. 

Needless to say, that over time due to the proliferation of the digital space, complaint systems has become quite effective.