SEBI launches SCORES 2.0 to improvise investor-compliant redressal

SEBI launches SCORES 2.0: The Securities and Exchange Board of India (SEBI) has launched SCORES 2.0, which aims to boost the efficiency of the investor complaint redressal system by implementing features such as automated complaint routing and oversight by designated entities.

SCORES, the SEBI Complaint Redress System, is an online platform enabling investors to lodge complaints related to the securities market via both a web URL and a dedicated app. Originally launched in June 2011, SCORES has now been upgraded to improve the resolution process for investor grievances, streamlining procedures through automated routing, escalation, and monitoring by designated authorities, thus reducing response times.

Effective from April 1, 2024, investors will exclusively use SCORES 2.0 for lodging complaints, while retaining the ability to monitor the status of previously lodged grievances. 

Additionally, SCORES 2.0 incorporates a standardised timeline of 21 calendar days for resolving investor complaints across the securities market, along with provisions for two-tier review processes. Dissatisfied investors may seek a secondary review from Sebi following an initial review by the designated body.

Moreover, SCORES 2.0 introduces automated escalation of complaints in cases of non-compliance with prescribed timelines by regulated entities or designated bodies. It also integrates with the KYC Registration Agency database to facilitate investor registration onto the platform. The older version of SCORES and its associated app has been discontinued, with a new app set to be launched in the near future.

(With PTI inputs)