SEBI seeks public comments on improving Investor Grievance Redressal Mechanism
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- Last Updated on 23 December, 2022
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Press Release No. 39/2022, dated 21.12.2022
Presently, in case an investor has a grievance, she may lodge a complaint with the concerned intermediary, Market Infrastructure Institution (MII) or SCORES, for resolution. Now, SEBI has released a consultation paper on strengthening the Investors’ Grievance Redressal Mechanisms by harnessing Online Dispute Resolution Mechanisms.
The SEBI proposes strengthening the existing Market Infrastructure Institutions (MIIs) administered mediation and arbitration mechanism by the following –
(a) By suggesting that these processes are conducted online on an end-to-end basis using the capacity, technology, and other assistance of online dispute resolution institutions;
(b) By modifying these processes for the benefit of the investor.
SEBI further proposes to make the grievance redressal process more simplified, streamlined and efficient for investors. Also, extending the MIIs administered mediation and arbitration mechanism for resolution of investor/client grievances in respect of all specified securities market intermediaries. The last date for submission of public comments is 09-01-2023.
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