SEBI  mandates Disclosure of Complaints against the Stock Exchanges (excluding Commodity Derivatives Exchanges)/Depositories/Clearing Corporations vide Circular No. SEBI/HO/MRD1/MRD1_ICC1/P/CIR/2021/664 Dated: November 23, 2021.

Securities and Exchange Board of India

CIRCULAR

SEBI/HO/MRD1/MRD1_ICC1/P/CIR/2021/664

November 23, 2021

To,

The Managing Directors / Chief Executive Officers
All Recognized Stock Exchanges (excluding Commodity Derivatives
Exchanges)/Depositories/Clearing Corporations

Dear Sir / Madam,

Sub: Disclosure of Complaints against the Stock Exchanges (excluding Commodity Derivatives Exchanges)/Depositories/Clearing Corporations

1. In order to bring about transparency in the Investor Grievance Redressal Mechanism, it has been decided that all the Stock Exchanges (excluding Commodity Derivatives Exchanges)/Depositories/Clearing Corporations shall disclose on their websites, the data on complaints received against them and redressal thereof, latest by 7th of succeeding month, as per the format enclosed at Annexure – A’ to this circular.

2. These disclosure requirements are in addition to those already mandated by SEBI.

3. The provisions of this circular shall come into effect from January 01, 2022.

4. The Stock Exchanges (excluding Commodity Derivatives Exchanges)/Depositories/Clearing Corporations are advised to:

4.1. Make necessary amendments to the relevant bye-laws, rules and regulations.

4.2. Communicate to SEBI, the status of the implementation of the provisions of this circular through the Monthly Development Report (MDR).

5. This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992 read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

6. This circular is available on SEBI website at sebi.gov.in.

Yours faithfully,

Nirdosh Rajan Minz
Deputy General Manager
Market Regulation Department
Email: [email protected]

Annexure – A

Data of complaints against the Stock Exchanges (excluding Commodity Derivatives Exchanges)/Depositories/Clearing Corporations to be displayed on their websites-

Format for disclosing data of complaints on their website:

Data for the month ending

Sr. No. Received from Carried forward from previous month Rece-ived during the
month
Total Comp-laints Reso-lved during the month* Pending at the  end of the month** Aver-age Reso-lution time^
Pending    for less than 3 months Pending for    more than        3 months
1 2 3 4 5 6 7 8
1 Directly from Investors
2 SEBI (SCORES)
3 Members
4 Other

Sources   (if
any)

Grand Total

*Should include complaints of previous months resolved in the current month, if any.

**Should include total complaints pending as on the last day of the month, if any.

^ Average resolution time is the sum total of time taken to resolve each complaint in the current month divided by total number of complaints resolved in the current month.

Month-wise data for the current financial year

Sr. No. Month Carried forward from previous month Received Resolved Pending
1 2 3 4 5 6
1 April
2 May
3 June
4 July
Grand Total

Year-wise data (for 5 years on rolling basis)

Sr. No. Year Carried forward from previous year Received Resolved Pending
1 2 3 4 5 6
1 2020-21
2 2021-22
3 2022-23
4 2023-24
5 2024-25
Grand Total

 

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