In its commitment to safeguarding investor interests, the Securities and Exchange Board of India (SEBI) has unveiled SCORES 2.0. This upgraded version aims to fortify the securities market’s complaint redressal system through enhanced efficiency and user-friendliness.
1. Enhanced Efficiency:
- SCORES 2.0 introduces auto-routing and auto-escalation features, streamlining the complaint resolution process.
- Designated Bodies monitor complaint redressal, ensuring adherence to reduced and uniform timelines.
2. User-Friendly Interface:
- The new SCORES system offers a more intuitive and accessible platform for investors to lodge complaints.
- Integration with the KYC Registration Agency database facilitates seamless registration.
3. Salient Features:
- Reduced and uniform timelines for complaint redressal, set at 21 calendar days.
- Auto-routing of complaints to concerned regulated entities eliminates delays.
- Two-level review process: Designated Body review followed by SEBI review for unresolved complaints.
- Auto-escalation of complaints for non-adherence to prescribed timelines.
- Integration with the KYC Registration Agency database for easy investor registration.
4. Transition to SCORES 2.0:
- Investors can only lodge complaints via the new SCORES URL from April 01, 2024.
- Existing complaints can be viewed on SCORES 2.0, while the old SCORES platform will no longer accept new complaints.
- A new app will replace the old one, enhancing accessibility and functionality.
Conclusion: SCORES 2.0 marks a significant advancement in SEBI’s efforts to protect investor interests and strengthen the securities market’s complaint redressal mechanism. With its array of features and user-friendly interface, SCORES 2.0 ensures timely resolution of complaints, instilling confidence and trust among investors. As SEBI continues to innovate and adapt to evolving market dynamics, SCORES 2.0 stands as a testament to its commitment to investor protection and market integrity.
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Securities and Exchange Board of India
PR No.06/2024
SCORES 2.0 New Technology to strengthen SEBI Complaint Redressal System for Investors
In its continuous pursuit of protection of interests of investors in the securities market, SEBI has launched the new version of the SEBI Complaint Redress System (SCORES 2.0) today. The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the ‘Designated Bodies and reduction of timelines. The new SCORES system has also been made more user friendly.
SCORES is an online system where investors in securities market can lodge their complaints through web URL and an App.
SEBI vide Circular with reference number SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 had appointed the Designated Bodies and defined the roles and responsibilities of the SEBI regulated entities and the Designated Bodies.
The website URL for SCORES 2.0 from April 01, 2024 is https://scores.sebi.gov.in The salient features of SCORES 2.0 are as follows:
i. Reduced and uniform timelines for redressal of investor complaints across the Securities Market i.e. 21 Calendar days from date of receipt of complaint.
ii. Introduction of auto-routing of complaints to the concerned regulated entity so as to eliminate time lapses, if any, in the flow of complaints.
iii. Monitoring of the timely redressal of the investors’ complaints by the ‘Designated Bodies’.
iv. Providing two levels of review: First review by the ‘Designated Body’ if the investor is dissatisfied with the resolution provided by the concerned regulated Second review by SEBI if the investor is still dissatisfied after the first review.
v. Introduction of auto-escalation of complaint to the next level in case of nonadherence to the prescribed timelines by the regulated entity or the Designated Body as the case may be.
vi. Integration with KYC Registration Agency database for easy registration of the investor on to SCORES.
Investors can lodge complaints only through new version of SCORES i.e. https://scores.sebi.gov.in from April 01, 2024. In the old SCORES i.e. https://scores.gov.in investors would not be able to lodge any new complaint. However, Investors can check the status of their complaints already lodged in old SCORES and pending in the old SCORES. Further, the disposed of complaints filed in the old SCORES can be viewed at SCORES 2.0
The old App has been discontinued and a new App in its place will be launched soon.
Mumbai
April 01, 2024
can I file a complaint for wrong application of taxes on maturity of ULIP under SCORES 2