SEBI Extends due date for Implementation of provisions of SCORES

The Securities and Exchange Board of India (SEBI) has notified the Extension of the timeline for the implementation of provisions on Redressal of investor grievances through the SEBI Complaint Redressal (SCORES) Platform and linking it to the Online Dispute Resolution platform.

The provisions of the circular with ref. no. SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 related to workflow of processing of investor grievances by Entities and framework for monitoring and handling of investor complaints by the Designated Bodies were required to come into force with effect from December 04, 2023.

Further, the designated bodies referred to in Schedule II of circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 were required to apply for SCORES Authentication and/or for Application Programming Interface (API) integration with SCORES within such period so as to ensure that Designated Bodies can comply with provisions of the said circular by December 04, 2023 and onwards.

It has been decided to extend the effective date of implementation of above said provisions to April 01, 2024.

Accordingly, Circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023 shall rescind the Master Circular on the redressal of investor grievances through the SEBI Complaints Redress System (SCORES) platform SEBI/HO/OIAE/IGRD/P/CIR/2022/0150 dated November 07, 2022 on SCORES with effect from April 01, 2024.

The Entities however, shall continue to submit the Action Taken Report (“ATR”) on SCORES within 21 calendar days from the date of receipt of the complaint as directed in circular SEBI/HO/OIAE/IGRD/CIR/P/2023/156 dated September 20, 2023.

This Circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

For Official Circular Download PDF Given Below: