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SEBI has launched a new online system for processing investor complaints named SCORES – SEBI Complaints Redress System. In a circular on Thursday, SEBI said that complaints should henceforth be forwarded electronically through SCORES only.
SEBI directed all merchant bankers, registrar and transfer agents and underwriters to an issue to view pending complaints and post their action taken reports (ATR) only through SCORES.
SEBI said that physical ATRs were being discontinued as updation of actions taken would not be possible using physical ATRs.
Intermediaries can view complaints in the SCORES system with their user id and password and also get daily alerts on pending complaints.
SEBI said that failure to update ATR would be considered as non-redressal of complaint and will be shown as pending against the entity.
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