Posts Tagged ‘SEBI Complaints Redress System (SCORES)’


Processing of Investor complaints against KRA {KYC (Know Your Client) Registration Agency} in SCORES

CIRCULAR, CIR/MIRSD/12/2012, September 21, 2012

To

All KYC Registration Agency (KRAs)

1. SEBI has commenced processing of investor complaints in a centralized web based complaints redress system, “SCORES”. The salient features of this system are:

  • Centralised database of all complaints,
  • Online movement of complaints to the concerned KRA,
  • Online upload of Action Taker Report (ATRs) by the concerned KRA, and
  • Online viewing by investors of actions taken on the complaint and its current status.

2. Accordingly, all complaints pertaining to KRAs will be electronically sent through SCORES at http://scores.gov.in/Admin. You are hereby directed to view the pending complaints and submit the ATR along with supporting documents electronically in SCORES. Please note that updation of action taken would not be possible with physical ATRs. Hence, submission of physical ATR will not be accepted for complaints lodged in SCORES.

3. The user id and password for logging into SCORES at http://scores.gov.in/Admin are being communicated separately to KRAs.

4. KRAs shall take adequate steps for redressal of grievances within one month from the date of receipt of the complaint and keep the investor and SEBI duly informed on the action taken thereon. Failure to comply with the said requirement will render the KRA liable for penal action.

5. KRAs are advised to:

a. develop the monitoring mechanism through internal audit and inspections.

b. encourage investor to use SCORES for lodging their grievances.

6. 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.

7. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Circulars”.

Click here to download the complete text of the above Circular in PDF Format- CIRCULAR, CIR/MIRSD/12/2012, September 21, 2012.

Source: Securities and Exchange Board of India.

 

 

 


Redressal of Investor Grievances against Listed Companies in SEBI Complaints Redress System (SCORES).

CIRCULAR, CIR/OIAE/1/2012, dated August 13, 2012

All Companies whose securities are listed on Stock Exchanges

(through Stock Exchanges)

All recognized Stock Exchanges

SEBI had issued Circular No.CIR/OIAE/2/2011 dated June 3, 2011 regarding commencement of SEBI Complaints Redress System (SCORES) and advising all companies whose securities are listed on various stock exchanges to comply with the provisions of the said circular.

1. In this regard, all companies whose securities are listed on stock exchanges, are hereby advised to obtain SCORES authentication by September 14, 2012 in terms of the aforesaid circular.

2. All companies against whom complaints are pending on SCORES, shall take appropriate necessary steps within 7 days of receipt of complaint by the concerned company through SCORES, so as to resolve the complaint within 30 days of receipt of complaint and also keep the complainant duly informed of the action taken thereon.

3. In case of failure to comply with the above, SEBI would be constrained to initiate enforcement actions as per the law as may be deemed appropriate.

4. The Stock Exchanges are accordingly advised to bring the provisions of this Circular to the notice of all the companies whose securities are listed in the exchange and also to disseminate the same on the website.

5. 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.

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

Click here to download the complete text of the above Circular in PDF Format- CIRCULAR, CIR/OIAE/1/2012, dated August 13, 2012.

Source: Securities and Exchange Board of India.