The Securities and Exchange Board of India (SEBI) has upgraded its complaint redress system with the launch of SCORES 2.0. In a statement dated April 1, SEBI said that 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.”
SEBI’s SCORES system allows investors to lodge their complains online through web URL and an App.
SCORES Portal 2.0 URL/Login Link
The website URL for SCORES 2.0 from April 01, 2024 is https://scores.sebi.gov.in
Note: Investors can now lodge their complaints only through the new URL (mentioned above). Investors will not be able to lodge complaint through the old URL – https://scores.gov.in.
In case of complaints already lodged in the old SCORES portal, investors can check the status on the old URL. Disposed of complaints can be viewed on new SCORES.
“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,” SEBI said.
The regulator has also discontinued the old App for SCORES and it will launch a new app soon.
Also Read: SEBI’s Small and Medium REITs (SM REIT) rules: Key features, who will benefit?
Features of SCORES 2.0
According to SEBI’s statement, following are the salient features of SCORES 2.0:
1. The new system has a fixed and uniform timeline of 21 days from the date of receipt of complaint for redressal of investor complaints across the securities market.
2. Auto-routing of complaints to the concerned regulated entity so as to eliminate time lapses, if any, in the flow of complaints.
3. Monitoring of timely redressal of the investors’ complaints by the ‘Designated Bodies’.
4. Two levels of review: First review by the “Designated Body” if investor is dissatisfied by the resolution provided by a regulated entity. Second review by SEBI if the investor is still not satisfied with the first review.
5. Auto-escalation of complains to next level in case of non-adherence to prescribed timelines
6. Integration with KYC Registration Agency database for easy registration.
