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SEBI Unveils SCORES 2.0: Enhancing Investor Complaint Redress System

The Securities and Exchange Board of India (SEBI) has launched SCORES 2.0, an upgraded version of its Complaint Redress System (SCORES), to strengthen mechanisms for addressing investor complaints. This enhanced system features automated routing, oversight by designated authorities, and streamlined processes.

Understanding SEBI SCORES: SEBI Complaint Redress System (SCORES) is an online platform launched in June 2011, allowing investors to lodge complaints in the securities market via web URL and an app.

Impact on Investors

  • Investors can now only lodge complaints through SCORES 2.0 as of April 1, 2024.
  • Existing complaints from the old SCORES can be viewed, but new complaints must be lodged through the updated system.
  • The old app has been discontinued, with a new one set to be launched soon.

Key Features of SCORES 2.0

  1. Auto-Routing and Auto-Escalation: Complaints are automatically directed to the concerned regulated entity, reducing time lapses. Non-adherence triggers auto-escalation to the next level.
  2. Uniform Timelines: A standard redressal timeline of 21 calendar days from complaint receipt is enforced across the securities market.
  3. Two-Level Review: Dissatisfied investors can seek a first review by the ‘Designated Body’ and a second review by SEBI.
  4. Integration with KYC Registration Agency: Seamless registration of investors onto SCORES via integration with KYC Registration Agency database.

Lodging Complaints Online

  1. Mandatory Registration: Investors must register on SCORES to lodge complaints.
  2. Registration Process: Click on “Register here” under “Investor Corner” on the SCORES portal homepage.
  3. Complaint Registration: Click on “Complaint Registration” under “Investor Corner” after logging in.
    • Provide complaint details, select complaint category, entity name, and nature of complaint.
    • Attach supporting documents if required.
  4. Confirmation: A system-generated unique registration number will be displayed upon successful submission.
    • An email acknowledging the complaint, along with the registration number, will be sent to the provided email address.

SCORES 2.0 represents a significant advancement in SEBI’s commitment to enhancing investor protection and streamlining complaint resolution in the securities market.

SEBI Unveils SCORES 2.0: Enhancing Investor Complaint Redress System_4.1