1 min read.Updated: 24 Nov 2021, 06:10 PM IST Edited By Vivek Punj
They will have to disclose complaints received during the month, those carried forward from previous month, complaints pending for more than three months and average time taken in resolution of a complaint
Listen to this article
Market regulator Securities and Exchange Board of India (Sebi) has directed stock exchanges, depositories and clearing corporations to disclose data about complaints they have received against them and resolution thereof on a monthly basis. The move is meant to bring transparency in the investor grievance redressal system.
These entities will have to disclose complaint data for every month by 7th of the succeeding month, Sebi said in a circular. Sebi has also prescribed a format they will have to adhere to for disclosing data of complaints on their websites. The circular will come into effect from January 1, 2022.
As per Sebi's directions, these entities will have to disclose the number of complaints received during the month, those carried forward from previous month, complaints pending for more than three months and average time taken in resolution of a complaint, among other details.
On Tuesday, Sebi asked merchant bankers to disclose investor charter and data pertaining to the complaints they receive on their websites. This came after the Securities and Exchange Board of India (Sebi) came out with investor charter last week.
This charter includes the rights and responsibilities of investors, and dos and don'ts of investing in the securities market.
The charter is aimed at protecting the "interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner".
The rights include getting fair and equitable treatment, expecting redressal of investor grievances filed in SCORES in a time- bound manner.
The market regulator has created a separate investor charter for market infrastructure institutions-- stock exchanges, clearing corporations and depositories.