SEBI directs stock brokers to redress complaints within 15 days

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Mumbai, March 10 (IANS) Securities market regulator SEBI on Friday directed stock brokers and depository participants to redress investors’ complaints within 15 days of receiving them.

“With a view to make the complaint redressal mechanism through SCORES (SEBI Complaints Redress System) more efficient, all stock brokers and depository participants are directed to redress the complaint within a period of 15 days from the receipt of the complaint,” SEBI said in a circular issued on Friday.

“In case additional information is required from the complainant, the same shall be sought within 7 days from the receipt of the complaint. In such cases, the period of 15 days shall run from the receipt of additional information.”

According to the securities market regulator, it had commenced processing of complaints through SCORES since June 2011.

The online system — SCORES — facilitates investors to lodge complaint with SEBI.

–IANS

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