Sebi postpones linking of SCORES with online dispute resolution platform to April

MUMBAI – The Securities and Exchange Board of India (Sebi) has extended the timeline for implementation of linking SEBI Complaint Redressal (SCORES) with the online dispute resolution platform to April 1, 2024.

Earlier, the deadline for linking both the platforms was December 4.

In September, the capital market regulator had issued a circular saying that market entities will need to apply for SCORES authentication and for Application Programming Interface (API) integration. SEBI has also pushed the deadline for applying for SCORES authentication to April 1, 2024, according to a circular issued on Friday.

The SCORES platform, launched in 2011, was an initiative by SEBI to provide a facilitative platform for investors to file their grievances against listed companies or registered intermediaries which are unresolved.

In order to further strengthen the investor grievance handling mechanism through SCORES platform, the regulator has in September proposed to reduce the timelines and introduce automatic routing as well as automatic escalation of complaints.

In September, the regulator had disposed of 3,705 complaints against companies and market intermediaries through the SCORES platform, according to the data released by SEBI in October.

The data showed that only 17 complaints were pending with it for three months. The average resolution time was about 40 days, the regulator had said.

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