SEBI Launches SCORES 2.0: Enhancing Investor Complaint Redress Mechanism

In a bid to bolster investor confidence and streamline grievance resolution processes, the Securities and Exchange Board of India (SEBI) unveiled the latest iteration of its Complaint Redress System, dubbed SCORES 2.0. This revamped platform aims to fortify the mechanism for addressing complaints within the securities market, introducing several enhancements to expedite the resolution process.

Strengthening Investor Protection with SCORES 2.0

SCORES, an online platform, serves as the conduit through which investors in the securities market can register their complaints, fostering transparency and accountability. With the launch of SCORES 2.0, SEBI introduces a host of new features designed to empower investors and ensure their grievances are promptly addressed.

Key Features of SCORES 2.0

Reduced and Uniform Timelines: Complaint redressal timelines have been standardized to 21 calendar days from the date of complaint receipt, ensuring swift resolution across the securities market.   

1. Auto-Routing of Complaints: Complaints are automatically routed to the relevant regulated entity, minimizing delays in processing.
2. Monitoring by Designated Bodies: Designated bodies oversee the timely resolution of investor complaints, enhancing oversight and accountability.   
3. Two Levels of Review: If dissatisfied with the resolution provided by the regulated entity, investors have the option for a secondary review by SEBI.
4. Auto-Escalation of Complaints: In cases of non-adherence to prescribed timelines, complaints are escalated to the next level to ensure timely resolution.
5. Integration with KYC Registration Agency: Seamless integration with KYC Registration Agency database simplifies investor registration on SCORES.

Transition to SCORES 2.0

Effective April 1, 2024, investors are required to utilize the new version of SCORES, accessible at https://scores.sebi.gov.in, for lodging complaints. The previous iteration, available at https://scores.gov.in, will no longer accept new complaints. However, investors can still monitor the status of complaints lodged in the old system and view pending and disposed of complaints in SCORES 2.0. Additionally, the old app has been discontinued, with a new app set to be launched soon to facilitate seamless access to SCORES 2.0.

By ushering in these advancements, SEBI reaffirms its commitment to safeguarding investor interests and fostering a fair and transparent securities market landscape. SCORES 2.0 stands as a testament to SEBI’s ongoing efforts to bolster investor protection and uphold market integrity.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.