Sebi launches SCORES 2.0 complaint redressal system

Sebi SCORES 2.0 version launch news:  Capital market regulator Sebi on Monday launched a new version of its complaint redress system, SCORES, with a view to protecting the interests of investors on Dalal Street. The new version, called SCORES 2.0, strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the ‘designated bodies, and reduction of timelines, the regulator said in a statement.

Sebi said the new system, SCORES 2.0, is more user-friendly than its predecessor. 

While stating that the old app had been discontinued, Sebi said that a new app would be launched soon.

With effect from April 1, investors will only be able to file complaints using the new version (scores.sebi.gov.in) while the old version (scores.gov.in) will be unavailable, according to Sebi. 

Here are some of the key things to know about Sebi's SCORES 2.0 complaint redressal system: 

What is SCORES?

It is an online system where securities market participants can lodge their complaints through a website (scores.sebi.gov.in) or mobile app. The regulator had earlier appointed and defined the roles and responsibilities of certain designated bodies under its purview. 

Here are six main salient features of SCORES 2.0:

• Reduced and uniform timelines for complaint redressal: Currently, the system enforces a deadline of 21 days from the date of receipt for the concerned entities to address investor complaints  
• Auto-routing of complaints to the concerned regulated entity: This facility has been introduced to eliminate any time lapses in the flow of complaints
• Monitoring of the timely redressal of the investors’ complaints by designated bodies
• Two levels of review: While a first review is provided by the designated body’ if the investor is dissatisfied with the resolution provided, a second review is provided by Sebi if the investor remains dissatisfied after the first review 
• Auto-escalation of complaint to the next level in case of non-adherence
• Integration with the KYC registration agency database for easy registration of investors 

From April 1, investors having already filed a complaint in the old version of SCORES will be able to check the status of their complaints in the same version. 

However, any disposed complaints filed in the old version will be visible in SCORES 2.0.