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Sebi directs bourses to set up e-plaint management system


MUMBAI: Markets regulator Sebi on Monday requested all shares and commodities exchanges in addition to depositories to set up on-line criticism submitting and monitoring methods for traders inside six months. It additionally stated that after the onset of the Covid pandemic, the investor grievance redressal system was moved to the web mode. Given its advantages, exchanges and depositories ought to proceed to have a hybrid mode for such methods, Sebi stated.
Sebi already has such a system in place — Sebi Complaints Redress System (SCORES) —which is greater than a decade previous. The regulator requested bourses and depositories to comply with the identical mannequin. The new system is aimed toward expediting redressal or disposal of traders’ complaints as it might additionally obviate the necessity for bodily motion of complaints, it added. The system needs to be net enabled, present on-line entry around the clock and will have a provision to hyperlink Sebi’s SCORES course of.
Sebi additionally doubled the edge restrict for charges paid by traders preferring an arbitration continuing in case of a declare or a counterclaim of their dealings with a market middleman. If such claims are up to Rs 20 lakh, no charges could be paid. Earlier this restrict was Rs 10 lakh.

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