Sebi asks exchanges, depositories, clearing corps to disclose complaint data on websites

To bring transparency in the investor grievance redressal mechanism, Sebi has directed stock exchanges, depositories, and clearing corporations to disclose on their websites the data on complaints received against them and redressal thereof.

They will have to make the disclosure latest by the 7th of the succeeding month, Sebi said in a circular.

In addition, the regulator has also prescribed a format for disclosing data of complaints on their websites.

Under the disclosure, these entities will have to disclose complaints received during the month, those carried forward from the previous month, complaints pending for more than three months, and the average time is taken in the resolution of a complaint, among others.

The provision of the circular will come into effect from January 1, 2022.

On Tuesday, Sebi asked merchant bankers to disclose investor charter and data about the complaints they receive on their websites.

This came after the Securities and Exchange Board of India (Sebi) came out with an investor charter last week.

This charter includes the rights and responsibilities of investors and dos and don'ts of investing in the securities market.

The charter is aimed at protecting the ''interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner''.

The rights include getting fair and equitable treatment, expecting redressal of investor grievances filed in SCORES in a time-bound manner.

The market regulator has created a separate investor charter for market infrastructure institutions-- stock exchanges, clearing corporations, and depositories. 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)