Publishing investor charter and disclosure of investor complaints by Merchant Bankers on their websites for private placements of Municipal debt securities
Summary
SEBI mandates all registered Merchant Bankers to publish an Investor Charter and disclose investor complaint data on their websites for private placements of municipal debt securities. The Investor Charter outlines the vision, mission, services, timelines, rights, and guidelines for investors involved in these specific issuances. These requirements become effective from January 1, 2022, under powers conferred by the SEBI Act and relevant regulations. This section outlines the investor grievance redressal mechanism and timelines for private placements of municipal debt securities. It defines valid modes of complaint receipt, including physical letters, emails, and the SEBI SCORES platform. Additionally, it mandates the disclosure of specific complaint data trends by registered merchant bankers on their websites.
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All registered Merchant Bankers are hereby advised to disclose on their websites, the Investor Charter for private placements of municipal debt securities, as provided at Annexure – A to this circular
all the registered Merchant Bankers shall disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof... latest by 7th of succeeding month
The provisions of this circular shall come into effect from January 01, 2022
This circular is being issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, Regulation 30 of SEBI (Issue and Listing of municipal debt securities) Regulations, 2015
Investor Complaint Issuer (for email ID refer to Placement Memorandum) Scores (https:/scores.gov.in) Stock Exchanges (www.nseindia.com; www.bseindia.com ) Merchant Banker (for email ID refer to the Placement Documents) Registrar to Issue/Offer (Mainly for post issue/allotment related grievances) (refer Placement Document for email id)
Investor grievance received by the merchant banker T
Merchant banker to identify the concerned person (company/ intermediary) and it shall be endeavoured to forward the grievance to the said person on T day itself T+1
The company/ concerned intermediary to respond to the merchant banker with an acceptable reply X
Investor may escalate the pending grievance, if any, to a senior officer of the merchant banker of rank of Vice President or above T+21
Merchant banker, the company/ concerned intermediary/ies and the investor shall exchange between themselves additional information related to the grievance, wherever required Between T and X
Merchant Banker to respond to the investor with the reply Upto X+3
Best efforts will be undertaken by merchant banker to respond to the grievance within T+30
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Source: SecMarx — Publishing investor charter and disclosure of investor complaints by Merchant Bankers on their websites for private placements of Municipal debt securities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.