Disclosure of investor complaints and arbitration details on Depository website
Summary
SEBI mandates Depositories to disclose investor complaints, arbitration details, and penal actions against Depository Participants on their websites. The circular specifies eight distinct report formats covering data from 2008-09 and 2009-10 regarding grievance redressal and legal proceedings. Implementation requires weekly or quarterly updates of these reports within one month of the circular's issuance. This section outlines reporting requirements for penal actions against Depository Participants and investor complaints against listed companies. It provides structured templates for tracking monetary penalties, arbitration awards, and complaint redressal statuses. Additionally, it categorizes specific types of service-related grievances and defines the status codes used to classify these complaints.
Text
Depositories shall henceforth disclose the details of complaints lodged by Beneficiary Owners (BO’s)/investors against Depository Participants (DPs) in their website. The aforesaid disclosure shall also include details pertaining to arbitration and penal action against the DPs.
Bring the provisions of this circular to the notice of the DPs, Companies and their Registrar & Transfer Agents (RTA’s) and also to disseminate the same on the website.
Arrange to disclose details as per the aforesaid reports in their website within a period of one month from the date of this circular on a continuous basis.
Arrange to update the aforesaid reports on a quarterly basis, except the reports 1A, which shall be updated on a weekly basis.
Make amendments to the relevant bye-laws, rules and regulations for the implementation of the aforesaid disclosures, if necessary.
Communicate to SEBI, the status of the implementation of the provisions of this circular in the Monthly Development Report.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 and Section 19 of the Depositories Act, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Report 3B: Penal Actions against Depository Participants (DPs) during 2009-10: Updated on mmm dd yyyy (to be updated every quarter) (in excel sheet)
Report 4A: Redressal of Complaints lodged by investors against Listed Companies during 2008 -09: Updated on mmm dd yyyy (to be updated every quarter) (In excel format)
Report 4B: Redressal of Complaints lodged by investors against Listed Companies during 2009 -10: Updated on mmm dd yyyy (to be updated every quarter) (In excel format)
*Non actionable means the complaint that are incomplete / outside the scope of Depository
(Arrange the companies in descending number of complaints filed against them during the period)
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Source: SecMarx — Disclosure of investor complaints and arbitration details on Depository website. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.