Redressal of complaints against Stock Brokers and Depository Participants through SEBI Complaints Redress System SCORES
Summary
SEBI directs stock brokers and depository participants to redress complaints through the SCORES system within 15 days of receipt. If additional information is required from the complainant, it must be sought within 7 days, extending the resolution period by 5 days from that receipt. Stock Exchanges and Depositories are advised to develop systems to execute these requirements.
Text
all stock brokers and depository participants are directed to address/redress the complaint within a period of 15 days from the receipt of the complaint.
In case additional information is required from the complainant, the same shall be sought within 7 days from the receipt of the complaint.
In such cases, the period of 15 days shall run from the receipt of additional information.
Stock Exchanges and Depositories are advised to develop a system for execution of the above.
Source: SecMarx — Redressal of complaints against Stock Brokers and Depository Participants through SEBI Complaints Redress System SCORES. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.