Sebi seeks to revamp investor grievance redressal process to strengthen it

Capital markets regulator Sebi on Friday came out with a proposal to strengthen the investor grievance handling process through the SCORES system and integrate the same with the online dispute resolution mechanism. In addition, the regulator is looking to review the qualified institutional buyer (QIB) status of alternative investment funds (AIFs), venture capital funds (VCFs) and foreign venture capital investors (FVCIs). The Securities and Exchange Board of India (Sebi) has sought comments from public on the proposals pertaining to QIB status by June 1 and investor grievance mechanism by June 3, according to two separate consultation papers. Under the proposal, the regulator has suggested to revamp the investor grievance handling mechanism through SEBI Complaint Redressal System (SCORES) and integrate the same with the online dispute resolution (ODR) mechanism which was recently approved by Sebi. SCORES was launched in June 2011 to enable investors to lodge and follow up their .

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