SEBI introduces SCORES 2.0, an upgraded version of the complaint redressal system

On April 1, the Securities and Exchange Board of India (SEBI), the market regulator, launched the SEBI Complaint Redress System (SCORES 2.0), an improved version of its complaint redressal system.

SEBI announced improvements to make the new SCORES system easier to use. A number of features are included in SCORES 2.0 with the goal of expediting the settlement of investor complaints in the securities market.

“The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the ‘Designated Bodies and reduction of timelines,” SEBI said in a release.

These consist of automatic complaint routing to appropriate authorities, monitoring of prompt resolution by designated bodies, and standard complaint resolution timelines, which are established at 21 calendar days from the date of complaint receipt.

Furthermore, SCORES now provides a two-tier review process: in the event that the investor is still not satisfied, SEBI will evaluate the first level, which is conducted by the designated body.

The former SCORES portal will no longer be available for investors to use in order to submit fresh concerns. They can still, however, keep an eye on the progress of any complaints that were previously filed using the outdated SCORES.

The revised version of SCORES is available at https://scores.sebi.gov.in as of April 1. Furthermore, SEBI has said that the existing software will no longer be available, and that a new app will be released soon.