SEBI has proposed to enhance investors’ grievance handling mechanism through the SEBI Complaints Redressal System (SCORES) by combining it with the recently approved Online Dispute Resolution (ODR) mechanism from SEBI. The ODR platform is a way for investors to access the three-step Market Infrastructure Institution (MII) mediated dispute resolution mechanism. Investors opt for this mechanism when they are not satisfied with the solution found through SCORES. As per SEBI, the connection of the two platforms "aims to make the entire grievance redress process in the securities market more comprehensive by providing an end-to-end solution that makes the entire process more efficient and faster by reducing timelines and introducing auto-routing and auto-escalation.
It also propose that Complaints pertaining to Market Price Manipulation, Price/ Volume Manipulation in Equity, Derivatives Commodity Derivatives, Insider Trading, Accounting Manipulation by Listed Companies that are currently being auto-closed with the observations above will be excluded from SCORES platform as these cannot be treated as complaints and a separate portal for Market Intelligence will be created for this purpose. In case, the investors lodges complaints in nature of market intelligence on SCORES, such type of complaints would be closed and routed to Market Intelligence portal.
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