SEBI has notified SEBI (Facilitation of Grievance Redressal Mechanism) (Amendment) Regulations, 2023 on August 16, 2023 to amend regulations in relation to 19 SEBI regulated intermediaries inter alia Merchant Bankers, Mutual Funds, Alternative Investment Funds (AIFs), Investment Advisers, etc. and the SEBI Listing Obligations and Disclosure Requirements Regulations in relation to listed companies to strengthen investor grievance redressal mechanism.
As per these Regulations, complaints will now have to be addressed by the concerned intermediaries within 21 days. The enactment of these regulations indicates SEBI’s intention to give the investors center stage and create a more welcoming environment for investors in the securities markets.
The SEBI Board had previously approved the proposal to boost the investor grievance handling mechanism through SCORES and linking the new platform with the Online Dispute Resolution (ODR) mechanism vide the SEBI (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 on June 03, 2023.
A copy of the SEBI (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 is attached below.
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