SEBI in its board meeting in March 2023 had approved amendments to various regulations to operationalize Online Dispute Resolution (ODR) Mechanism for investors and clients across all registered intermediaries / regulated entities. Thereafter, in its board meeting in June 2023, SEBI had approved the linking of its present SEBI Complaint Redress System (SCORES) with the new Online Dispute Resolution (ODR) Mechanism.
To operationalize it further, SEBI on July 31, 2023 by way of a circular issued detailed process and guidelines for Online Resolution of Disputes in the Indian Securities Market.
In this background, the views of Mr. Sumit Agrawal, Managing Partner Regstreet Law Advisors have been featured in an article by the LiveMint.
Mr. Sumit Agrawal who was formerly a SEBI officer has observed that currently, arbitration is mainly used in stock broker-client agreements at stock exchanges. It is a new development for other intermediaries like mutual fund distributors, investment advisers, portfolio managers, etc. and this will require huge capacity building. Also, the rules of what cannot be arbitrated will require more clarity.
The article is enclosed below
Readers are also welcome to send their views to Regstreet Law Advisors at info@regsteetlaw.com
