Exchanges, Depositories and Clearing Corporations will have to give details of complaints against them: SEBI

SEBI News: The Securities and Exchange Board of India (SEBI) has directed the stock exchanges, depository and clearing corporations (Clearing Corporations) to put on its website the details of complaints received against them and their redressal. This step has been taken by SEBI because for a long time there was an effort to bring transparency in the investor grievance redressal mechanism.

7th December 2021 is the date
SEBI said in a circular that they will have to disclose this details by the 7th of next month. Apart from this, the regulator has also prescribed a format for releasing the data on complaints on their websites. Under the disclosure, these entities will have to disclose the complaints received during that month, complaints escalated, complaints pending for more than three months and the average time taken for resolution of the complaint.

Provisions will be applicable from January 1, 2022
The provisions of this circular will be applicable from January 1, 2022. Significantly, on Tuesday, SEBI had asked merchant bankers to disclose the investor charter and details related to complaints received on its website.

SEBI has clarified by directing stock exchanges, depositories and clearing corporations to disclose data on complaints received against them and their redressal on a monthly basis, to bring in transparency in the investor grievance redressal system as a market regulator. Taking all possible decisions.

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