The Market Regulator, Securities and Exchange Board of India (SEBI) has mandated the Stock Exchanges and Clearing Corporation to make monthly disclosure of complaints against them on the website with effect from January 01, 2022.
The Board with the objective to bring about transparency in the Investor Grievance Redressal Mechanism, it has been decided that all the Stock Exchanges and the Clearing Corporations shall disclose on their websites, the data on complaints received against them and redressal thereof, latest by 7th of succeeding month.
These disclosure requirements are in addition to those already mandated by SEBI. The Stock Exchanges and Clearing Corporations are advised to Communicate to SEBI the status of the implementation of the provisions of this circular through the Monthly Development Report (MDR). This circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act 1992 read with Section 10 of the Securities Contracts (Regulation) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. This circular is available on SEBI website at sebi.gov.in under the category “Circulars” and “Info for Commodity Derivatives”.
As per the format for disclosing data of complaints by all the Recognized Stock Exchanges and Clearing Corporations on their website the Should include complaints of previous months resolved in the current month, if any, should include total complaints pending as on the last day of the month, if any and average resolution time is the sum total of time taken to resolve each complaint in the current month divided by total number of complaints resolved in the current month.Subscribe Taxscan AdFree to view the Judgment