Sebi asks exchanges, depositories, clearing corps to disclose complaint data on websites

In order to bring transparency in the investor grievance redressal mechanism, Sebi has directed stock exchanges, depositories and clearing corporations to disclose on their websites the data on complaints received against them and redressal thereof. They will have to make the disclosure latest by 7th of the succeeding month, Sebi said in a circular.

In addition, the regulator has also prescribed a format for disclosing data of complaints on their websites. Under the disclosure, these entities will have to disclose complaints received during the month, those carried forward from the previous month, complaints pending for more than three months and the average time taken in the resolution of a complaint, among others.

The provision of the circular will come into effect from January 1, 2022. On Tuesday, Sebi asked merchant bankers to disclose investor charter and data pertaining to the complaints they receive on their websites.