Also, Sebi asked stock exchanges, depositories and clearing corporations to disclose on their websites the data on complaints received against them and redressal thereof.
This came after the Securities and Exchange Board of India (Sebi) came out with investor charter last week.
This charter includes the rights and responsibilities of investors, and dos and don’ts of investing in the securities market. The charter is aimed at protecting the ”interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner”.
Mumbai:
Markets regulator Sebi on Friday directed registrar and share transfer agents (RTAs) to disclose investors charter as well as data pertaining to complaints received against them on their websites.
In order to facilitate investor awareness about various activities where an investor has to deal with RTAs for availing investor service requests, Sebi has developed an investor charter for RTAs.
In the investor charter, the capital markets regulator has given details about the services provided to investors, rights of investors, various activities of RTAs with timelines, dos and don’ts for investors and grievance redressal mechanism.
In this regard, Sebi has asked RTAs to take necessary steps to bring the investor charter to the notice of existing and new shareholders by way of disseminating the charter on their websites as well as displaying the charter at prominent places in offices, according to a circular.
The Registrar Association of India (RAIN) will also disseminate the investor charter on its website.
Also, Sebi has decided that RTAs will disclose on their respective websites, the data on complaints received against them or against issues dealt by them and redressal thereof in a move to bring transparency in the investor grievance redressal mechanism.
These need to be disclosed latest by 7th of succeeding month, Sebi said.
In addition, the regulator has also prescribed a format for disclosing data of complaints on their websites.
Under the disclosure, RTAs will have to disclose about complaints received during the month, those carried forward from previous month, complaints pending for more than three months, complaints resolved and average time taken in resolution of a complaint, among others. The provision of the circular will come into effect from January 1, 2022.
On Tuesday, the regulator asked merchant bankers to disclose investor charter and data pertaining to the complaints they receive on their websites.
Also, Sebi asked stock exchanges, depositories and clearing corporations to disclose on their websites the data on complaints received against them and redressal thereof.
This came after the Securities and Exchange Board of India (Sebi) came out with investor charter last week.
This charter includes the rights and responsibilities of investors, and dos and don’ts of investing in the securities market. The charter is aimed at protecting the ”interests of investors by enabling them to understand the risks involved and invest in a fair, transparent, secure market, and to get services in a timely and efficient manner”.
The rights include getting fair and equitable treatment, expecting redressal of investor grievances filed in SCORES in a time-bound manner.
Also, the market regulator has created a separate investor charter for market infrastructure institutions– stock exchanges, clearing corporations and depositories.