SCORES: SEBI Extends Deadline For Implementation Of New Norms Till April 2024

Markets regulator SEBI on Friday extended the deadline till April 1, 2024 for the implementation of the framework for handling complaints received through the SCORES platform for registered entities and for monitoring such grievances by designated bodies.

The guidelines were come into force from Dec. 4.

The designated bodies are required to apply for SCORES authentication and/or for Application Programming Interface (API) integration with SCORES within a specified time period.

"It has been decided to extend the effective date of implementation of the provisions to April 1, 2024," the Securities and Exchange Board of India said in a circular.

In September, SEBI came out with a circular with respect to handling complaints received through SCORES platform for registered entities and for monitoring such grievances by designated bodies.

Under the guidelines, all entities, including companies, that received complaints of investors through SCORES, will have to resolve them within 21 calendar days of receipt of such grievances.

SCORES is a grievance redressal system that was launched in June 2011. Investors can lodge their complaints online with SEBI, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.