SEBI mandates exchanges to make monthly disclosure of complaints against them
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In order to bring about transparency in the Investor Grievance Redressal Mechanism, market regulator SEBI has decided that all the stock exchanges and clearing corporations will now disclose complete data on complaints received against them and the redressals thereof on their websites.
In a circular, the market regulator has said that such disclosures will have to be made by 7th of the succeeding month in proper format that has been circulated to the exchanges.
These disclosure requirements are in addition to those already mandated by SEBI.
The provisions of the current circular will come into effect from January 1, 2022, the circular said.
SEBI has advised the stock exchanges and clearing corporations to make necessary amendments to the relevant by-laws, rules and regulations to facilitate incorporation of the fresh changes.
To ensure that the new system is put in place at the earliest, SEBI has asked that it be communicated the status of the implementation of the provisions of this circular through the Monthly Development Report (MDR).
