SEBI has recently launched a mobile app for investors who want to lodge grievances against mutual funds, listed companies or any other registered intermediaries.
If you have a complaint against your investment advisor or want to raise a grievance against your mutual fund house, here’s a helping hand from the Securities and Exchange Board of India (SEBI). Even while you have the smartphone in your hands, you can now file your grievances with the market regulator. SEBI has recently launched a mobile app for investors who want to lodge grievances against mutual funds, listed companies or any other registered intermediaries.
SCORES is the Mobile Application designed by SEBI to lodge grievances by investors against listed companies, registered intermediaries and other institutions.
In addition to accessing the SCORES platform on the Internet, investors can now download the SEBI SCORES app and use it to file their grievances. The App has all the features of SCORES which is presently available electronically where investors have to lodge their complaints by using the internet medium.
How to register complaint
Once downloaded, one needs to register for using the services of SEBI SCORES application. During the registration, one need to mandatorily give PAN, Mobile number.
The complaints can be lodged in several categories, some of which are – mutual funds, depository participants, listed companies etc. one may also file a grievance against an investment advisor or research analyst. The launch of this app makes it easier for one to file compliant against stock brokers also.
You can also check the status of any entity i.e. a company especially those operating collective investment schemes. This will help you know about the company credentials immediately. As an investor one should always deal with registered companies.
After mandatory registration on the App, for each grievance, lodged, investors will get an acknowledgment via SMS and e-mail on their registered mobile numbers and e-mail ID respectively. Investors can not only file their grievances but also track the status of their complaint redressal.
What is SEBI SCORES app
The Mobile App SEBI SCORES is available on both iOS and Android platforms. This app is a convenient way to lodge complaints by investors as the complaint lodged through this app is directly lodged on SCORES system. The grievances lodged by investors are taken up with the concerned entity and continuously monitored.
Using the SEBI SCORES app, lodging the grievances will become easier as the investors can now access the app from their smartphones. The move is expected to improve the ease of filing complaints any wrongdoings by the market participants.
Investors can also key in reminders for their pending grievances. One can also use the tools like FAQs on SCORES for better understanding of the complaint handling process. Also, the connectivity to the SEBI Toll Free Helpline number has been provided from the App for any clarifications or help that investors may require.