SEBI issued circular No.CIR/OIAE/1/2013 dated April 17, 2013 for Redressal of investor grievance through SEBI Complaint Redress System (SCORES). Pursuant to the provisions of Section 15C of the SEBI Act, 1992 all listed companies are instructed to redress the grievances of the investors within 30 days of the reciept of complaints.
For redressing the grievances of the investors the company must first obtain SCORES user ID and Password. SEBI has directed that the failure to obtain SCORES user ID and Password with in thirty days of issue of this circular will be considered not only as a non redressal of investor grievance but also wilfull avoidance of the same.
After obtaining the SCORES User ID and Password, the company can look into its investors grievances by logging into http://scores.gov.in/admin, and have to clear the issues within thirty days of the reciept. The penalty for non compliance is One lakh rupees for every day or One crore rupees which ever is more.
SEBI has issued a report on 16th April, 2013 inviting suggestions and comments from public
on SEBI (Prohibition of Insider Trading Regulation). SEBI has constituted a High Level Committee to review these regulations as it has been two decades since the regulations have been notified. SEBI mentioned that there have been many amendments and there have been many prominent judgments in this regard by Honourable court’s. Thus a need to review and regularise these regulations was felt in accordance with these developments and to ensure that they reflect the best practices adopted globally.
The format for sending the inputs or suggestions to SEBI are:
|1||Table the issue here:
eg: Definition of Insider
|Place your suggestion
on proposed intervention on the
specific issue here
|Provide your reasons
as to why you propose
Suggestions and inputs may be sent in the aforesaid format as word attachments to firstname.lastname@example.org by May 16, 2013.