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NISM Certifications · NISM-Series-VII: Securities Operations and Risk Management · Investor Grievances and Arbitration

A broker's client complains about an unauthorised trade. Under SEBI's investor grievance norms, within what general timeline should the exchange-routed complaint on SCORES be responded to by the broker once forwarded?

The broker should respond within 21 days of receiving the complaint forwarded through SCORES. SEBI requires intermediaries to upload an action taken report within this period, and if the matter is unresolved the reasons for pendency must be stated, rather than allowing months to elapse.

  1. AWithin 21 days of receiptCorrect
  2. BWithin 6 months
  3. CWithin 1 year
  4. DWithin 90 days

Explanation

SEBI requires entities to redress complaints received through SCORES within 21 calendar days of receipt, otherwise reasons for pendency must be given in an action taken report. The longer periods listed do not match this rule.

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