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NISM Certifications · NISM-Series-X-A: Investment Adviser (Level 1) · Grievance Redress Mechanism

An investor is unhappy with the resolution of a complaint by a stock broker and wants to use SEBI's Online Dispute Resolution (ODR) mechanism. Which sequence correctly reflects the order of steps under the ODR framework?

The investor first raises the complaint with the intermediary, then escalates to SCORES if unresolved, and finally can use the ODR portal for conciliation and arbitration. The other sequences reverse or skip the prescribed escalation path under SEBI's online dispute resolution framework.

  1. AApproach the intermediary first, then SCORES, then ODR portal for conciliation/arbitrationCorrect
  2. BApproach the ODR portal directly, then the intermediary, then SCORES
  3. CFile with SCORES first, then the intermediary, then court
  4. DFile in court first, then the ODR portal, then the intermediary

Explanation

The framework expects the investor to first raise the grievance with the intermediary. If unresolved, the investor can lodge it on SCORES, and thereafter, if still dissatisfied, initiate dispute resolution on the ODR portal through conciliation and, if needed, arbitration. The other orders skip or reverse these steps.

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