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

Mr. Iyer is dissatisfied with the reply of his investment adviser to a written complaint. Which of the following is the most appropriate escalation sequence for him?

The appropriate path is to first complain to the adviser's own grievance or compliance officer, then escalate to SEBI through SCORES, and if still unresolved use online dispute resolution or arbitration. Going straight to court or waiting passively is not the standard redress sequence.

  1. AApproach the adviser's competitor, then the police only
  2. BApproach the adviser's compliance or grievance officer first, then lodge the complaint on SCORES, and then consider the Online Dispute Resolution mechanism or arbitrationCorrect
  3. CFile directly in the High Court without any prior step
  4. DWait for SEBI to detect the issue on its own

Explanation

The usual path is to first take the complaint to the intermediary's own grievance or compliance officer, then escalate to SEBI through SCORES, and later use the Online Dispute Resolution or arbitration route if unresolved. Skipping to court or waiting passively is not the standard sequence.

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