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

Mr. Raghav Iyer, a client, files a complaint on SCORES against his registered investment adviser. Which statement best describes the process that follows?

The complaint is forwarded electronically to the adviser, who must respond with an action taken report on the portal. The client can track the reply, and SEBI reviews the status and outcome. Advisers are not exempt, and no compensation is automatically paid without examination.

  1. AThe complaint is forwarded to the adviser, who must submit an action taken report, and the complaint is then reviewed by SEBICorrect
  2. BThe complaint is automatically closed as advisers are exempt from SCORES
  3. CSEBI directly pays compensation to the client without hearing the adviser
  4. DThe complaint is sent only to the client's bank for resolution

Explanation

On SCORES, the complaint is electronically routed to the concerned entity, which uploads an action taken report; the complainant can view it and SEBI reviews the outcome. Advisers are not exempt, and SEBI does not pay compensation before examining the matter.

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