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

Ms. Anita Menon, a client, files a complaint on SCORES against a registered intermediary. Which statement best describes how the complaint is processed?

The complaint is forwarded to the concerned intermediary, which must file an action taken report on the platform, and SEBI reviews that response and monitors the matter. SEBI does not award compensation without hearing the entity, and complaints are not automatically closed or sent to the client's bank.

  1. AIt is forwarded to the intermediary, which must submit an action taken report, and SEBI reviews the responseCorrect
  2. BSEBI immediately awards compensation without hearing the intermediary
  3. CThe complaint is sent to the client's bank for decision
  4. DIt is closed automatically after 7 days irrespective of the outcome

Explanation

On SCORES, the complaint is routed to the concerned entity, which must respond with an Action Taken Report, and SEBI monitors and reviews it. SEBI does not award compensation without hearing the entity, and complaints are not auto-closed or passed to banks.

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