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

Ms. Kavita, an individual client, lodged a complaint on SCORES against her registered investment adviser. Which statement about how the complaint is processed is most accurate?

The complaint goes to the concerned adviser, who must upload an action taken report on the platform within the prescribed time, and the complainant and SEBI can review it. SEBI does not pay compensation automatically on registration.

  1. AThe complaint is forwarded to the entity concerned, which must file an action taken report on the platform, and SEBI reviews itCorrect
  2. BSEBI itself pays compensation automatically on registration of the complaint
  3. CThe complaint is closed immediately since advisers are outside SCORES
  4. DThe adviser can decide not to view the complaint until the client calls

Explanation

On SCORES, the complaint is sent to the concerned entity, which uploads an Action Taken Report within the prescribed time; the complainant can review and SEBI monitors. SEBI does not automatically pay compensation, and registered advisers are covered by SCORES.

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