Why is it in the news?
- Securities and Exchange Board of India (SEBI) has introduced an upgraded version called SCORES 2.0.
More about the news
- SCORES stands for SEBI Complaint Redressal System, an online platform for investors in the securities market to lodge complaints. The initial version, SCORES, was launched in June 2011.
- SCORES 2.0 enhances efficiency through features like auto-routing, auto-escalation, and monitoring by designated bodies, along with reducing complaint resolution timelines.
- It introduces two levels of review: the first review by the designated body and the second review by SEBI if the investor remains dissatisfied after the first review.
| About SEBI · SEBI, established on April 12, 1992, is a statutory body governed by the Securities and Exchange Board of India Act, 1992. · Before SEBI, the regulatory authority was the Controller of Capital Issues, operating under the Capital Issues (Control) Act, 1947. · SEBI functions as a quasi-legislative and quasi-judicial body with powers to draft regulations, conduct inquiries, issue rulings, and impose penalties. · SEBI’s primary objective is to safeguard the interests of Indian investors in the securities market. With the Securities Laws (Amendment) Act, 2014, SEBI gained authority to regulate money pooling schemes worth Rs. 100 crore or more and to attach assets in cases of non-compliance.
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