Sebi asks brokers to publicise redressal contact details

With an aim to strengthen grievance redressal mechanism for investors, regulator Sebi today asked stock brokers and other market intermediaries to prominently display in their offices contact details of their CEOs, compliance officers and of the regulatory authorities.
"It has now been decided that offices of all stock brokers (its registered sub-broker and uuthorised person) and depository participants shall prominently display basic information...About the grievance redressal mechanism available to investors," the Securities and Exchange Board of India (Sebi) said in a circular.
Sebi said that stock brokers and depository participants would have to provide contact details (email address and phone numbers) of their compliance officers, as also of CEO/ Partner/Proprietor, so that an investor can approcah the right authority for his or her grievance redressal.

They are also required to provide contact details of stock exchanges like BSE, NSE, MCX-SX as well that of despositories (NSDL and CDSL), who can be approached by the investors in case they are not satisfied with the response of the stock Broker or depository participant.
Also, they would have to give information about Sebi's toll free number.
The intermediaries would have to take necessary steps to implement the provisions of this circular and ensure its full compliance in respect of all its offices within 60 days from the date of this circular.
Sebi has been taking various measures to create awareness among investors about grievance mechanisms available to them through workshops as well as through print and electronic media.