Sebi proposes major changes in investor grievance redressal mechanism

Along with making the process completely online, Sebi has suggested measures for reducing cost

The Securities and Exchange Board of India (Sebi) has proposed modifications in the investor grievance redressal mechanism, to facilitate dispute resolution and arbitration online on an end-to-end basis.

The proposed changes include doing away with the appellate arbitration system administered by market infrastructure institutions (MIIs), and reorganising the Investor Grievance Redressal Committee (IGRC) into a panel of mediators.

“To reduce costs for the parties, ease/eliminate the coordination issues in forming a panel and enable availability of a higher number of arbitrators for resolution of matters, it is proposed that all matters, irrespective of the amount of claim, be dealt with