SEBI issues guidelines to further strengthen investor grievance redressal mechanism, reiterates that stock exchanges shall ensure that investor grievances are resolved within 15 days from receiving complaints, and shall maintain a record of all complaints addressed/redressed within 15 working days; Requires stock exchanges to resolve service related complaints at their end, however, in case the complainant is not satisfied with the resolution, the same may be referred to the Investor Grievance Redressal Committee (‘IRGC’) after reasons being recorded in writing; Further states that for complaints related to trade, settlement and ‘deficiency in services’, resulting into any financial loss, the stock exchange shall resolve the complaint on its own as per the timelines prescribed; As to handling of complaints by IGRC, states that the Committee shall have 15 days to amicably resolve the investor complaint through conciliation process; Lastly, specifies that if a complainant is not satisfied with the IGRC’s recommendations, he shall avail the arbitration mechanism of the stock exchange for settlement of complaints within 6 months from the date of IGRC recommendation: SEBI
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