Regulator tweaks investor grievance redressal method

NEW DELHI: Capital markets regulator Sebi on Friday tweaked the framework on investor grievance redressal mechanism after receiving representation from stock exchanges.

The regulator has modified framework pertaining to speeding up grievance redressal mechanism and threshold limit for interim relief paid out of investor protection fund (IPF) of the stock exchange among others.

With regard to place of arbitration or appellate arbitration in case award amount is more than ₹50 lakh, Sebi said the next level of proceedings may take place at the nearest metro city, if desired by any of the parties .