Guidelines for online processing of investor service requests and complaints by RTAs
PUBLISHED ON: 14-06-2023
SEBI has issued a circular dated June 8, 2023, (available here) setting out guidelines for the online processing of various investor service requests and complaints to be implemented by the Registrars to an Issue & Share Transfer Agents (“RTAs”) servicing listed companies. The key aspects of the circular are as follows:
- Digitisation of raising of various investor requests and complaints by the investors to the RTA and creating a database for investor requests and complaints to allow tracking by the investors;
- RTAs to have functional websites displaying basic details, names and contact details of their key managerial personnel, FAQs, and a step-by-step procedure for filing and tracking complaints;
- Qualified RTAs and RTAs servicing listed companies to implement the online portal by January 1, 2024 and June 1, 2024, respectively and inform the investors about the portal electronically; within 30 days of such implementation, a certificate from a practicing Company Secretary is to be obtained certifying compliance with the circular;
- RTAs to ensure that the online portal complies with the existing SEBI guidelines for Business Continuity Plan and Disaster Recovery;
- A common website made by the Qualified RTAs from July 1,2024 with a list of RTAs and listed companies to redirect investors to the respective websites of the RTAs for further resolution with a feature to update the list.
