SEBI directions to Investor Service Centres of Stock Exchanges

SEBI on June 26, 2023 has issued following directions to Investor Service Centres of Stock Exchanges. ISCs shall at least provide the following basic minimum facilities:

1. Four financial daily newspapers with atleast one in the regional language of the place where the ISC is situated .In case, the financial newspaper is not available in the regional language of the place, any leading newspaper in that regional language shall be provided.
2. A dedicated desktop or laptop with internet connectivity to enable the investors to access various relevant information available in public domain and also to access SEBI’s and stock exchange’s grievance redressal portals.
3. Facilities for receiving investor complaints in both physical and electronic form.
4. One dedicated staff shall be posted at the ISC to register investor complaints and also to guide & counsel the investors.
5. The updated status of all complaints shall be maintained in electronic form.
6. Facilitation desks at all ISCs to assist the investors in the dispute resolution process. These desks shall, inter alia, provide investors the required documents or details, if any, for making application to investor Grievance Redressal Panels and filing arbitration applications (including appellate arbitration).
7. Arbitration and appellate arbitration facility at all ISCs including video-calling facility to investors for attending their online arbitration (including appellate arbitration) or Grievance Redressal meetings, if any.
8. A meeting room for at least 5 to 6 persons and additional sitting space for at least 5 to 6 persons.
9. Other infrastructure facilities such as telephone, photocopier, printer, scanner, internet access, furniture, etc.
10. A library on relevant laws (including Acts, Rules, Regulations, Circulars or master circulars, Guidelines, etc. and bye-laws, rules, regulations and circulars or master circulars of stock exchanges, clearing corporations and depositories),common booklets on various areas of securities markets, educational materials, etc. for the investors. In case of receipt of request for physical copies of relevant laws, the same shall be provided at a minimal cost.
11. A register or database of visitors(including investors)for future correspondence, whenever required.

The provisions of this circular shall come into effect from the 90thday of issuance of this circular.