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SEBI may outsource handling of complaints

business Updated: Mar 27, 2011 22:14 IST
Press Trust of India
Press Trust of India
Hindustan Times
Sebi plans

Faced with lakhs of investor complaints, market regulator Sebi plans to rope in third-party agencies to process and maintain grievances. This will help it resolve these complaints on a fast-track basis, a senior official said.

The regulator is said to be against outsourcing core and investor-sensitive acticities.

Incidentally, Sebi is in the process of finalising a set of regulations for outsourcing of work by various market intermediaries such as brokers, mutual funds and investment bankers.

Sebi will put in place stringent conditions for selection of the agency to handle complaints and investors’ interests would be safeguarded, the official said.

Activities to be outsourced include receiving complaints, forwarding them to the appropriate entity, tracking their status and conduct follow-ups.