Mutual funds are run by big financial corporations. A lot of these corporations are backed by major banks and financial institutions. Trying to get in touch with such asset management companies (AMC) can be overwhelming for regular mutual fund investors. This is where SEBI steps in to help.
If you have a complaint regarding your mutual fund investments, the first step to take is reaching out to the concerned fund company or your fund distributor. Every mutual fund company has an investor centre that allows investors to reach out to them. You can call or email them through their website. Alternatively, you can get in touch with your fund distributor or agent through whom you invested in the mutual fund. In most cases, either one of these methods would be enough to resolve your issue.
But if that doesn’t happen, you can lodge a complaint with the Securities and Exchange Board of India. SEBI is the market regulator in India and is the official government agency that all fund companies are held accountable by. To assist investors in getting their complaints addressed, SEBI has launched SCORES, which stands for Sebi Complaints Redress System.
SCORES (https://scores.gov.in/scores/Welcome.html) is an online portal where investors can log complaints, send reminders and check the status of their complaints.
To log a complaint on SCORES, you will need to register as a user and fill in the required details. The more details you provide at the time of registering the complaint, the easier it will be for SEBI to redress. You will be provided with a complaint registration number that you can use to check the status of your complaint. SEBI promises to respond to complaints within a few days and ensures that they are resolved in 30 days.
This is how mutual fund investors can get their complaints redressed. But remember to approach the fund company or distributor before you approach SEBI.