What complaints data must I publish every month?
In force
By the 7th of every month you must publish complaints data on your website, and in your mobile app if you have one.
The prescribed format is three tables, not one.
The month itself, split by where the complaint came from: directly from investors, from SEBI through SCORES, and other sources. Each row shows pending at the start, received, resolved, total pending, how many have been pending beyond three months, and the average resolution time in days.
A month-by-month trend for the financial year, April through March.
A year-by-year trend, running from 2021-22 onward.
You separately report the number of complaints that arose because someone impersonated you. Those may be adjusted out of your received and resolved totals.
This runs every month whether or not you received a complaint. A nil month still gets published.
What SEBI says, word for word
Master Circular, ¶7.3“all the Research Analysts shall continue to disclose on their respective websites and mobile applications (if any), the data on complaints received against them or against issues dealt by them and redressal thereof, latest by 7th of succeeding month, as per the format enclosed at Annexure E to this circular.”Source: SEBI Master Circular No. HO/38/12/11(1)2026-MIRSD-POD/I/4360/2026, dated February 6, 2026, originally SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/81 dated June 2, 2025 Open document ↗
Annexure E“In case of any complaints received against the RA due to impersonation of the RA by some other entity, the RA may adjust the number of such complaints from total number of received/resolved complaints while preparing the above table.”Source: Annexure E to SEBI Master Circular No. HO/38/12/11(1)2026-MIRSD-POD/I/4360/2026, dated February 6, 2026 Open document ↗