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<h1>Transparency in grievance redressal requires exchanges to publish investor complaints, arbitration disposals and penal actions online.</h1> SEBI directs all Stock Exchanges to disclose on their websites details of investor/client complaints, arbitration proceedings involving clients, and penal actions against trading members using prescribed templates (Reports 1A-4B). Reports 1A and 2A must be updated weekly; other reports quarterly. Exchanges must notify market participants, publish the reports within one month, amend bye-laws if necessary, and report implementation status monthly to SEBI. The disclosure regime standardises fields, status categories and ordering of entries and is issued under Section 11(1) of the SEBI Act for investor protection and market regulation.