Aggrieved customers have been demanding their funds
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The Securities and Exchange Commission (SEC) says it is commencing sessions to hear complaints from aggrieved customers of investment companies that are managing funds.

The move follows increasing complaints of customers who are having challenges with retrieving their funds from the investment houses.

SEC believes the hearing sessions would create a platform to have the complaints of the customers effectively addressed by the affected firms.

The customers, who continue to besiege the offices of the SEC, are requesting the intervention of the Commission to retrieve their investments from the companies who continue to fail in honouring their payment obligations.

Rev Daniel Ogbamey Tetteh, Director-General, SEC
Rev Daniel Ogbamey Tetteh, Director-General, SEC

Reverend Daniel Ogbamey Tetteh, Director-General of SEC, who confirmed the introduction of the hearing sessions, in an interview with ADR Daily in Accra, recounted some of the complaints, describing the situation as challenging for the clients.

As part of its mandate, he said SEC has instituted the necessary measures to assist complainants to have their issues resolved amicably.

“SEC has been receiving complaints from clients and as part of the mandate of SEC is to assist these complaints to have their issues resolved,” he stressed.

According to Rev. Tetteh, his outfit is conducting investigations into all the complaints lodged with the Commission to enable it organize a hearing session with the parties involved.

“We usually investigate the complaints including organizing hearing sessions with the parties involved,” he added.

Meanwhile, SEC has asked all Fund Managers to stop offering guaranteed returns on investment to their clients to sanitize the industry and protect the integrity of the capital market.

Benjamin Nana Appiah/adrdaily.com