FE Today Logo
Search date: 09-10-2022 Return to current date: Click here

159 complaints of investors addressed through CCAM in nine months

October 09, 2022 00:00:00

FE Report

As many as 159 complaints submitted online by investors have been addressed in the last nine months, according to the Bangladesh Securities and Exchange Commission (BSEC) data.

The online Customer Complaints Address Module (CCAM) introduced by the securities regulator on September 30 in 2019 has brought much relief to the investors as they can easily submit their complaints using this CCAM.

The investors can submit all kinds of complaints such as non-payment of cash dividend, non-disbursement of stock dividends, non-payment of sale proceeds and unauthorised sales of shares.

They also can lodge complaints regarding delays in the settlement of share transactions, margin finance and interest, forced selling, and financial losses due to non-transfer of shares.

Of the 159 complaints, two complaints were addressed in September, 11 in August, four in July, nine in June, 28 in May, 14 in April, 38 in March, 24 in February, and 29 complaints in January.

The investors submitted a total of 1,244 complaints since the introduction of the CCAM and 1,133 complaints (91.2 per cent) have so far been disposed of while the remaining 111 are in the process of resolution.

The average time from filing to settlement for each complaint has stood at 24.3 days.

Using the automated system available on the BSEC website, investors, irrespective of their geographical locations, can submit their complaints and have them addressed.

The securities regulator has brought all possible stakeholders such as bourses, stockbrokers and merchant bankers under the network of the CCAM to facilitate the settlement of grievances of the investors.

After submission of the complaints, the authority concerned automatically receives them via the market intermediaries such as stock exchanges.

The BSEC receives an alert from the CCAM if a complaint remains unaddressed within the expected timeframe.

[email protected]

Share if you like